Billing Services Group Limited Result of Tender Offer (4383Z)
15 December 2017 - 6:00PM
UK Regulatory
TIDMBILL
RNS Number : 4383Z
Billing Services Group Limited
15 December 2017
NEWS RELEASE
15 December 2017
Billing Services Group Limited
('BSG' or the 'Company')
Result of Tender Offer
BSG is pleased to announce the results of the Tender Offer set
out in the shareholder circular published by the Company on 6
December 2017. The Tender Offer closed at 1.00 p.m. on 14 December
2017.
Result of Tender Offer
Under the Tender Offer 250,145,408 Shares were validly tendered
and 117,647,059 Shares will be purchased at a price per Share of
US$0.0425, for an aggregate purchase price of US$5.0 million. The
Shares purchased under the Tender Offer represent approximately
41.7 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 no later than 21 December 2017
in the form of a cheque. Those Shareholders who hold their Shares
in uncertificated form will have their CREST accounts credited no
later than 21 December 2017.
The Company intends to cancel the Shares purchased by it under
the Tender Offer, reducing the number of Shares in issue from
282,415,748 Shares to 164,768,689 Shares. It is anticipated that
cancellation will occur at 5.00 p.m. on 21 December 2017 and after
this time Shareholders may use 164,768,689 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
The Directors' participation in the Tender Offer is set out
below:
Number Percentage Number Number Percentage
of Shares of issued of Shares of Shares of issued
prior capital sold under following capital
to the prior the Tender the Tender following
Tender to the Offer Offer cancellation
Offer Tender of the
Offer Tender
Offer
shares
------------------ ----------- ----------- ------------ ------------ --------------
Norman M.
Phipps 19,703,860 6.98 9,064,916 10,638,944 6.46
------------------ ----------- ----------- ------------ ------------ --------------
Patrick D. - - - - -
Heneghan
------------------ ----------- ----------- ------------ ------------ --------------
Admiral Leighton
W. Smith 150,000 0.05 69,009 80,991 0.05
------------------ ----------- ----------- ------------ ------------ --------------
Gregory Carter 151,250 0.05 69,583 81,667 0.05
------------------ ----------- ----------- ------------ ------------ --------------
Denham Eke - - - - -
------------------ ----------- ----------- ------------ ------------ --------------
Jason Wolff - - - - -
------------------ ----------- ----------- ------------ ------------ --------------
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meaning as defined in the
Circular.
Further information:
Billing Services Group Limited +1 210 949 7000
Norm Phipps
finnCap Limited +44 (0)20 7220 0500
Stuart Andrews/Scott Mathieson
BSG Media Relations +1 210 326 8992
Leslie Komet Ausburn
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
About BSG:
BSG has locations in San Antonio, Texas, USA and Aldermaston,
United Kingdom, and is traded on the London Stock Exchange (AIM:
BILL). For more information on BSG, visit www.bsgclearing.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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