TIDMERE

RNS Number : 4298Q

Eredene Capital PLC

14 October 2013

 
 Date:           14 October 2013 
 On behalf of:   Eredene Capital plc ("Eredene", "Eredene 
                  Group" or "the Company") 
 For immediate 
  release

Eredene Capital Plc

Result of Tender Offer

Eredene Capital PLC (AIM: ERE), the AIM quoted investor in Indian infrastructure, announces that, following approval of the proposed Tender Offer by shareholders at the General Meeting of the Company held on 12 September 2013, the necessary Court approval for the Reduction of Capital has also now been received.

The Board also announces that a total of 346,233,002 shares were tendered under the Tender Offer. As a result, the Basic Entitlement of all Shareholders who have validly tendered their shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 0.60668 per cent. of the excess shares tendered. Therefore 115,838,216 shares will be repurchased at 17.2 pence per share by the Company under the Tender Offer and subsequently cancelled.

Payment of the consideration due to Shareholders whose tenders under the Tender Offer have been accepted is expected to be despatched (by cheque or by a CREST payment, as appropriate) on 15 October 2013. Balance certificates will be despatched in respect of non-tendered shares in the week commencing 14 October 2013.

Following the implementation of the Tender Offer and the cancellation, the Company will have 246,156,210 Shares in issue.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.

For further information:

 
 Eredene Capital PLC 
  Alastair King (Chief Executive) / Gary            Tel: +44 20 7448 
  Varley (Finance Director)                         8000 
 Eredene Capital Advisors Private Limited 
  Ranveer Sharma (Managing Director)                Tel: +91 22 6737 
  Ranveer.Sharma@eredene.com                        7373 
 Numis Securities Limited (Nominated adviser 
  & broker)                                         Tel: +44 20 7260 
  Heraclis Economides (Nominated Adviser)           1000 
  / David Benda 
 Redleaf Polhill (Financial PR) 
  Henry Columbine / David Ison / Hannah Fensome     Tel: +44 20 7382 
  eredene@redleafpolhill.com                        4720

Notes to Editors:

-- Eredene Capital PLC is a leading UK-based AIM quoted investor in infrastructure projects in India. Following the sale of its stake in OSL, it has a portfolio of eight principal investments in India, seven in port services, warehousing and logistics and one in low-cost housing (www.eredene.com).

-- Eredene trades on the Alternative Investment Market ("AIM") of the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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