Airea PLC Correction - Results of Tender Offer (7174B)
January 08 2015 - 1:22PM
UK Regulatory
TIDMAIEA
RNS Number : 7174B
Airea PLC
08 January 2015
The following replaces the AIREA plc announcement released on 8
January 2015 at 13.20 with RNS Number 6781B. The previous
announcement indicated that a total of 3,291,779 Ordinary Shares
were validly tendered under the Tender Offer, instead of the
correct number of 2,838,102. Additionally, the previous
announcement indicated that the value of Tendered Shares was
approximately GBP403,000, instead of the correct value of
approximately GBP348,000. All other information remains
unchanged.
AIREA plc ('the Company')
Result of Tender Offer
The Company announces the result of the Tender Offer set out in
the circular to shareholders dated 3 December 2014 (the
"Circular"), which closed on 7 January 2015. A total of 2,838,102
Ordinary Shares were validly tendered under the Tender Offer.
As set out in the Circular, the Ordinary Shares in respect of
which tenders have been accepted will be purchased by N+1 Singer
pursuant to the Tender Offer and the Company will repurchase such
tendered Ordinary Shares from N+1 Singer in accordance with the
terms of the Repurchase Agreement entered into between the Company
and N+1 Singer on 2 December 2014. 2,838,102 Ordinary Shares will
be purchased at a price per Ordinary Share of 12.25 pence, for a
total of approximately GBP348,000.
Payment of the consideration due to Shareholders whose tender
was accepted by N+1 Singer is expected to be despatched (by cheque
or by a CREST payment, as appropriate) by no later than 20 January
2015. Balance certificates will be despatched in respect of
non-tendered Ordinary Shares by no later than 20 January 2015.
The repurchase of Ordinary Shares by the Company from N+1 Singer
for cancellation is expected to occur on 9 January 2015 and the
Company will make a further announcement upon the completion of
such purchase to notify Shareholders of the Company's total voting
rights for the purpose of determining whether they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure and Transparency Rules.
The timetable for the settlement of the Tender Offer
consideration is expected to be as follows:
CREST accounts credited with proceeds due under the Tender Offer
20 January 2015
Latest date for despatch of cheques for certificated Ordinary
Shares 20 January 2015
pursuant to the Tender Offer
Balance of Certificates despatched in respect of Ordinary Shares
20 January 2015
Capitalised terms in this announcement have the same meaning as
in the Circular except where otherwise indicated.
For further information please contact:
AIREA plc
Neil Rylance Chief, Executive Officer 01924 266561
Roger Salt, Finance Director
N+1 Singer
Richard Lindley 020 7496 3000
James White
This information is provided by RNS
The company news service from the London Stock Exchange
END
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