Aggreko PLC Conversion of B Shares (1996N)
May 15 2015 - 4:00AM
UK Regulatory
TIDMAGK
RNS Number : 1996N
Aggreko PLC
15 May 2015
Aggreko PLC
15 May 2015
Conversion of B Shares into Ordinary Shares and Deferred
Shares
Aggreko PLC (the "Company") announces that it has today sent a
letter to the holders of its B Shares giving notice that the
Company intends to exercise its power set out in article 6A(G)(i)
of the Company's articles of association (the "Articles of
Association") to convert all outstanding B Shares into ordinary
shares in the Company (the "Conversion"). The Conversion will take
place on 28 May 2015 (the "Conversion Date").
The B Shares were created pursuant to the return of
approximately GBP200 million of cash approved by Shareholders on 24
April 2014, details of which were contained in the Circular to
Shareholders dated 14 March 2014 (the "Circular"). The Company
purchased 1,778,422 B Shares on 8 May 2015 pursuant to the terms of
a second purchase offer made by the Company in relation to the B
Shares, details of which were contained in a letter dated 18 March
2015 sent by the Company to holders of B Shares. There are
currently 210,935 B Shares outstanding.
Details of the Conversion
The Conversion shall be on the basis of one ordinary share for
every (M/75) B Shares (where M represents the average of the
closing mid-market quotations in pence of the ordinary shares on
the London Stock Exchange, as derived from the Official List for
the five business days immediately preceding the Conversion Date),
fractional entitlements being disregarded and the balance of the
aggregate nominal value of such shares (including any fractions)
shall be constituted by reclassifying B Shares as deferred shares
of 1/306125 pence each, which shall have the same rights and be
subject to the same restrictions as the deferred shares of 9 84/775
pence set out in article 6A(I) of the Articles of Association. The
B Share Continuing Dividend accrued in respect of the period
between 28 May 2014 and 27 May 2015 of 0.52812 pence per B Share
will be paid to holders of B Shares on 28 May 2015.
Terms defined in the Circular have the same meaning when used in
this announcement.
For further information, please contact:
Helen Middlemist - Deputy Company Secretary - Tel: 0141 225
5900
Neither the ordinary shares nor the B Shares have been or will
be registered under U.S. Securities Act of 1933 as amended (the
"Securities Act") or the securities laws of any other U.S.
jurisdiction, and none of them may be offered or sold in the United
States unless pursuant to an exemption from, or in a transaction
not subject to the registration requirements of, the Securities
Act.
The release, publication or distribution of this announcement in
certain jurisdictions may be restricted by law and therefore
persons in such jurisdictions into which this announcement is
released, published or distributed should inform themselves about
and observe such restrictions.
This announcement does not constitute, or form part of, an offer
to sell or the solicitation of an offer to subscribe for any
securities, nor the solicitation of any vote or approval in any
jurisdiction, nor shall there be any sale, issue or transfer of the
securities referred to in this announcement in any jurisdiction in
contravention of applicable law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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