Avanta Serviced Office Group PLC Delisting (0601C)

TIDMASOG

RNS Number : 0601C

Avanta Serviced Office Group PLC

14 January 2015

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

14 JANUARY 2015

For immediate release

AVANTA SERVICED OFFICE GROUP PLC

("AVANTA" or the "company")

NOTICE OF CANCELLATION OF ADMISSION TO TRADING OF AVANTA SHARES ON AIM

Further to the announcement made by Tosca Vehicle Limited ("TVL") on 2 January 2015 that it had acquired or had received valid acceptances of the Offer in respect of, in aggregate, 28,685,586 Avanta Shares (representing approximately 87.7 per cent. of the total issued share capital of the Company) the Company confirms that, at the request of TVL, it has applied to the London Stock Exchange for the cancellation of trading in Avanta Shares on AIM (the "Cancellation").

In accordance with AIM Rule 41, it is expected that the Cancellation will become effective at 7.00 a.m. on 12 February 2015.Accordingly the last date for dealing in Avanta Shares on AIM will be 11 February 2015.

The Cancellation will significantly reduce the liquidity and marketability of any Avanta Shares held by persons who have not accepted the Offer and Avanta Shareholders should be aware that there may be no future market for Avanta Shareholders to realise their investment in the Company.

Following the Cancellation becoming effective, it is intended that the Company be re-registered as a private company under the Companies Act as this will reduce both the costs and complexities of operating the Company.

Terms used but not defined in this announcement shall have the meaning given to them in the Offer Document dated 10 December 2014.

Enquiries:

 
Avanta Serviced Office Group plc       Tel: [phone] 
 Daniel Taylor, Chairman                6000 
 Alan Pepper, Chief Executive Officer 
Shore Capital and Corporate Limited    Tel: +44 (0) 207 
 (Nomad to Avanta)                      408 4090 
 Stephane Auton 
 Patrick Castle 
Weber Shandwick                        Tel: +44 (0) 207 
 Nick Oborne                            367 5100 
 

Shore Capital and Corporate Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Avanta and for no-one else in connection with the Offer and will not be responsible to anyone other than Avanta for providing the protections afforded to clients of Shore Capital and Corporate Limited nor for providing advice in relation to the Offer or any other matter or arrangement referred to in this announcement.

This announcement is for information purposes only. It is not intended to and does not constitute, or form part of, an offer or invitation or the solicitation of any offer to sell or purchase any securities or the solicitation of any offer to otherwise acquire, subscribe for, sell or otherwise dispose of any security pursuant to the Offer or otherwise. The Offer will be made solely by means of the Offer Document and, in respect of Avanta Shares held in certificated form, the Form of Acceptance, which will contain the full terms and conditions of the Offer, including details of how the Offer may be accepted. Any decision in respect of, or other response to, the Offer should be made only on the basis of the information contained in those documents.

This announcement does not constitute a prospectus or prospectus equivalent document.

Ends

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFIELEIVLIE