FLOR Fluormin

TIDMFLOR

RNS Number : 0093W

Fluormin PLC

23 January 2012

Fluormin plc

("Fluormin" or the "Company")

FLUORMIN ACQUIRES 97% OWNERSHIP OF SALLIES DEBENTURES PURSUANT TO MANDATORY BID PROCESS

The Company is pleased to announce that, as at the closing date of the unconditional mandatory offer ("the Offer") by the Company to Sallies debenture holders on 20 January 2012, valid acceptances have been received in respect of 56,492,972 Sallies debentures, representing approximately 39.16% of the Sallies debentures. As a result, the Company now holds 139,905,822 Sallies debentures representing 96.99% of the Sallies debentures in issue.

The offer to Sallies debenture holders consisted of either a cash payment of 50 rand cents or 0.064595 Fluormin ordinary shares for every Sallies debenture held. 1,593,892 acceptances were received in respect of the share consideration and 54,899,080 acceptances were received in respect of the cash consideration. Accordingly, and in terms of the Offer, the cash payment to be made by Fluormin to Sallies debenture holders will be R27,449,540 and the total number of Fluormin ordinary shares to be issued to Sallies debenture holders will be 102,950. Application has been made for the 102,950 Fluormin shares to be admitted to trading on AIM and admission is expected to take place in two tranches on 24 January 2012 and 27 January 2012 ("Admission"). Following Admission the total number of Fluormin shares in issue will be 55,865,722.

The Company expects Sallies to be delisted from the JSE Securities Exchange upon application.

Contact Information

 
Fluormin plc 
 
Al Gourley, Joint Chief Executive   (44)020-7556-0940, agourley@fluormin.com 
 Officer 
 
Mark Bolton, Joint Chief Executive  (44)020-7556-0940, mbolton@fluormin.com 
 Officer 
 
 Westhouse Securities 
 
Martin Davison                      (44)020 7601 6100, martin.davison@westhousesecurities.com 
 
Tim Feather                         (44)020 7601 6100, tim.feather@westhousesecurities.com 
 
 Tavistock Communications 
 
Lydia Eades                         (44)020 7290 3150, leades@tavistock.co.uk 
 
Jos Simson                          (44)020 7290 3150, jsimson@tavistock.co.uk 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQGMGZMFFGGZZM

Fluormin (LSE:FLOR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Fluormin (LSE:FLOR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024