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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Westridge Resources Inc. | CSE:WST | CSE | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.60 | 0.01 | 0.62 | 0 | 01:00:00 |
RNS Number:4490L Westside Acquisitions PLC 22 May 2003 Westside Acquisitions plc ("Westside" or "the Company") On 21 May 2003 the High Court approved the cancellation of the Company's share premium account, being the sum of #4,443,200, and a certificate was issued by the Registrar of Companies on 22 May 2003 enabling the Tender Offers announced on 18 March 2003 to be completed. A total of 13,085,898 Westside Shares, representing approximately 11.84 per cent. of the Company's current issued share capital, are today being purchased on-market by Seymour Pierce Limited at 3p each and these shares will then be purchased today on-market by the Company at the same price for cancellation. The Company will also today purchase 1,731,000 Westside Warrants exercisable at 2.5p per share until 7 December 2004 ("Westside Warrants") at 0.5p (being 3p less the warrant exercise price of 2.5p) and these warrants will then be purchased today on-market by the Company at the same price for cancellation. As indicated in the announcement on 9 April 2003, all valid tenders were accepted in full. Payment for shares and warrants tendered will be made by 29 May 2003 and new share and warrant certificates, where required, will be dispatched by 29 May 2003. The aggregate consideration payable to shareholders and warrantholders validly accepting the Tender Offers is #401,231.94. After taking into account the consideration payable and the costs incurred in relation to the Tender Offers and the Offers for RTI announced on 18 March 2003, the Company had cash balances of approximately #2,235,529 (based on the unaudited cash balances as at 22 May 2003). As a result of the Tender Offers, the number of Westside Shares in issue will reduce from 110,535,145 to 97,449,247 and the number of Westside Warrants in issue will reduce from 8,762,128 to 7,031,128. The Company also has authority to make further on-market purchases of up to 5,838,379 Westside Shares, equivalent to approximately 6 per cent. of the issued ordinary share capital of the Company, as reduced by the Tender Offers. The tables below summarise the effect of the Tender Offers, implemented today, on the holdings of Directors and those shareholders having a disclosable interest. Westside Shareholdings - Directors Director Prior to the Tender Offers Following the Tender Offers Number of % of the Number of % of the Westside Shares issued share Westside Shares issued share interested in capital interested in capital Richard 11,230,681 10.16 11,230,682 11.52 Owen Geoffrey 11,230,681 10.16 11,230,682 11.52 Simmonds David 600,000 0.54 600,000 0.62 Meddings John 3,427,272 3.10 3,427,272 3.52 Zucker David 690,909 0.63 690,909 0.71 Coldbeck Westside Warrantholdings (exercisable at 2.5p until 7 December 2004) - Directors Director Prior to the Tender Offers Following the Tender Offers Number of % of the Number of % of the Westside issued Westside issued Warrants Westside Warrants Westside interested in Warrants interested in Warrants Richard - - - - Owen Geoffrey - - - - Simmonds David 400,000 4.57 400,000 5.69 Meddings John 2,000,000 22.83 2,000,000 28.44 Zucker David 400,000 4.57 400,000 5.69 Coldbeck Westside Warrantholdings (exercisable at 2.75p until 21 December 2005) - Directors Director Prior to the Tender Offers Following the Tender Offers Number of New % of the Number of New % of the Westside issued New Westside issued New Warrants Westside Warrants Westside interested in Warrants interested in Warrants Richard 2,636,363 20.73 2,636,363 20.73 Owen Geoffrey 2,636,363 20.73 2,636,363 20.73 Simmonds David 47,272 0.37 47,272 0.37 Meddings John 229,090 1.80 229,090 1.80 Zucker David 70,000 0.55 70,000 0.55 Coldbeck Westside Shareholdings - Shareholders with a disclosable interest Name Prior to the Tender Following the Tender Offers Offers Number of % of the Number of % of the Westside issued Westside issued Shares share Shares share interested capital interested capital in in HSBC Global 3,718,181 3.36 3,718,181 3.82 Custody Nominee (UK) Ltd Lafferty 3,654,545 3.31 3,654,545 3.75 Limited Warren 3,409,090 3.08 3,409,090 3.50 Roiter William 8,977,272 8.12 8,977,272 9.21 Weston Westside Warrantholdings (exercisable at 2.5p until 7 December 2004) - Warrantholders with a disclosable interest Name Prior to the Tender Offers Following the Tender Offers Number of % of the Number of % of the Westside issued Westside issued Warrants Westside Warrants Westside interested in Warrants interested in Warrants Seymour 1,000,000 11.41 - - Pierce Limited Puma 248,364 2.83 248,364 3.53 Nominees Sky 1,000,000 11.41 1,000,000 14.22 Capital UK Nominees Warren 2,000,000 22.83 2,000,000 28.44 Roiter Westside Warrantholdings (exercisable at 2.75p until 21 December 2005) - Warrantholders with a disclosable interest Name Prior to the Tender Offers Following the Tender Offers Number of New % of the Number of New % of the Westside issued New Westside issued New Warrants Westside Warrants Westside interested in Warrants interested in Warrants William 909,090 7.15 909,090 7.15 Weston Seymour 436,363 3.43 436,363 3.43 Pierce Limited Lafferty 910,909 7.16 910,909 7.16 Limited Warren 2,409,090 18.94 2,409,090 18.94 Roiter Seymour Pierce is acting exclusively for Westside and no one else in connection with the Tender Offers and will not be responsible to anyone other than Westside for providing the protections afforded to customers of Seymour Pierce, nor for providing advice in relation to the Tender Offers. This announcement does not constitute an offer or an invitation to purchase any securities. The Board of Westside accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Board of Westside (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Expressions used in this announcement shall, unless the context otherwise requires, bear the same meanings as in the circular issued by Westside on 18 March 2003. This information is provided by RNS The company news service from the London Stock Exchange END TENNKBKBQBKDNPB
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