ISG PLC Notice of Cancellation of Listing (2045Q)

TIDMISG

RNS Number : 2045Q

ISG PLC

25 February 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

25 February 2016

ISG Plc ("ISG")

Notice of Cancellation of Listing

Cathexis UK Holdings Limited ("Cathexis") has confirmed that it and its concert parties now own or have received valid acceptances of its offer for the entire issued and to be issued capital of ISG (the "Offer") in respect of a total of 37,198,862 ISG shares, representing an aggregate of 75.17 per cent. of the current issued share capital of ISG. The Company has, at the request of Cathexis, applied to the London Stock Exchange for the cancellation of trading in the ISG ordinary shares on AIM ("Cancellation").

It is expected that the last day of dealings in ISG shares will be 24 March 2016 and that Cancellation will take effect at 7am on 29 March 2016. After this time, ISG shares will no longer be admitted to trading on AIM. As a consequence, the Company will not be publishing its interim results on 8 March 2016, as had been previously notified.

Cancellation will significantly reduce the liquidity and marketability of any ISG ordinary shares not acquired by Cathexis and the Board of ISG therefore recommends to ISG shareholders that they either:

   --    accept the Offer as soon as possible; or 

-- sell their ISG shares in the market to Cathexis Stocks, LP, a concert party of Cathexis, as soon as possible and, in any event, so that the trade is effected no later than 24 March 2016. Cathexis Stocks, LP has appointed Bank of America Merrill Lynch to act on its behalf for this purpose.

Enquiries:

ISG plc

 
David Lawther, Chief Executive Officer     020 7392 5250 
Jonathan Houlton, Group Finance Director 
 Jared Cranney, Company Secretary 
 

Numis

 
Michael Meade                     020 7260 1000 
Stuart Ord 
Ben Stoop 
 
  Instinctif 
Matthew Smallwood, Helen Tarbet   020 7457 2020 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 25, 2016 10:45 ET (15:45 GMT)