Share Name | Share Symbol | Market | Type |
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Galmed Pharmaceuticals Ltd | TG:GPH | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
RNS Number:0028L GPG (UK) Holdings PLC 12 May 2003 NOT FOR RELEASE IN OR DISTRIBUTION INTO THE UNITED STATES, CANADA, THE REPUBLIC OF IRELAND OR JAPAN. 12 May 2003 Buyback offer for up to approximately 62.5 million Ordinary Shares of Guinness Peat Group plc ("GPG") to be satisfied by the issue by GPG (UK) Holdings plc ("GPGUK") of up to 156.25 million listed 8 per cent. Convertible Subordinated Unsecured Loan Notes of 20 pence each due 2005 ("CLNs") (the "Buyback Offer"). GPG and GPGUK announce that they are today posting to Qualifying Shareholders a mini-prospectus in connection with the Buyback Offer. The mini-prospectus gives further particulars of the offer to repurchase up to 10 per cent. of GPG's Ordinary Shares in aggregate on the basis that Tendering Shareholders whose tenders are accepted (and who, subject to the aggregate maximum of 10 per cent., will be entitled to tender up to 25 per cent. of their holding of Ordinary Shares) would receive five CLNs, to be issued by GPGUK, for every two Ordinary Shares repurchased. Based on the assumptions set out in the mini-prospectus, the consideration under the Buyback Offer represents a premium of approximately 8.5 per cent. to the closing sale price of an Ordinary Share of NZ$1.50 on the New Zealand Stock Exchange on 8 May 2003, adjusted for the proposed Capitalisation Issue. In addition to the increase in capital value the mini-prospectus also shows that, on those assumptions, acceptance of the Buyback Offer would result in an increase in gross income of 300 per cent. Shareholders should note however that the above premium may fall or rise prior to 7 July 2003, the date on which the Buyback Offer is expected to become effective, depending on the way in which the market prices of the Ordinary Shares and the existing CLNs move during that period. Copies of the full prospectus are obtainable until 30 May 2003 on request, free of charge, from the addresses set out below: United Kingdom: Financial Services Authority Herbert Smith 25, The North Colonnade Exchange House Canary Wharf Primrose Street London E14 5HS London EC2A 2HS Computershare Investor Services Plc Guinness Peat Group plc 7th Floor, Jupiter House First Floor Triton Court Times Place 14 Finsbury Square 45 Pall Mall London London EC2A 1BR SW1Y 5GP New Zealand: Computershare Registry Services Plc Simpson Grierson Level 2 HSBC Tower 159 Hurstmere Road 195 Lambton Quay Takapuna PO Box 2402 North Shore City Wellington Auckland New Zealand New Zealand Australia: Registries Limited Baker & McKenzie PO Box R67 AMP Centre Royal Exchange 50 Bridge Street Sydney NSW 1223 Sydney NSW 1223 Australia Australia Copies of both the mini-prospectus and the full prospectus have been submitted to the UK Listing Authority and are now available for inspection at the UK Listing Authority's Document Viewing Facility in addition to the above locations. The documents will also appear on the Australian Stock Exchange website at www.asx.com.au. If shareholders are in any doubt as to the action they should take, they are recommended to seek their own personal financial advice from a stockbroker, bank manager, solicitor, accountant or other financial adviser (who, in the United Kingdom, should be authorised under the Financial Services and Markets Act 2000). Unless the context requires otherwise, terms defined in this announcement have the meanings ascribed to them in the full prospectus. Richard Russell Company Secretary Telephone No. +44 (0)20 7484 3370 This announcement does not constitute an offer or an invitation to purchase or subscribe for or dispose of any securities. Shareholders should also be aware that past performance cannot be relied on as a guide to future performance. ENDS This information is provided by RNS The company news service from the London Stock Exchange END DOCNKBKQFBKDOPD
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