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Share Name | Share Symbol | Market | Type |
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Arizona Land Income Corp | AMEX:AZL | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
RNS Number:5637I Azlan Group PLC 11 March 2003 11 March 2003 Azlan Group PLC Azlan Shareholders approve resolutions in connection with Tech Data (UK)'s recommended acquisition of Azlan by means of a Scheme of Arrangement Azlan announces that at the Court Meeting held earlier today a majority in number, representing in aggregate 99.8% in value, of the Azlan Shareholders present and voting (either in person or by proxy) approved the Scheme. At the Extraordinary General Meeting held immediately after the Court Meeting the requisite majority of Azlan Shareholders also passed the special resolution proposed in connection with the Scheme. The Scheme remains conditional upon the sanction of the Scheme and confirmation of the reduction of capital involved therein by the Court, satisfactory clearances of the acquisition by each of the European Commission and the Czech Competition Office and satisfaction or waiver of the other conditions set out in the circular to Azlan Shareholders dated 14 February 2003 (the "Shareholder Circular"). The Court hearings are expected to take place on 26 and 28 March 2003. Provided that the conditions set out above are satisfied within the anticipated timetable, it is expected that the Scheme will become effective on or about 31 March 2003 and that the Consideration will be despatched or settled through CREST no later than 14 days thereafter. Unless otherwise defined, expressions used in this announcement have the same meanings as given to them in the Shareholder Circular. Enquiries: Azlan Group PLC Peter Bertram, Chief Executive +44 (0)118 989 7762 Robert Contreras, Finance Director +44 (0)118 989 7762 Brunswick Andrew Fenwick +44 (0)20 7404 5959 UBS Warburg - financial adviser and broker to Azlan Hew Glyn Davies +44 (0)20 7567 8000 Tech Data/Tech Data (UK) Steven A. Raymund, Chairman and CEO +1 727 539 7429 Jeffery P. Howells, Executive Vice President and CFO +1 727 539 7429 Banc of America Securities - financial adviser to Tech Data and Tech Data (UK) William Wells +44 (0)20 7634 4800 Notes: On 6 February 2003, the Azlan Board and the boards of Tech Data and Tech Data (UK) announced a recommended proposal for Tech Data (UK) to acquire the entire issued and to be issued share capital of Azlan for cash by way of a scheme of arrangement. The proposal values each Azlan Share at 125 pence, valuing the whole of the issued share capital of Azlan at approximately #139.6 million and the issued and to be issued share capital at approximately #142.4 million. The cash consideration represented a premium of 38.9 per cent. over the Closing Price of 90 pence for an Azlan Share on 6 February 2003, the last dealing day prior to the Announcement, and 30.6 per cent. over the average Closing Price of 95.72 pence for an Azlan Share for the 30 dealing days up to and including the last dealing day prior to the Announcement. UBS Warburg is acting for Azlan as financial adviser in relation to the Proposal and is not acting for any other person in connection with the Proposal. UBS Warburg will not be responsible to anyone other than Azlan for providing the protections afforded to clients of UBS Warburg nor for giving advice in relation to the contents of this announcement or any offer or arrangement referred to herein. Banc of America Securities, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Tech Data (UK) and Tech Data in connection with the Proposal and will not be responsible to anyone other than Tech Data (UK) and Tech Data for providing the protections afforded to clients of Banc of America Securities nor for giving advice in relation to the contents of this announcement or any offer or arrangement referred to herein. END This information is provided by RNS The company news service from the London Stock Exchange END OUPFGGMFMMRGFZM
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