Adams PLC Results of EGM (4452J)
June 28 2017 - 7:18AM
UK Regulatory
TIDMADA
RNS Number : 4452J
Adams PLC
28 June 2017
THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION,
RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA,
AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, NEW ZEALAND OR ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT
SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION
TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF
ADAMS PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU 596/2014).
All of the defined terms in this announcement have the same
meaning as in the circular published by the Company and sent to
Shareholders on 2 June 2017.
28 June 2017
Adams plc
("Adams" or the "Company")
Result of Extraordinary General Meeting and Open Offer
The Company is pleased to announce that, at the Extraordinary
General Meeting of the Company held earlier today, all resolutions
were duly passed. Accordingly the Rule 9 waiver under the Code has
been approved and the Underwritten Open Offer will now proceed to
completion.
Placing and Open Offer
Adams is pleased to confirm that it has received valid
applications in respect of 3,624,144 Open Offer Shares raising
GBP90,603 for the Company. Qualifying Shareholders who validly
applied for Open Offer Shares pursuant to their Open Offer
Entitlement will receive the full amount of Open Offer Shares
applied for. The applications included an application by Richard
Griffiths for 2,697,202 Open Offer Shares.
The remaining 37,652,472 Open Offer shares have all been taken
up by Richard Griffiths pursuant to the Underwriting Agreement,
raising a further GBP941,312 for the Company. Consequently, the
total gross proceeds of the Open Offer are GBP1,031,915 (before
expenses).
Application has been made for the admission of the 41,276,616
Open Offer Shares to trading on AIM, with Admission expected to
become effective at 8.00 a.m. on 29 June 2017. The Open Offer
Shares will, when issued and fully paid, rank pari passu in all
respects with the Existing Ordinary Shares, including the right to
receive all dividends and other distributions declared, made or
paid after the date of Admission.
Substantial Shareholder
Following Admission, Richard Griffiths will have the following
interest in the Ordinary Shares in the Company:
Name Number Percentage
of Ordinary of Issued
Shares Share Capital
------------------- ------------- ---------------
ORA Limited* 9,645,531 11.7%
Richard Griffiths 43,046,876 52.1%
------------------- ------------- ---------------
Total 52,692,407 63.8%
*Richard Griffiths is a controlling shareholder of ORA Limited
and has a beneficial interest of 80.36 per cent. of the issued
share capital of ORA Limited.
Total voting rights
Following Admission, the number of Ordinary Shares in issue will
be 82,553,232. For the purposes of the Disclosure Guidance and
Transparency Rules, the total number of voting rights in the
Company with effect from 29 June 2017 will be 82,553,232. This
figure may 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
share capital of the Company, under the FCA's Disclosure Guidance
and Transparency Rules.
Enquiries:
Adams plc
Mike Bretherton Tel: +44 1534 719761
Nomad - Cairn Financial Advisers
LLP
Sandy Jamieson, James Caithie Tel: +44 207 213
0880
Broker - Peterhouse Corporate
Finance Limited
Heena Karani Tel: +44 207 469
3393
This information is provided by RNS
The company news service from the London Stock Exchange
END
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