TyraTech, Inc. Result of Tender Offer (0361B)
January 05 2018 - 2:00AM
UK Regulatory
TIDMTYR TIDMTYRU
RNS Number : 0361B
TyraTech, Inc.
05 January 2018
For immediate release: 5(th) January 2018
TYRATECH, INC.
("TyraTech" or the "Company")
Result of Tender Offer
TyraTech Inc. (AIM: TYR, and TYRU), the life sciences company
focused on nature-derived insect and parasite control products, is
pleased to announce the results of the Tender Offer, details of
which were set out in the shareholder circular published by the
Company on 4 December 2017.
Result of Tender Offer
Under the Tender Offer 204,994,390 Common Shares were validly
tendered and will be purchased at a price per Common Share of 3
pence, for an aggregate purchase price of $8.4 million. The Common
Shares purchased under the Tender Offer represent approximately
55.8 per cent. of the Company's Issued Capital.
It is anticipated that the proceeds payable under the Tender
Offer to the Company's Shareholders who hold their Shares in
certificated form will be despatched on 15 January 2018 in the form
of a cheque. Those Shareholders who hold their Shares in
uncertificated form will have their CREST accounts credited on 8
January 2018.
The Company intends to retire the Common Shares purchased by it
under the Tender Offer, reducing the number of issued and
outstanding Shares from 367,666,444 Shares to 162,672,054 Common
Shares. It is anticipated that retirement of the shares will occur
at on 8 January 2018 and after this time Shareholders may use
162,672,054 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.
Directors' Interests
Number Percentage Number Number Percentage
of Shares of issued of Shares of Shares of issued
prior capital sold following capital
to the prior under the Tender following
Tender to the the Tender Offer retirement
Offer Tender Offer of the
Offer Tender
Offer shares
-------------- ----------- ----------- ------------ ------------ -------------
James Hills 3,029,957 0.83% nil 3,029,957 1.86%
-------------- ----------- ----------- ------------ ------------ -------------
Bruno Jactel 2,438,157 0.67% nil 2,438,157 1.50%
-------------- ----------- ----------- ------------ ------------ -------------
Barrington
Marshall
Riley 3,723,413 1.02% nil 3,723,413 2.29%
-------------- ----------- ----------- ------------ ------------ -------------
-ends-
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meaning as defined in the
Circular.
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information:
TyraTech Inc. Tel: +1 919 415
Bruno Jactel, Chief Executive 4340
Officer Tel: +1 919 415
Erica H. Boisvert, Chief Financial 4287
Officer
www.tyratech.com
SPARK Advisory Partners Limited Tel: +44 20 3368
(Nominated Adviser) 3552
Matt Davis / Mark Brady
Allenby Capital Limited (Broker) Tel: +44 20 3328
Chris Crawford 5656
Belvedere Communications (PR) Tel: +44 20 3567
John West / Kim van Beeck 0510
This information is provided by RNS
The company news service from the London Stock Exchange
END
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