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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alternative Liq | LSE:ALSL | London | Ordinary Share | GG00B1WTM617 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 42.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMALSL
RNS Number : 3184Q
Alternative Liquidity Solutions Ltd
05 November 2012
For Immediate Release 5 November 2012
Alternative Liquidity Solutions Limited
Update on proposed Placing
Further to the announcement made on 2 November 2012 regarding the outcome of the proposed Placing, the Board of Alternative Liquidity Solutions Limited
(the "Company") met earlier today to review the options for the Company. The Board has concluded that there is no realistic prospect of raising sufficient new share capital by 31 December 2012 to give the Company the required critical mass.
The consequences of this decision are as follows:
1. The Company's existing Ordinary Shares will automatically be converted into Run-Off Shares with effect from 6 November 2012. The Run-Off Shares are not listed; and
2. The Company will make an application for the Company's Ordinary Shares to be delisted from the Official List and their admission to trading on the Main Market of the London Stock Exchange cancelled. It is expected that delisting and cancellation will take effect on or around 3 December 2012.
The return of cash to Run-Off Shareholders will be effected through compulsory redemption of Run-Off Shares on a pro rata basis and it is anticipated that the first redemption of a proportion of the Run-Off Shares will occur by 30 November 2012.
In the case of Run-Off Shares held in uncertificated form (that is, in CREST) redemptions will take effect automatically on each Redemption Date. The existing ISIN (QQ00B7C4YN97) will be disabled and a new ISIN will be applied to the remaining Run-Off Shares that have not been compulsorily redeemed. The Company will announce the new ISIN through a Regulatory Information Service provider. It is expected that the proceeds of the redemption will be paid through CREST within five Business Days of the relevant Redemption Date.
In the case of Run-Off Shares held in certificated form (that is, not in CREST), redemptions will take effect automatically on each Redemption Date. It is expected that the proceeds of redemption will be paid by cheque (at the recipient's risk) within five Business Days of the relevant Redemption Date. Run-Off Shareholders will be paid their redemption proceeds in Sterling.
All Run-Off Shares that are redeemed will be cancelled with effect from the relevant Redemption Date.
Enquiries:
Saltus Partners LLP 020 7499 0200 Jon Macintosh Canaccord Genuity Limited 020 7523 8000 David Yovichic
This information is provided by RNS
The company news service from the London Stock Exchange
END
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