Bowleven plc Result of Exit Opportunity

RNS Number : 9577D

Bowleven plc

12 September 2024

 

 

 

 

12 September 2024

 

PRIOR TO PUBLICATION, THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT WAS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Bowleven plc

("Bowleven" or the "Company")

 

Result of Exit Opportunity

Cancellation of Admission of the Ordinary Shares to Trading on AIM

and

Matched Bargain Facility Arrangements

 

Result of Exit Opportunity

 

Further to the Company's announcement of 9 August 2024, and subsequent approval by the Shareholders of the Cancellation at the General Meeting on 28 August 2024, Bowleven has been notified that acceptances have been received from Minority Shareholders holding in aggregate 268,357,452 ordinary shares of 0.1 pence each (the "Ordinary Shares") under the Exit Opportunity, which closed for acceptances at 1:00 p.m. on 11 September 2024.

 

Following settlement of the transfers of the Ordinary Shares for which acceptances have been received, which is expected to take place by 25 September 2024, Crown Ocean Capital will be interested in 1,368,345,376 Ordinary Shares, representing 72.6 per cent. of the Company's issued share capital (excluding shares held in treasury).

 

Cancellation timetable

 

The Company confirms that, in line with the timetable included in the circular published by the Company on 9 August 2024 (the "Circular"), following the approval of Shareholders at the General Meeting held on 28 August 2024, the last day of dealings in the Company's Ordinary Shares on AIM is expected be 23 September 2024 and the admission to trading on AIM of the Company's Ordinary Shares is expected to be cancelled at 7.00 a.m. on 24 September 2024.

 

Following Cancellation, the Company will re-register as a private company under the name Bowleven Limited.

 

Matched Bargain Facility Arrangements

 

The Company's Ordinary Shares will be admitted to trading on the JP Jenkins securities matching platform from 24 September 2024.

 

JP Jenkins provides a securities matching venue for unlisted or unquoted assets in companies, enabling shareholders and prospective investors to buy and sell shares on a matched bargain basis. JP Jenkins is a trading name of InfinitX Limited and Appointed Representative of Prosper Capital LLP (FRN453007).

 

Shareholders wishing to trade these securities can do so through their stockbroker. Trades will be conducted at a level that JP Jenkins is able to match a willing seller and a willing buyer. Trades can be conducted, and orders can be accepted, during normal business hours. Shareholders or potential investors can place orders via their existing UK regulated stockbroker. The indicative pricing for the ordinary Shares (ISIN: GB00B04PYL99), as well as the transaction history, will be available on the JP Jenkins website at (https://jpjenkins.com/company/bowleven/) once the Ordinary Shares are admitted to the JP Jenkins platform.

 

Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Circular.

 

ENQUIRIES

 

For further information, please contact:

 

Bowleven plc
Eli Chahin, Chief Executive	+ 44 20 3327 0150
Camarco (Financial PR)
Owen Roberts	+ 44 20 3757 4980
Hugo Liddy
Shore Capital (Nominated Adviser and Broker)
Daniel Bush Rachel Goldstein	+ 44 20 7408 4090

 

 

 

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END

 

 

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