PME African Infrastructure Opps PLC Result of Tender Offer and Director's Dealing (8180Q)
15 September 2017 - 4:00PM
UK Regulatory
TIDMPMEA
RNS Number : 8180Q
PME African Infrastructure Opps PLC
15 September 2017
15 September 2017
PME African Infrastructure Opportunities plc
("PME" or the "Company")
(AIM: PMEA.L)
Result of Tender Offer
Director's Dealing
Further to the announcement of the result of the Extraordinary
General Meeting held on 6 September 2017, the Board of PME
announces that the current tender offer for the purchase of up to
16,389,294 Ordinary Shares (representing 40 per cent. of the
Ordinary Shares outstanding at the Record Time) at US$0.21 per
Ordinary Share (the "Current Tender Offer") closed at 1.00 p.m. on
13 September 2017.
A total of 21,449,271 Ordinary Shares were tendered and
16,389,294 Ordinary Shares, comprising 40.0 per cent. of the
Ordinary Shares outstanding will be purchased at a price per
Ordinary Share of US$0.21. It is expected that both the CREST
settlement of the Current Tender Offer and the despatch of cheques
in respect of certificated holdings, will take place on 19
September 2017.
The 21,449,271 Ordinary Shares tendered consisted of 14,314,229
Ordinary Shares validly tendered by Eligible Shareholders under
their Basic Entitlement and Excess Applications of a further
7,135,042 Ordinary Shares. As a result, 29.08 per cent. of Excess
Applications will be accepted under the Tender Offer.
As set out in the Current Tender Offer document, the 16,389,294
Ordinary Shares validly tendered will be cancelled. Therefore, with
effect from 19 September 2017 the total number of voting rights
attached to remaining Ordinary Shares will be 24,583,942. The
voting rights on all these shares are identical. 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,
following 19 September 2017.
Lawrence Kearns, a Director of the Company, tendered 14,800
Ordinary Shares in the Current Tender Offer at the Tender Price of
US$0.21 per share. Following completion of the Current Tender
Offer, Mr Kearns will hold 22,200 Ordinary Shares, which will
represent 0.1 per cent. of Company's issued ordinary share capital
following the cancellation of the Ordinary Shares validly tendered
under the Current Tender Offer.
All defined terms are as set out in the Circular and Tender
Form.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
For further information please contact:
Smith & Williamson Corporate
Finance Limited
Azhic Basirov / Ben Jeynes +44 20 7131 4000
Stifel Nicolaus Europe Limited
Neil Winward / Tom Yeadon +44 20 7710 7600
This information is provided by RNS
The company news service from the London Stock Exchange
END
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