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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gne Grp | LSE:GNE | London | Ordinary Share | GB0031791899 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 175.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGNE RNS Number : 3951Q GNE Group PLC 08 April 2009 GNE Group plc ('GNE or 'the Company') Notification of delisting Consolidation of Ordinary Shares Annual Report and Accounts GNE Group plc (AIM:GNE) announces that the Group's 2008 Annual Report and Accounts, including the Notice of Annual General Meeting has been posted to shareholders and is available on the Group's website: www.gnegroup.co.uk. The Group also gives notice hereby that its Annual General Meeting will be held at the offices of Seymour Pierce Limited on 1 May 2009 at 11 a.m. Delisting At the Annual General Meeting a resolution requiring the consent of 75 per cent. of the votes cast will be put to shareholders for the cancellation of admission to trading on AIM of the ordinary shares of the Company. The Company wishes to notify that the notice period of not less than 20 business days prior to cancellation referred to in Rule 41 of the AIM Rules has commenced today. It is anticipated that, conditional upon shareholders passing the resolution to cancel admission to trading on AIM of the ordinary shares of the Company, cancellation of admission to trading will take effect at 7.00am on 12 May 2009. Accordingly, if approved, 11 May 2009 will be the last day of trading on AIM of the New Ordinary Shares. Following the cancellation the ordinary shares of the Company will not be traded on any public market. Share Consolidation The Notice of Annual General Meeting proposes a resolution to consolidate each 1,000 issued ordinary shares of 25p in the capital of the Company into 1 ordinary share of GBP250, ("New Ordinary Share") to carry the rights and subject to the restrictions set out in the articles of association of the Company. No shareholder shall be entitled to a fraction of a share and all fractional entitlements resulting from the consolidation shall be aggregated into whole shares and shall be sold on behalf of the shareholders by the Company's brokers and the net proceeds of sale shall be distributed in due proportion, rounded down to the nearest whole penny, amongst such shareholders who would otherwise be entitled to fractional entitlements save to the extent where the entitlement would be valued at less than GBP5.Norcliffe Investments Limited has given an undertaking to the Company's brokers to seek to acquire, or procure that the Company will seek to acquire, each New Ordinary Share resulting from the consolidation of the fractional entitlements and sold in the market at a price of GBP1,900. If the resolution is passed and not withdrawn the following timetable will apply in respect of the share consolidation: +----------------------------------------------------------------+--------------+ | Last day of trading for 25p ordinary shares | 1 May 2009 | +----------------------------------------------------------------+--------------+ | Annual General Meeting | 1 May 2009 | +----------------------------------------------------------------+--------------+ | Record Date for the consolidation | 1 May 2009 | +----------------------------------------------------------------+--------------+ | Admission effective and dealings commence in New Ordinary | 5 May 2009 | | Shares | | +----------------------------------------------------------------+--------------+ | Expected date of delivery of New Ordinary Shares into CREST | 5 May 2009 | | accounts | | +----------------------------------------------------------------+--------------+ | Expected date of dispatch of share certificates in respect of | 15 May 2009 | | New Ordinary Shares to be held in certificated form | | +----------------------------------------------------------------+--------------+ | Expected date of dispatch of net proceeds of sale of | 22 May 2009* | | fractional entitlements amongst shareholders who would | | | otherwise be entitled to fractional entitlements | | +----------------------------------------------------------------+--------------+ * this is anticipated to be no more than 14 days following the sale of fractional entitlements. Should the current offer for the shares in the Company remain open on 1 May 2009 the Board will propose to the meeting to withdraw the resolution proposing the consolidation and Norcliffe Investments Limited has agreed that it will vote in favour of withdrawing the resolution. The above timetable only applies if the share consolidation resolution is passed. - Ends - For further information: +------------------------------------------+----------------------------+ | GNE Group plc | | +------------------------------------------+----------------------------+ | David Port, Non-Executive Chairman | Tel: +44 (0) 20 7398 7712 | +------------------------------------------+----------------------------+ | | | +------------------------------------------+----------------------------+ +------------------------------------------+----------------------------+ | Seymour Pierce | | +------------------------------------------+----------------------------+ | Richard Feigen / Sarah Jacobs | Tel: +44 (0) 20 7107 8000 | +------------------------------------------+----------------------------+ | | www.seymourpierce.com | +------------------------------------------+----------------------------+ Media enquiries: +------------------------------------------+----------------------------+ | Abchurch | | +------------------------------------------+----------------------------+ | Henry Harrison-Topham / Monique Tsang | Tel: +44 (0) 20 7398 7712 | +------------------------------------------+----------------------------+ | monique.tsang@abchurch-group.com | www.abchurch-group.com | +------------------------------------------+----------------------------+ This information is provided by RNS The company news service from the London Stock Exchange END MSCUUUQACUPBGQR
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