ReThink Group (The) PLC Result of Tender Offer (8990Y)
2014年12月5日 - 4:00PM
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RNS Number : 8990Y
ReThink Group (The) PLC
05 December 2014
The ReThink Group plc
("ReThink" or the "Company")
Result of Tender Offer
Further to the Tender Offer announced on 10 November 2014, the
directors of the Company are pleased to announce that a total of
31,353,038 Ordinary Shares were tendered under the Tender Offer. As
a result, all Qualifying Shareholders who have validly tendered
their Ordinary Shares will be accepted in full. Therefore
31,353,038 Ordinary Shares will be purchased by Shore Capital at 5
pence per Ordinary Share under the Tender Offer and subsequently
repurchased by the Company and cancelled.
Payment of the consideration due to Qualifying Shareholders
whose tender was accepted by Shore Capital is expected to be
despatched (by cheque or by a CREST payment, as appropriate) by no
later than 16 December 2014. Balance certificates will be
despatched in respect of non-tendered Ordinary Shares by no later
than 16 December 2014.
Following the implementation of the Tender Offer and the
cancellation, the Company will have 85,164,743 Ordinary Shares in
issue.
De-Listing
Following the approval of the proposed De-Listing by
Shareholders at the General Meeting, application has been made to
the London Stock Exchange for the admission to trading on AIM of
the Ordinary Shares to be cancelled, and Cancellation is expected
to take effect at 7.00 a.m. on 9 December 2014.
Trading of the Ordinary Shares after Cancellation
The Company intends to put in place an electronic off-market
dealing facility for the Ordinary Shares which will be administered
by Asset Match, a firm authorised and regulated by the Financial
Conduct Authority. The facility will allow Shareholders to trade
their Ordinary Shares on a matched bargain and arm's length basis
via periodic auctions to be held every three months.
The facility operates under its own code of practice which
governs the behaviour of participants and the running of the
auctions. This code of practice is available to view at
www.assetmatch.comand requires that, among other things, the
Company:
-- has management information systems and a sound system of
internal controls appropriate to its size, so as to provide a
reasonable basis for it to make informed decisions about its
financial position and prospects;
-- has adopted a code of dealings in relation to the Shares for
directors and their connected persons and relevant staff, based on
the UK Listing Authority's Model Code on directors' dealings;
and
-- provides all shareholder communications and submissions made
to Companies House to be made available on the Company's page on
the Asset Match website.
It is intended that this facility will be put in place shortly
after the date of De-Listing, and will be available for at least
one year from the date of Cancellation and reviewed thereafter.
Further details will be made available after De-Listing on the
Company's website at www.rethinkgroupplc.com and at
www.assetmatch.com.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meaning given to them in the
Circular.
All references to time in this announcement are to UK time.
Capitalised terms in this announcement (unless otherwise defined)
have the same meanings as set out in the Circular.
Enquiries:
For further information please contact:
The Rethink Group plc
Steve Wright, CEO
Ben Felton, CFO 07836 226902
Shore Capital (Nomad & Broker)
Bidhi Bhoma/Edward Mansfield 0207 408 4090
Newgate Threadneedle (PR)
John Coles 020 7653 9850
This information is provided by RNS
The company news service from the London Stock Exchange
END
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