Braemar Shipping Services PLC SCHEME EFFECTIVE, ADMISSION, TVR AND BOARD CHANGES (3955N)
July 25 2014 - 10:19AM
UK Regulatory
TIDMBMS TIDMACMG
RNS Number : 3955N
Braemar Shipping Services PLC
25 July 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
25 July 2014
FOR IMMEDIATE RELEASE
RECOMMENDED MERGER OF
BRAEMAR SHIPPING SERVICES PLC ("BRAEMAR")
and
ACM SHIPPING GROUP PLC ("ACM")
effected by means of a Scheme of Arrangement
under Part 26 of the Companies Act 2006
SCHEME EFFECTIVE, ADMISSION, TOTAL VOTING RIGHTS AND BOARD
CHANGES
Scheme Effective and Admission
Braemar is pleased to note the announcement issued by ACM
earlier today that the Scheme has become Effective and the Merger
has therefore completed.
Braemar confirms that admission of 8,093,610 New Ordinary Shares
to listing on the premium segment of the Official List and
commencement of dealings in the New Ordinary Shares on the London
Stock Exchange's main market for listed securities is expected to
take place at 8.00 a.m. (London time) on 28 July 2014.
Total voting rights
Following Admission, the existing share capital and total voting
rights of the Company will be 29,775,003 Ordinary Shares and this
figure should be used by shareholders as the denominator for the
calculations by which they will determine if 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.
Board changes
Now that the Merger has completed, Johnny Plumbe, Tim Jaques,
Jürgen Breuer and Mark Tracey have been appointed as directors of
Braemar. In addition, as set out in the combined circular and
prospectus published on 12 June 2014, the Board Committees have
been reconstituted as follows:
- Audit committee: Alastair Farley (Chairman), David Moorhouse CBE and Mark Tracey.
- Remuneration committee: David Moorhouse CBE (Chairman),
Alastair Farley and Jürgen Breuer.
- Nominations committee: Sir Graham Hearne CBE (Chair), David
Moorhouse CBE, Alastair Farley and Tim Jaques.
Capitalised terms in this announcement are, unless otherwise
defined, as set out in the combined circular and prospectus
published on 12 June 2014.
A copy of this announcement will be available on Braemar's
website at www.braemarplc.com.
Enquiries:
Braemar Shipping +44 (0) 20 7535
Services Plc 2650
James Kidwell
- Chief Executive
Martin Beer
- Group Finance
Director
Westhouse
(financial adviser
and corporate +44 (0)20 7601
broker to Braemar) 6100
Robert Finlay
Antonio Bossi
Buchanan Communications
(PR adviser +44 (0)20 7466
to Braemar) 5000
Charles Ryland
Fiona Henson
Disclaimer
This document includes statements that are forward-looking in
nature. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results
to be materially different from future results expressed or implied
by such forward-looking statements. Any such forward-looking
statements speak only as of the date of this announcement and the
Company does not undertake to update forward-looking statements to
reflect events or circumstances after that date.
Neither the website of Braemar nor the content of any website
accessible from hyperlinks on that website (or any other website)
is (or is deemed to be) incorporated into, or forms (or is deemed
to form) part of, this announcement.
Overseas shareholders
The release, publication or distribution of this announcement in
certain jurisdictions may be restricted by law. Persons who are not
resident in the United Kingdom or who are subject to the laws of
any jurisdiction other than the United Kingdom should inform
themselves of, and observe, any applicable requirements. Any
failure to comply with the restrictions may constitute a violation
of the securities laws of any such jurisdiction. This announcement
does not constitute an offer or an invitation to purchase or
subscribe for any securities or a solicitation of an offer to buy
any securities pursuant to this announcement or otherwise in any
jurisdiction in which such offer or solicitation is unlawful. This
announcement has been prepared for the purposes of complying with
the laws of England and Wales and the City Code and the information
disclosed may not be the same as that which would have been
disclosed if this announcement had been prepared in accordance with
the laws of any jurisdiction outside England and Wales.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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