Completion of Capital Reduction

 

TIDMCMF 
 
RNS Number : 4156O 
CMR Fuel Cells PLC 
05 March 2009 
 

 
 
5 March 2009 
 
 
CMR Fuel Cells plc ("Company" or "CMR") 
 
 
Reduction of capital, completion of tender offer, declaration of special 
dividend and cancellation of admission to trading on AIM 
 
 
The Board of CMR Fuel Cells plc is pleased to announce that the reduction of 
capital referred to in the circular sent to shareholders on 14 January 2009 (the 
"Circular") has now become effective. 
 
 
Capitalised terms used but not defined in this announcement shall have the 
meaning given to them in the Circular.All conditions regarding completion of the 
Tender Offer have now been satisfied and the Board is also pleased to announce 
that the Tender Offer has now completed in accordance with its terms. It is 
anticipated that those Shareholders whose shares were validly tendered and 
purchased under the Tender Offer will be issued with a cheque or have their 
CREST accounts credited by 19 March 2009. In addition, it is anticipated that 
CREST accounts will be credited, balance certificates will be issued and share 
certificates for unsuccessfully tendered Ordinary Shares will be sent by 19 
March 2009. 
 
 
Accordingly, and as set out in the Expected Timetable of Principal Events 
contained in the Circular, the Directors of the Company have declared a special 
dividend of 17 pence per Ordinary Share. The Special Dividend will be paid to 
Shareholders on the register of members of the Company at 5.00 p.m. on 27 March 
2009 and in respect of their Ordinary Shares held on such date. 
 
 
Following completion of the Tender Offer and the related cancellation of the 
Ordinary Shares successfully tendered, the Company has a total of 9,560,570 
Ordinary Shares of 0.6 pence each in issue. 
 
 
So as to be able to declare the Special Dividend, the Company was required to 
prepare interim accounts that reflect the Company's financial position following 
completion of the Capital Reduction and Tender Offer. Accordingly, the Company 
has delivered to the Registrar of Companies interim accounts of CMR Fuel Cells 
plc for the period from 1 January 2008 to 5 March 2009. These are unaudited 
interim accounts for CMR Fuel Cells plc and are not consolidated financial 
results for the group. 
 
 
Following the approval of Shareholders at the General Meeting of the Company 
which was held on 6 February 2009, the cancellation of admission of the 
Company's shares to trading on AIM is expected to become effective at 7a.m. on 3 
April 2009 
 
 
 
 
 
 
Further Information 
 
John Halfpenny  CMR Fuel Cells plc               01223 875 544 
CEO 
 
Vikki Krause  Hansard Group                     020 7245 1100 
 
Michael Ansell              Investec Investment Banking      020 7597 5970 
Daniel Adams 
 
 
Investec Investment Banking, which is regulated for designated investment 
business in the UK by the Financial Services Authority, is acting for CMR Fuel 
Cells plc and no one else in connection with the Tender Offer and will not be 
responsible to anyone other than for CMR Fuel Cells plc providing the 
protections afforded to customers of Investec Investment Banking or for 
providing advice in relation thereto or for advising any such person on the 
contents of this document or any transaction or agreement referred to herein. 
 
Overseas Shareholders should inform themselves about and observe any applicable 
legal or regulatory requirements. If they are in any doubt about their position, 
they should consult their professional advisor in the relevant territory. 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCEAXDSEEDNEFE