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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Fluormin | LSE:FLOR | London | Ordinary Share | GB00B5PC8898 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFLOR
RNS Number : 0093W
Fluormin PLC
23 January 2012
Fluormin plc
("Fluormin" or the "Company")
FLUORMIN ACQUIRES 97% OWNERSHIP OF SALLIES DEBENTURES PURSUANT TO MANDATORY BID PROCESS
The Company is pleased to announce that, as at the closing date of the unconditional mandatory offer ("the Offer") by the Company to Sallies debenture holders on 20 January 2012, valid acceptances have been received in respect of 56,492,972 Sallies debentures, representing approximately 39.16% of the Sallies debentures. As a result, the Company now holds 139,905,822 Sallies debentures representing 96.99% of the Sallies debentures in issue.
The offer to Sallies debenture holders consisted of either a cash payment of 50 rand cents or 0.064595 Fluormin ordinary shares for every Sallies debenture held. 1,593,892 acceptances were received in respect of the share consideration and 54,899,080 acceptances were received in respect of the cash consideration. Accordingly, and in terms of the Offer, the cash payment to be made by Fluormin to Sallies debenture holders will be R27,449,540 and the total number of Fluormin ordinary shares to be issued to Sallies debenture holders will be 102,950. Application has been made for the 102,950 Fluormin shares to be admitted to trading on AIM and admission is expected to take place in two tranches on 24 January 2012 and 27 January 2012 ("Admission"). Following Admission the total number of Fluormin shares in issue will be 55,865,722.
The Company expects Sallies to be delisted from the JSE Securities Exchange upon application.
Contact Information
Fluormin plc Al Gourley, Joint Chief Executive (44)020-7556-0940, agourley@fluormin.com Officer Mark Bolton, Joint Chief Executive (44)020-7556-0940, mbolton@fluormin.com Officer Westhouse Securities Martin Davison (44)020 7601 6100, martin.davison@westhousesecurities.com Tim Feather (44)020 7601 6100, tim.feather@westhousesecurities.com Tavistock Communications Lydia Eades (44)020 7290 3150, leades@tavistock.co.uk Jos Simson (44)020 7290 3150, jsimson@tavistock.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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