TIDMBLTG

RNS Number : 7169Q

Blancco Technology Group PLC

19 October 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

19 October 2023

Blancco Technology Group plc

(the "Company" or "Blancco")

Proposed Cancellation of Admission of the Shares to Trading on AIM

Further to the announcement made on 16 October 2023 on the Offer made by Bidco for the entire issued and to be issued share capital of Blancco becoming unconditional, the Board of Blancco Technology Group plc (AIM: BLTG) today announces that it has made an application to the London Stock Exchange for the proposed cancellation of the admission to trading of the Company's ordinary shares on AIM (the "Cancellation"), in accordance with Rule 41 of the AIM Rules for Companies.

Under the AIM Rules, the Cancellation can only take place after the expiry of a period of twenty business days from the date on which notice of the Cancellation is given. It is therefore expected that Cancellation will occur on the 17 November 2023.

Following the Cancellation becoming effective and the Blancco Shares ceasing to be admitted to trading on AIM, Blancco Shareholders who have not accepted the Offer will own shares in an unlisted company and accordingly will not benefit from the protections under the AIM Rules that were afforded to them whilst Blancco was so admitted.

The Offer will remain open for acceptance until further notice. At least 14 days' notice will be given by an announcement before the Offer is closed. Subject to giving at least 14 days' notice, Bidco can close the Offer at any point, following which Shareholders who have not accepted the Offer will be unable to accept the Offer.

Blancco has been informed that Bidco intends, promptly following Cancellation, to proc ure that Blancco shall be re-registered as a private company. Blancco has also been informed that Bidco does not intend to put in place a matched bargain facility upon which Blancco Shares can be traded.

The cancellation of trading in Blancco Shares on AIM will significantly reduce the liquidity and marketability of any Blancco Shares in respect of which the Offer has not been accepted at that time. Any remaining Blancco Shareholders will become minority shareholders in a majority controlled private limited company and may therefore be unable to sell their Blancco Shares. There can be no certainty that Blancco will pay any further dividends or other distributions or that such minority Blancco Shareholders will again be offered an opportunity to sell their Blancco Shares on terms which are equivalent to or no less advantageous than those under the Offer. Also, following the Offer closing, Blancco Shareholders may not be able to sell their shares in the Company.

Capitalised terms and expressions used but not defined in this announcement have the same meanings as given to them in the Offer Document published by Bidco and dated 8 August 2023.

Enquiries:

 
 Blancco Technology Group plc                       Via Buchanan 
  Rob Woodward, Chair 
  Matt Jones, Chief Executive Officer 
  Adam Moloney, Chief Financial Officer 
 
  Rothschild & Co (Lead Financial Adviser            Tel: +44 (0) 20 7280 
  under Rule 3 of the Takeover Code to Blancco)      5000 
  Warner Mandel 
  Anton Black 
 
  Stifel Nicolaus Europe Limited (Joint 
  Financial Adviser and Corporate Broker             Tel: +44 (0) 20 7710 
  to Blancco)                                        7600 
  Nick Adams 
  Nick Harland 
  Richard Short 
  Ben Burnett 
 
   Buchanan Communications Limited (PR adviser        Tel: +44 (0) 20 7466 
   to Blancco)                                        5000 
   Chris Lane / Jack Devoy

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEALENFANDFFA

(END) Dow Jones Newswires

October 19, 2023 10:30 ET (14:30 GMT)

Blancco Technology (LSE:BLTG)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Blancco Technology Charts.
Blancco Technology (LSE:BLTG)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Blancco Technology Charts.