We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pinnacle Data Systems Common Stock | AMEX:PNS | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
RNS Number:2620R Oakburn Properties PLC 23 October 2003 23 October 2003 Oakburn Properties PLC Offer by John East & Partners Limited on behalf of Panther Securities PLC The Board of Oakburn Properties PLC ("Oakburn" or the "Company") announces that, at the Annual General Meeting of the Company held on 20 October 2003, all of the resolutions were passed. These included resolutions that authorised the extension of the option agreements dated 25 September 1998 (the " Blausten Option Agreements") between the Company and each of Douglas and Simon Blausten by amending the definition of "Expiry Date" in each Blausten Option Agreement to 22 January 2004. In addition, the resolutions at the Annual General Meeting extended the waiver of the requirement to make a general offer for the issued share capital of the Company pursuant to Rule 9 of the City Code on Takeovers and Mergers (the "Code") for a similar period. On 21 October 2003, the Company received written notice from each of Douglas and Simon Blausten that they now wished to exercise all of the 48,0000 options held by each of them under the Blausten Option Agreements. The Company must, as soon as reasonably practicable, send to the optionholders a notice of confirmation. The optionholders have 30 days from the receipt of the notice of confirmation in which to pay for the option shares. The Company must issue the shares to the optionholders within 30 days of receipt of the funds. The option agreement dated 25 September 1998 between the Company and Peter Martin granting options over 48,000 new ordinary shares lapsed on 22 October 2003. The lapsing of these options has an impact upon the value of the offer by Panther Securities PLC announced on 17 October 2003 (the "Offer"). Under the terms of this Offer, the Board of Oakburn believes that the amount being offered per share would rise from 560p to 576.66p per Oakburn share. Pursuant to Rule 2.10 of the Code, the relevant securities currently in issue in Oakburn are as follows: 845,968 ordinary shares of #1 each; and 96,000 options to acquire new ordinary shares. Assuming the issue of shares to Douglas and Simon Blausten as described above, the relevant number of securities in issue in Oakburn would increase to 941,968 ordinary shares of #1 each. Enquiries: Oakburn Properties PLC David Rayner, Chairman 020 7831 3125 Brendan Gorman, Company Secretary City Financial Associates Limited Tony Rawlinson 020 7090 7801 The Independent Directors of Oakburn Properties PLC (the "Independent Directors") accept responsibility for the information contained in this announcement and have confirmed that the information contained in this announcement is in accordance with the facts (having taken all reasonable care to ensure that such is the case) and does not omit anything likely to affect the import of such information. City Financial Associates Limited, which is regulated in the United Kingdom by The Financial Services Authority, is acting as the independent financial adviser to the Independent Directors and Oakburn Properties PLC and to no one else and will not be responsible to anyone other than the Independent Directors and Oakburn Properties PLC for providing the protections afforded to clients of City Financial Associates Limited or for providing advice in relation to the matters contained in this letter. If you are in any doubt about the contents of this letter or about what action you should take you should immediately seek your own personal advice from an independent financial adviser authorised under the Financial Services and Markets Act 2000 who specialises in advising on the acquisition of shares and other securities. This information is provided by RNS The company news service from the London Stock Exchange END OUPMJBRTMMBTBLJ
1 Year Pinnacle Data Sys In Chart |
1 Month Pinnacle Data Sys In Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions