Thruvision Group PLC Announcement of Results of Tender Offer (3681X)
09 August 2018 - 9:30PM
UK Regulatory
TIDMTHRU
RNS Number : 3681X
Thruvision Group PLC
09 August 2018
9 August 2018
Thruvision Group plc
Result of Tender Offer
Thruvision Group plc (AIM: THRU) ("ThruVision", the "Company"
or, together with its subsidiary undertakings, the "Group") the
specialist provider of people-screening technology to the global
security market, today announces the result of the Tender Offer set
out in the shareholder circular published by the Company on 4 July
2018 (the "Circular"). The Tender Offer closed at 1.00 p.m. on 8
August 2018.
Result of the Tender Offer
19,675,906 Ordinary Shares were validly tendered under the
Tender Offer (being 11.92% per cent. of the Company's Shares in
issue as at 8 August 2018) and, as a result, the Tender Offer was
not fully subscribed. The Basic Entitlement of all Shareholders who
have validly tendered their Shares will be accepted in full and
excess tenders will also be satisfied in full, meaning 100% of the
excess Ordinary Shares validly tendered will be purchased. The
total value of all Ordinary Shares purchased is
GBP3,344,904.02.
It is anticipated that the proceeds payable under the Tender
Offer to the Company's shareholders who hold their Ordinary Shares
in certificated form will be despatched no later than 15 August
2018 in the form of a cheque. Those shareholders who hold their
Ordinary Shares in uncertificated form will have their CREST
accounts credited no later than 15 August 2018.
As set out in the Circular, the Ordinary Shares will be
purchased by Investec Bank plc pursuant to the Tender Offer and the
Company will purchase such Ordinary Shares from Investec Bank plc
under the terms of the Repurchase Agreement described in the
Circular. The Company intends to cancel the Ordinary Shares
purchased by it under the Repurchase Agreement, reducing the number
of Ordinary Shares in issue from 165,130,024 Ordinary Shares to
145,454,118 Ordinary Shares (the "Cancellation"). Accordingly,
following the Cancellation, which is expected to take place on or
before 17 August 2018, 145,454,118 Ordinary Shares 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 interests in, the Company under the FCA's
Disclosure Guidance and Transparency Rules (the "DTR Rules").
In accordance with rule 5.1.2(2) of the DTR Rules Tom Black,
Executive Chairman of Thruvision, has notified the Company that
following the Cancellation, his total shareholding in the Company
will continue to be 11,349,444 Ordinary Shares and, as a result of
the Cancellation, his percentage shareholding of the Company's
total issued share capital and total voting rights will increase
from 6.87% to 7.8%.
For further information please contact:
Thruvision Group plc +44 (0)1235 436180
Tom Black, Executive Chairman
Colin Evans, Managing Director
Investec Bank plc +44 (0)20 7597 5970
Andrew Pinder / Sebastian Lawrence / Patrick Robb
FTI Consulting LLP +44 (0)20 3727 1000
Matt Dixon / Harry Staight
About Thruvision
Thruvision Group plc is a specialist provider of
people-screening technology that can detect weapons, explosives and
contraband hidden under clothing. Developed with extensive support
from the British and US Governments, Thruvision technology is
operationally proven and is being used to enhance the security of
transport hubs, borders, high profile buildings and public
areas.
www.thruvision.com
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.
END
RTEPLMBTMBTMBFP
(END) Dow Jones Newswires
August 09, 2018 07:30 ET (11:30 GMT)
Thruvision (LSE:THRU)
Historical Stock Chart
From Apr 2024 to May 2024
Thruvision (LSE:THRU)
Historical Stock Chart
From May 2023 to May 2024