Hasgrove PLC Result of Tender Offer (5436H)
2013年6月21日 - 3:00PM
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TIDMHGV
RNS Number : 5436H
Hasgrove PLC
21 June 2013
21 June 2013
Hasgrove plc
('Hasgrove' or the 'Company')
Result of Tender Offer
Further to the announcement made by the Company on 10 May 2013
of the proposed return of cash to Shareholders by Tender Offer, the
Board of the Company is pleased to announce the result of the
Tender Offer. The Tender Offer closed in accordance with its
published timetable at 5.00 p.m. on Wednesday 19 June 2013.
A total of 17,965,615 Ordinary Shares were validly tendered
pursuant to the Tender Offer which equates to 143.72 per cent. of
the 12,500,000 Ordinary Shares available to Tender. Shareholders
should note that the figure for tendered shares includes an
additional 135,000 Ordinary Shares that the Company has been
required to issue to satisfy the exercise of Options as set out in
the section entitled 'Option Exercise' in Part 1 of the circular to
Shareholders dated 10 May 2013 ("Circular").
Since the aggregate number of Ordinary Shares tendered by
Shareholders exceeded 12,500,000, all tenders made by Shareholders
will be scaled back pro rata to the number of Ordinary Shares they
chose to tender save for Small Shareholders who hold 50,000
Ordinary Shares or fewer who will receive their full entitlement
under the Tender Offer. In aggregate, a total of 2,406,244 Ordinary
Shares tendered have been accepted in full on the basis that they
are held by Small Shareholders. The remaining 15,559,371 Ordinary
Shares have been scaled back and will receive 64.87252196% of the
number of Ordinary Shares submitted for Tender.
Based on the Tender Offer price of 82 pence per Ordinary Share,
the total number of the Ordinary Shares to be purchased pursuant to
the Tender Offer is 12,499,968 Ordinary Shares at a total cost
payable by the Company, before expenses, of GBP10.25 million.
All Ordinary Shares repurchased pursuant to the Tender Offer
will be cancelled. Following such cancellation, the number of
Hasgrove shares in issue is expected to be 11,354,173 Ordinary
Shares. Following the cancellation of an additional 1,163,149
Ordinary Shares on or after 14 July 2013 in relation to the sale of
Interel (details of which are set out in Part 1 of the Circular)
there will be 10,191,024 Ordinary Shares in issue.
The timetable for completion of the Tender Offer, Cancellation
of Reserves, Cancellation of Admission of its Ordinary Shares to
Trading on AIM and Re-registration as a Private Limited Company are
set out below:
Court hearing to confirm the Cancellation of Reserves 3 July
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Effective Date for the Cancellation of Reserves 4 July
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Completion of the purchase of the Ordinary Shares 5 July
pursuant to the Tender Offer
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Last day of dealings in the Ordinary Shares on AIM Close of
business
on 11 July
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Cancellation of Admission to AIM 7:00am on
12 July
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Cheques issued/CREST accounts credited for Tender 12 July
Offer proceeds in respect of Ordinary Shares sold
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CREST accounts credited/share certificates issued 12 July
for revised holdings of Ordinary Shares following
the sale of Ordinary Shares under the Tender Offer
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Despatch of certificates in respect of Ordinary Shares 12 July
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Re-registration of Hasgrove as a private limited 12 July
company
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All references to time in this document are to London time and
the dates and times given are based on the Company's current
expectations and may be subject to change. Any changes to the
expected timetable will be announced via a Regulatory Information
Service. All dates are in 2013.
Words and expressions used in the announcement have the same
meaning as the announcement by the Company on 10 May 2013.
For further information please contact:
Hasgrove plc
Paul Sanders, Group Chief Executive 0161 927 3222
Peel Hunt LLP (Nominated adviser and
broker)
Richard Kauffer/Daniel Harris 020 7418 8900
College Hill
Adrian Duffield/Rozi Morris 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
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