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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
London Asia | LSE:LDC | London | Ordinary Share | GB0008251513 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.85 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
London Asia Capital PLC 02 May 2007 For immediate release: 2 May 2007 London Asia Capital plc Peach Blossom Media withdraws from PLUS Result of Offer for Ordinary Shares London Asia Capital plc ("London Asia") the UK listed (AIM: LDC.L) Asia focused merchant banking group, is pleased to announce that Peach Blossom Media Ltd ("Peach Blossom" or "the Company"), a company for which London Asia acts as corporate advisor, has successfully withdrawn from trading on the UK's PLUS market as part of its proposed listing on Malaysia's MESDAQ Stock market, and that the offer made by London Asia for PBM shares was accepted by just 0.6% of shareholders. Peach Blossom announced on 16 April 2007 that it intends to delist from PLUS and list on Malaysia's MESDAQ Stock Market to attract new funding and finance its business expansion plans, where it believes it will be able to attract greater interest and liquidity than in the UK, where investors are less familiar with its products and strong brand in Asia. Shareholders were given the choice of swapping their ordinary shares in the Jersey incorporated company for ordinary shares in a new Malaysian holding company, on a pro rata basis. Alternatively shareholders could elect to accept London Asia's offer to acquire ordinary shares at 24p per share, the closing offer price of Peach Blossom on 13 April 2007. London Asia confirms that at the close of trading on 30 April 2007, it has agreed to acquire 118,703 ordinary shares in Peach Blossom, representing 0.6% of the entire issued share capital for a total consideration of #28,500. Peach Blossom, which creates, produces and distributes original animation and children's programmes, has now ceased trading on PLUS. The Board of Peach Blossom now intends to deregister the Jersey holding company and proceed with any further corporate restructuring in preparation for an Initial Public Offering ("IPO") on MESDAQ. Simon Littlewood, Chief Executive of London Asia Capital, commented: "We are delighted that virtually all the shareholders elected to retain their holding in the Company rather than sell out in the cash offer, a clear endorsement of the Company's decision to shift its listing from London to Malaysia." "Peach Blossom has made significant progress since listing on PLUS in December 2005, with a number of new contracts signed with leading international groups in the sector and several industry awards won, demonstrating their position in the industry. Their financial results reflect their increasing success, with significant growth in sales and profits since listing." "Their achievements have not been reflected in the share price, with UK investors demonstrating little interest in the company. We are increasingly finding that there is a healthier investor appetite for Asian businesses to raise new finance in their own region, where investors are more familiar with the risks and returns, and the businesses brands and products. Peach Blossom's proposed MESDAQ listing has generated a great deal of interest, and we look forward to a successful listing in the near future." For further information please visit www.londonasia.com or contact: Stephen Lucas John West/ Matt Ridsdale London Asia Capital Tavistock Communications Tel: 020 7355 7928 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange END NRAOKBKBCBKKAPK
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