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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
GKN | LSE:GKN | London | Ordinary Share | GB0030646508 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 482.40 | 481.00 | 481.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGKN LEI: 213800QNZ22GS95OSW84 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 19 April 2018 GKN plc ("GKN") Directorate Change and Cancellation of Listing The Board of GKN (the "Board") notes the announcement released at 8.06 am on 19 April 2018 (the "Announcement Time") by Melrose Industries PLC ("Melrose") that its offer to acquire the entire issued and to be issued share capital of GKN (the "Offer") has become wholly unconditional. Accordingly, and consistent with its announcement of 29 March 2018, the outgoing Board now recommends that GKN shareholders who have not yet done so accept the Offer. Directorate change GKN announces that the following directors have resigned with effect from the Announcement Time: * Michael Turner * Anne Stevens * Jos Sclater * Phil Swash * Angus Cockburn * Tufan Erginbilgic * Shonaid Jemmett-Page * Richard Parry-Jones GKN further announces that the following persons have been appointed to the Board as executive directors with effect from the Announcement Time for an interim period until such time as the cancellation of the listing of GKN shares on the UKLA's Official List and to trading on the LSE's main market becomes effective: * Christopher Miller * David Roper * Simon Peckham * Geoffrey Martin * Jonathon Crawford * Garry Barnes The newly appointed board wishes to thank each of the departing directors for their commitment to GKN. In accordance with LR 9.6.13R, GKN confirms that Christopher Miller, David Roper, Simon Peckham and Geoffrey Martin each currently serve as a director of Melrose. No further information is required to be disclosed pursuant to LR 9.6.13R. Cancellation of listing GKN notes today's announcement by Melrose stating that its Offer has become wholly unconditional and that it has acquired GKN shares representing over 75% of the voting rights of GKN. GKN wishes to announce that applications will be made to the UK Listing Authority and the London Stock Exchange for the cancellation of listing and trading of the GKN's ordinary shares of 10 pence each. Accordingly, the cancellation notice period has commenced and cancellation is expected to become effective no later than 21 May 2018. Mike Turner, outgoing Chairman of GKN said today: "The Board of GKN thanks shareholders for their support over the course of the bid, but we now strongly advise those who have not yet tendered their shares into the Melrose offer to do so." Enquiries: Montfort Communications: +44 (0) 20 3514 0897 Nick Miles, Charlotte McMullen +44 (0) 7973 130 669 / +44 (0) 7921 881 800 Rothschild (Financial Adviser to Melrose): +44 (0) 20 7280 5000 Ravi Gupta, Yuri Shakhmin, Nathalie Ferretti RBC Europe Limited (Financial Adviser to Melrose): +44 (0) 20 7653 4000 Mark Preston, Chris Squire, Alexander Thomas Investec (Corporate Broker to Melrose): Keith Anderson, Carlton Nelson +44 (0) 20 7597 5970 Person responsible The person responsible for arranging the release of this announcement on behalf of the Company is Kerry Watson, Company Secretary (+44 (0)1527 517715). END
(END) Dow Jones Newswires
April 19, 2018 03:18 ET (07:18 GMT)
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