TyraTech, Inc. Result of Tender Offer (8071B)

TIDMTYR TIDMTYRU

RNS Number : 8071B

TyraTech, Inc.

15 January 2018

For immediate release: 15(th) January 2018

The following announcement replaces that which was released on 5 January 2018 at 7:00am RNS number 0361B.

The previous announcement included the Company's 1,084,413 Common Shares which are held in Treasury when calculating the denominator to be used by Shareholders. For consistency with the previous convention adopted by the Company, the reference to "162,672,054" as the denominator should have been "161,587,641". The full amended text appears below.

TYRATECH, INC.

("TyraTech" or the "Company")

Result of Tender Offer

TyraTech Inc. (AIM: TYR, and TYRU), the life sciences company focused on nature-derived insect and parasite control products, is pleased to announce the results of the Tender Offer, details of which were set out in the shareholder circular published by the Company on 4 December 2017.

Result of Tender Offer

Under the Tender Offer 204,994,390 Common Shares were validly tendered and will be purchased at a price per Common Share of 3 pence, for an aggregate purchase price of $8.4 million. The Common Shares purchased under the Tender Offer represent approximately 55.8 per cent. of the Company's Issued Capital.

It is anticipated that the proceeds payable under the Tender Offer to the Company's Shareholders who hold their Shares in certificated form will be despatched on 15 January 2018 in the form of a cheque. Those Shareholders who hold their Shares in uncertificated form will have their CREST accounts credited on 8 January 2018.

The Company intends to retire the Common Shares purchased by it under the Tender Offer, reducing the number of issued and outstanding Shares from 367,666,444 Shares to 162,672,054 Common Shares. The Company has 1,084,413 Common Shares held in Treasury.

It is anticipated that retirement of the shares will occur on 8 January 2018 and after this time Shareholders may use 161,587,641 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

Directors' Interests

 
                     Number   Percentage        Number        Number  Percentage 
                  of Shares    of issued     of Shares     of Shares   of issued 
                      prior      capital          sold     following   capital 
                     to the      (voting         under    the Tender   (voting 
                     Tender      rights)    the Tender         Offer   rights) 
                      Offer        prior         Offer                 following 
                                  to the                               retirement 
                                  Tender                               of the 
                                   Offer                               Tender 
                                                                       Offer shares 
--------------  -----------  -----------  ------------  ------------  ------------- 
 James Hills      3,029,957        0.83%           nil     3,029,957          1.88% 
--------------  -----------  -----------  ------------  ------------  ------------- 
 Bruno Jactel     2,438,157        0.67%           nil     2,438,157          1.51% 
--------------  -----------  -----------  ------------  ------------  ------------- 
 Barrington 
  Marshall 
  Riley           3,723,413        1.02%           nil     3,723,413          2.30% 
--------------  -----------  -----------  ------------  ------------  ------------- 
 

-ends-

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meaning as defined in the Circular.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information:

 
TyraTech Inc.                          Tel: [phone] 
 Bruno Jactel, Chief Executive                    4340 
 Officer                               Tel: [phone] 
 Erica H. Boisvert, Chief Financial               4287 
 Officer 
 www.tyratech.com 
 SPARK Advisory Partners Limited      Tel: [phone] 
  (Nominated Adviser)                             3552 
  Matt Davis / Mark Brady 
 Allenby Capital Limited (Broker)     Tel: [phone] 
  Chris Crawford                                  5656 
 
Belvedere Communications (PR)         Tel: [phone] 
 John West / Kim van Beeck                        0510 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 15, 2018 02:00 ET (07:00 GMT)