Taihua Plc Result of Tender Offer and Directors' Interests (5751X)

TIDMTAIH

RNS Number : 5751X

Taihua Plc

22 February 2017

The following amendment has been made to the 'Result of Tender Offer and Directors' Interests' announcement released on 22/02/2017 at 7:00 under RNS No 4823X.

The price quoted in the table of Directors Interests in the announcement was erroneously stated as 200p instead of the tender offer price of 3.28p. This has now been corrected.

All other details remain unchanged.

The full amended announcement is shown below.

Taihua plc

("Taihua" or the "Company")

Result of Tender Offer and Directors' Interests

The Company today announces the results of the Tender Offer set out in the shareholder circular published by the Company on 6 February 2017 (the "Circular"). The Tender Offer closed at 1.00 p.m. on 20 February 2017.

Result of Tender Offer

Under the Tender Offer, 7,490,352 Shares were validly tendered and 7,490,352 Shares will be purchased at a price per Share of 3.28 pence, for an aggregate purchase price of GBP245,683.45. The Shares to be purchased under the Tender Offer represent approximately 7.16 per cent. of the Company's entire issued share capital.

It is anticipated that the proceeds payable under the Tender Offer to the Shareholders who hold their Shares in certificated form will be dispatched no later than 28 February 2017 in the form of a cheque. Those Shareholders who hold their Shares in uncertificated form will have their CREST accounts credited no later than 28 February 2017.

As set out in the Circular, the Shares will be purchased by Daniel Stewart & Company plc pursuant to the Tender Offer and the Company will purchase such Ordinary Shares from them under the terms of the Repurchase Agreement as described in the Circular. The Shares will be acquired into Treasury, and further announcements will be made in due course. The Company intends to ultimately cancel the Shares purchased by it under the Repurchase Agreement. Further announcements will be made in due course.

Directors' Interests

The Directors' participation in the Tender Offer is set out below:

 
                    Number   Percentage       Number of         Number       Percentage 
               of Ordinary    of issued        Ordinary    of Ordinary        of issued 
                    Shares        share     Shares sold         Shares         ordinary 
                  prior to      capital       under the      following    share capital 
                the Tender        prior    Tender Offer     the Tender        following 
                     Offer       to the        at 3.28p          Offer     cancellation 
                                 Tender    per Ordinary                          of the 
                                  Offer           Share                          Tender 
                                                                           Offer shares 
-----------  -------------  -----------  --------------  -------------  --------------- 
 Nicholas 
  Lyth             340,000         0.32         340,000              0                0 
-----------  -------------  -----------  --------------  -------------  --------------- 
 Yunwu Liu      11,008,650        10.52               0     11,008,650            11.33 
-----------  -------------  -----------  --------------  -------------  --------------- 
 Mingjian 
  Yin           23,703,826        22.65               0     23,703,826            24.40 
-----------  -------------  -----------  --------------  -------------  --------------- 
 Chun Chai       5,504,325         5.26               0      5,504,325             5.67 
-----------  -------------  -----------  --------------  -------------  --------------- 
 Zhaoyang 
  Ma                     0            0               0              0                0 
-----------  -------------  -----------  --------------  -------------  --------------- 
 Chong Cao               0            0               0              0                0 
-----------  -------------  -----------  --------------  -------------  --------------- 
 

Capitalised terms used in this announcement have the same meanings given to them in the Circular.

Enquiries:

   Nicholas Lyth, Taihua plc                                            0776 990 6686 
   Katy Mitchell, WH Ireland Limited                               [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 22, 2017 09:00 ET (14:00 GMT)