Source - RNS
RNS Number : 4834M
Avarae Global Coins PLC
13 October 2016
 

AVARAE GLOBAL COINS PLC

 

("Avarae" or the "Company")

 

Result of Extraordinary General Meeting

and

Cancellation of admission of Ordinary Shares to trading on AIM

 

Avarae (AIM: AVR.L) is pleased to announce that at the Extraordinary General Meeting of the Company held today, the delisting resolution was duly passed by Shareholders.

 

Accordingly, as announced on 19 September 2016, Avarae intends to:

 

•        cancel the admission of its Ordinary Shares to trading on AIM;

•         provide Qualifying Shareholders with an opportunity to realise some or all of their investment in
Avarae Global Coins by accepting the Tender Offer pursuant to which WH Ireland will conditionally
offer to purchase up to 16,156,667 Ordinary Shares at 11.5 pence per Ordinary Share; and

·        to undertake further buybacks of up to 16,156,667 Ordinary Shares following completion of the Tender Offer and the De-Listing.

 

Cancellation of the admission of the Company's ordinary shares to trading on AIM is expecting to occur on or around 7.00am on 25 October 2016. A further announcement will be made in due course.

 

 

Shareholders looking to partake in the in the Tender Offer should refer to the circular which was previously sent to shareholders and is available at: http://www.avarae.com/investor-relations-2/documentation-sent-to-shareholders/ for further details.

 

 

Nigel Gautrey/Matt Wood


+44 (0)16 2461 5614

Avarae Global Coins plc

 




Paul Shackleton/Nick Prowting

+44 (0)20 7220 1666

WH Ireland Ltd


 

 

 

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

 

 


2016

 

Latest time and date for receipt of Tender Forms and TTE Instructions in relation to the Tender Offer and Tender Offer closes                                                                                    

11.00 a.m. on 20 October

Record Date for Tender Offer

5.00 p.m. on 20 October

Announcement of results of the Tender Offer by WH Ireland and the Company      

21 October

Purchase of Tender Offer Shares under the Tender Offer                        

On or around 24 October

Earliest date for the De-Listing and cancellation of admission of the Ordinary Shares to trading on AIM            

7.00 a.m. on 25 October

Despatch of cheques for Tender Offer proceeds         

No later than 1 November

CREST accounts credited with Tender Offer proceeds              

No later than 1 November

Despatch of share certificates in respect of any revised holdings of Ordinary Shares following the Tender Offer, and any Ordinary Shares held in CREST not tendered pursuant to the Tender Offer                                                                                  

No later than 1 November

Proposed Buybacks

Anticipated to complete by 31 March 2018

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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