Share Name Share Symbol Market Type
Billing Services G Com Stk USD0.59446 NEX:BILL.GB NEX Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.20p 2.10p 3.10p - - - 0 16:30:04

Billing Services Group Limited Result of Tender Offer

15/12/2017 7:00am

UK Regulatory (RNS & others)

Billing Services G Com Stk USD0.59446 (NEX:BILL.GB)
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RNS Number : 4383Z

Billing Services Group Limited

15 December 2017


15 December 2017

Billing Services Group Limited

('BSG' or the 'Company')

Result of Tender Offer

BSG is pleased to announce the results of the Tender Offer set out in the shareholder circular published by the Company on 6 December 2017. The Tender Offer closed at 1.00 p.m. on 14 December 2017.

Result of Tender Offer

Under the Tender Offer 250,145,408 Shares were validly tendered and 117,647,059 Shares will be purchased at a price per Share of US$0.0425, for an aggregate purchase price of US$5.0 million. The Shares purchased under the Tender Offer represent approximately 41.7 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 no later than 21 December 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 21 December 2017.

The Company intends to cancel the Shares purchased by it under the Tender Offer, reducing the number of Shares in issue from 282,415,748 Shares to 164,768,689 Shares. It is anticipated that cancellation will occur at 5.00 p.m. on 21 December 2017 and after this time Shareholders may use 164,768,689 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

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

                         Number   Percentage        Number        Number      Percentage 
                      of Shares    of issued     of Shares     of Shares       of issued 
                          prior      capital    sold under     following         capital 
                         to the        prior    the Tender    the Tender       following 
                         Tender       to the         Offer         Offer    cancellation 
                          Offer       Tender                                      of the 
                                       Offer                                      Tender 
------------------  -----------  -----------  ------------  ------------  -------------- 
 Norman M. 
  Phipps             19,703,860         6.98     9,064,916    10,638,944            6.46 
------------------  -----------  -----------  ------------  ------------  -------------- 
 Patrick D.                   -            -             -             -               - 
------------------  -----------  -----------  ------------  ------------  -------------- 
 Admiral Leighton 
  W. Smith              150,000         0.05        69,009        80,991            0.05 
------------------  -----------  -----------  ------------  ------------  -------------- 
 Gregory Carter         151,250         0.05        69,583        81,667            0.05 
------------------  -----------  -----------  ------------  ------------  -------------- 
 Denham Eke                   -            -             -             -               - 
------------------  -----------  -----------  ------------  ------------  -------------- 
 Jason Wolff                  -            -             -             -               - 
------------------  -----------  -----------  ------------  ------------  -------------- 

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

Further information:

   Billing Services Group Limited                                                +1 210 949 7000 

Norm Phipps

finnCap Limited +44 (0)20 7220 0500

Stuart Andrews/Scott Mathieson

   BSG Media Relations                                                              +1 210 326 8992 

Leslie Komet Ausburn

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

About BSG:

BSG has locations in San Antonio, Texas, USA and Aldermaston, United Kingdom, and is traded on the London Stock Exchange (AIM: BILL). For more information on BSG, visit

This information is provided by RNS

The company news service from the London Stock Exchange



(END) Dow Jones Newswires

December 15, 2017 02:00 ET (07:00 GMT)

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