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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bioquell | LSE:BQE | London | Ordinary Share | GB0004992003 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 597.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBQE
RNS Number : 7308W
Bioquell PLC
29 April 2016
BIOQUELL PLC
Intention to return approximately GBP42.7 million to
Bioquell shareholders by way of a tender offer
Anticipated tender offer terms: GBP2 per Share in respect of
50% of the issued Share capital
The Board of Bioquell PLC ("Bioquell" or the "Company") announces that it has concluded that it would be helpful for the Strategic Review process and in the best interests of Bioquell shareholders ("Shareholders") if a substantial proportion of the cash currently on the Company's balance sheet were returned to Shareholders by way of tender offer.
Accordingly, the Board of Bioquell announces that it intends to launch in due course and subject to Shareholder approval, a tender offer in respect of 50% of the Company's issued ordinary Share capital at a price of GBP2.00 per Share.
The Company currently has approximately 42.7 million Shares in issue.
A detailed announcement, and the documentation required to effect this return of capital, will follow as soon as practical.
The Company remains in an offer period under the framework provided by a formal sales process under the Takeover Code
Commenting on the announcement, Nigel Keen, Chairman of Bioquell PLC said:
"It has become clear from our discussions that having such a large amount of cash on our balance sheet is unhelpful within the context of the Strategic Review and accordingly we have concluded that we should proceed with returning the equivalent of a GBP1 per Share in cash to Bioquell shareholders via a tender offer."
- Ends -
ENQUIRIES
Bioquell PLC - tel: 01264 835 900
Nigel Keen
Nick Adams
Michael Roller
N+1 Singer - tel: 020 7496 3000
Nic Hellyer
James White
This information is provided by RNS
The company news service from the London Stock Exchange
END
TENLLFEESRITFIR
(END) Dow Jones Newswires
April 29, 2016 02:00 ET (06:00 GMT)
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