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Name | Symbol | Market | Type |
---|---|---|---|
-3x Short China | LSE:CHNS | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.2295 | -4.80% | 4.5548 | 4.546 | 4.5635 | 0 | 16:35:11 |
TIDMCHNS
RNS Number : 4089F
China Shoto plc
26 April 2011
China Shoto plc ("China Shoto" or "the Company")
Result of Tender Offer
The Board of China Shoto is pleased to announce the result of the Tender Offer referred to in the circular sent to Shareholders of the Company dated 30 March 2011. This Tender Offer closed on 20 April 2011 in accordance with its timetable.
A total of 6,892,522 Ordinary Shares were validly tendered pursuant to the Tender Offer, representing approximately 29.53 per cent. of the current issued share capital and approximately 86.60 per cent. of the Tender Offer Shares.
The Tender Offer will be effected by Seymour Pierce Limited purchasing the Ordinary Shares as principal and then selling such Ordinary Shares on AIM to the Company for cancellation pursuant to the Repurchase Agreement. Following completion of the Tender Offer and cancellation of the Ordinary Shares, the Company will have a total of 16,451,248 Ordinary Shares in issue.
As of 29 March 2011, immediately prior to the announcement of the Tender Offer, the Directors beneficially owned or were interested in an aggregate of 15,384,615 Ordinary Shares. In accordance with their undertaking not to accept, or procure the acceptance of, the Tender Offer in respect of the 15,384,615 Ordinary Shares beneficially owned by them, the resultant shareholdings of the Directors are as follows:
Director Prior to Tender Offer On Completion of Tender Offer Percentage of Issued Share Percentage of Capital Number of Existing Number of following Ordinary Issued Share Ordinary Completion of Shares Capital Shares Tender Offer Yang Shanji 12,923,076 55.36% 12,923,076 78.55% Qian Shangao 615,385 2.64% 615,385 3.74% Zhou Yuezhang 615,385 2.64% 615,385 3.74% Zhou Ping 307,692 1.32% 307,692 1.87% Zhou Weigang 307,692 1.32% 307,692 1.87% Zhu Shiping 615,385 2.64% 615,385 3.74%
It is anticipated that CREST accounts will be credited with, and cheques despatched for, the Tender Offer proceeds and the final dividend for the year ended 31 December 2010 on 4 May 2011.
As previously announced, the proposed cancellation of admission of the Ordinary Shares to trading on AIM and the Repurchase are subject to shareholder approval at an Annual General Meeting on 26 April 2011, notice of which was sent to shareholders on 30 March 2011. Subject to Shareholder approval, cancellation is to become effective from 07:00 a.m. on 5 May 2011.
Terms defined in the circular have the same meanings in this announcement.
26 April 2011
For further information: China Shoto plc Tel: +44 (0) 20 7242 2666 / +86 Yang Shanji, Executive Chairman 159 6108 0515 www.chinashoto.com Seymour Pierce Limited Tel: +44 (0) 20 7107 8000 Stewart Dickson/ David Foreman www.seymourpierce.com Media enquiries: Tel: +44 (0) 20 7242 2666 / +852 Allan Piper/ Jiang Lei 2854 2666 lei@firstcitypr.com www.firstcitypr.cn
This information is provided by RNS
The company news service from the London Stock Exchange
END
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