RNS Number:5398B
C.I. Traders Limited
03 August 2007
3 August 2007
Recommended proposal for the acquisition of C.I. Traders Limited by Sandpiper
Bidco Limited
Sanction of the Scheme of Arrangement
The Board of C.I. Traders Limited ("CIT" or the "Company") announces that the
Royal Court of Jersey (the "Court") today made an order sanctioning the scheme
of arrangement (the "Scheme") between the Company and the holders of Scheme
Shares to effect the acquisition of the Company by Sandpiper Bidco Limited
("Sandpiper") and all conditions relating to the Scheme, including, among other
things, the completion of the Reorganisation, the Property Transaction and the
Leaseback Arrangements have now been satisfied. The Scheme and its
implementation were approved by the Company's shareholders on 30 July 2007 at
the Court Meeting and the EGM of Shareholders of CIT.
An office copy of the Court order sanctioning the Scheme was delivered to the
Registrar of Companies this evening.
The expected timetable for the implementation of the Scheme is as follows:
Suspension of trading on AIM 7.00 a.m. on 6 August 2007
Cancellation of trading on AIM and of CIT Shares 7.00a.m. on 7 August 2007
Latest date for despatch of cheques in respect of cash 17 August 2007
consideration (and for settlement of cash
consideration through CREST)
Unless stated otherwise, terms defined in the Scheme Document dated 5 July 2007
shall have the same meaning in this announcement.
Enquiries:
C.I. Traders Limited
Donal Duff Tel: +44 1534 508 416
Collins Stewart Europe Limited
Seema Paterson / Kripa Radhakrishnan Tel: +44 20 7523 8350
Collins Stewart Europe Ltd which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for CIT and
for no-one else in connection with the Proposal and will not be responsible to
anyone other than CIT for providing the protections afforded to clients of
Collins Stewart Europe Ltd, nor for providing advice in connection with the
contents of the Proposal or any matter referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange
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