MXC Capital Limited Results of General Meeting and Tender Offer (2608Q)
18 October 2019 - 12:08AM
UK Regulatory
TIDMMXCP
RNS Number : 2608Q
MXC Capital Limited
17 October 2019
17 October 2019
MXC Capital Limited
("MXC" or the "Company", together with its subsidiaries, the
"Group")
Results of General Meeting and Tender Offer
GBP1.7 million returned to shareholders
As announced on 2 October 2019, in line with its intention to
re-establish a policy of returning capital to Shareholders, the
Board of MXC resolved to return up to GBP1.7 million of capital to
Shareholders via a Tender Offer. The Tender Offer closed at 1.00pm
on 15 October 2019.
General Meeting
The Company announces that at the General Meeting held at 9.00
a.m. on 17 October, the resolutions proposed in the Notice of
General Meeting attached to the Circular in relation to the Tender
Offer, B Share Consolidation and Amendment to the Articles
published by the Company on 2 October 2019, were duly passed.
Results of Tender Offer
The Company confirms 48,933,165 Ordinary Shares were validly
tendered and 1,460,942 Ordinary Shares will be purchased at a price
per Ordinary Share of 116 pence, for an aggregate consideration of
GBP1.7 million. Tenders for up to and including the Tender Offer
Entitlement of 1 Ordinary Share for every 46 Ordinary Shares will
be met in full. Tenders received for surplus Ordinary Shares will
be met at the rate of 0.0014301 Ordinary Shares for each surplus
Ordinary Share tendered over and above the Tender Offer Entitlement
of 1 for 46, rounded down to the nearest whole Ordinary Share.
The Ordinary Shares to be purchased under the Tender Offer
represent approximately 2.17 per cent. of the Ordinary Shares in
issue.
All of the 1,460,942 Ordinary Shares purchased by the Company
will be cancelled. Cheques will be dispatched for certificated
Ordinary Shares purchased pursuant to the Tender Offer and payment
will be made through CREST for uncertificated Ordinary Shares
purchased pursuant to the Tender Offer, in each case, by 25 October
2019.
Total voting rights
With effect from 25 October 2019, the total number of
exercisable voting rights in the Company will reduce from
67,203,349 to 65,742,407. 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 Company.
Capitalised terms used in this announcement shall have the
meanings given in the Circular referred to above which is available
on the Company's website www.mxccapital.com
MXC Capital Limited
Ian Smith
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Nick Cowles, Dan Bate
+44 (0) 161 831 1512
About MXC Capital (www.mxccapital.com)
MXC is a specialist technology adviser and investor with a track
record of investing in and advising companies in the TMT sector.
MXC brings together a deep knowledge of technology, first-hand
experience of managing companies in the sector, an ability to make
meaningful investments and a highly experienced corporate advisory
team in support, all of which combine to grow shareholder
value.
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END
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