ERE Eredene Cap.

TIDMERE

RNS Number : 7207Y

Eredene Capital PLC

03 December 2014

3 December 2014

Eredene Capital PLC

("Eredene" or the "Company")

Result of Tender Offer

Further to the Tender Offer announced on 3 November 2014, the directors of the Company are pleased to announce that a total of 193,828,594 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 0.325495 per cent. of the excess shares tendered. Therefore 29,538,745 shares will be repurchased at 10 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 4 December 2014. Balance certificates will be despatched in respect of non-tendered shares in the week commencing 8 December 2014.

Following the implementation of the Tender Offer and the cancellation, the Company will have 216,617,465 Shares in issue.

Cancellation

Following the approval of the proposed Cancellation by shareholders at the General Meeting, application has been made to the London Stock Exchange for the admission to trading on AIM of the Ordinary Shares to be cancelled and Cancellation is expected to take effect at 7.00 a.m. on 11 December 2014.

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

All references to time in this announcement are to UK time. Capitalised terms in this announcement (unless otherwise defined) have the same meanings as set out in the Circular.

Enquiries:

 
 Ocean Dial Asset Management Limited (Investment Manager & Administrator) 
 David Cornell 
 Robin Sellers 
 Tel: +44 20 7802 8900 
 
 
 Grant Thornton UK LLP (Nominated Adviser) 
 Philip Secrett 
 Jen Clarke 
 Jamie Barklem 
 Tel: +44 20 7383 5100 
 
 
 Numis Securities Limited (Broker) 
 David Benda 
 Hugh Jonathan 
 Tel: +44 20 7260 1000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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