Touchstone Innovations PLC Notice of cancellation of admission to AIM (2415W)
November 13 2017 - 2:00AM
UK Regulatory
TIDMIVO TIDMIPO
RNS Number : 2415W
Touchstone Innovations PLC
13 November 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, INTO OR FROM ANY JURISDICTION WHERE
TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF THAT JURISDICTION
13 November 2017
Touchstone Innovations plc
Notice of cancellation of admission to trading on AIM
Further to the announcement released on 18 October 2017 by IP
Group plc ("IP Group") declaring the IP Group offer (the "Offer")
wholly unconditional in all respects, Touchstone Innovations plc
("Touchstone" or the "Company") notifies its shareholders that, at
the request of IP Group, an application has been made to London
Stock Exchange plc to cancel the trading facility in the ordinary
shares in the capital of the Company ("Ordinary Shares") on AIM
with effect from 7:00am on 11 December 2017.
The cancellation of trading in the Ordinary Shares will
significantly reduce the liquidity and marketability of any
Ordinary Shares and, as previously stated, the Board of Touchstone
recommends that Touchstone shareholders who have not yet accepted
the Offer now do so promptly.
Those Touchstone shareholders who accept the Offer will receive
their new shares in IP Group as consideration for their Touchstone
shares at an earlier date than they would as part of the compulsory
acquisition procedure.
IP Group has announced that the Offer will remain open until
further notice and that not less than 14 calendar days' notice will
be given in respect of the closure of the Offer.
If you are a Touchstone shareholder and in any doubt as to the
action you should take, you are recommended to seek your own
financial advice immediately from your stockbroker, bank manager,
solicitor, accountant, fund manager or other appropriate
independent financial adviser authorised under the Financial
Services and Markets Act 2000, as amended if you are resident in
the United Kingdom or, if not, from another appropriately
authorised independent financial adviser.
For further information contact:
020 3053
Touchstone Innovations plc 8834
Russ Cummings, Chief Executive Officer
William Rayner, General Counsel
and Company Secretary
Jon Davies, Director of Communications
020 7457
Instinctif Partners 2020
Adrian Duffield/Mel Toyne-Sewell/Chantal
Woolcock
J.P. Morgan Cazenove (Nominated 020 7742
adviser) 4000
Michael Wentworth-Stanley/Alec Pratt
RBC Capital Markets (Joint Corporate 020 7653
Broker) 4000
Marcus Jackson
Further Information
J.P. Morgan Limited, which conducts its UK investment banking
business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority. J.P. Morgan Cazenove is acting as financial
adviser exclusively for Touchstone Innovations plc and no one else
in connection with the matters set out in this announcement and
will not regard any other person as its client in relation to the
matters in this announcement and will not be responsible to anyone
other than Touchstone Innovations plc for providing the protections
afforded to clients of J.P. Morgan Cazenove or its affiliates, or
for providing advice in relation to any matter referred to
herein.
RBC Capital Markets is the business name used by RBC Europe
Limited, which is authorised in the United Kingdom by the
Prudential Regulation Authority ("PRA") and regulated by the
Financial Conduct Authority and the PRA and is a subsidiary of the
Royal Bank of Canada. RBC is acting as Corporate Broker to the
Company.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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