Pan European Terminals PLC Notice of cancellation (9340J)

TIDMPAN

RNS Number : 9340J

Pan European Terminals PLC

18 June 2014

18 June 2014

Pan European Terminals Plc

(the "Company" or "PAN")

Notice of Cancellation

Further to the announcement today by Belphar Ltd ("Belphar") that it now holds or has received valid acceptances of their offer ("Offer") in respect of a total of 67,310,141 PAN ordinary shares, representing an aggregate of 63.31 per cent. of the issued ordinary share capital of PAN and 90.31 per cent. of the PAN ordinary shares to which the Offer relates, the Company has, at the request of Belphar, applied to the London Stock Exchange for the cancellation of trading in the PAN ordinary shares on AIM ("Cancellation").

It is expected that Cancellation will occur at 7.00 a.m. on 16 July 2014 after which time PAN ordinary shares will no longer be admitted to trading on AIM.

Cancellation will significantly reduce the liquidity and marketability of any PAN ordinary shares not acquired by Belphar and the Board of PAN therefore recommends to PAN shareholders that they accept the offer by PAN.

-ends-

Enquiries:

 
 Pan European Terminals plc                            Tel: [phone] 
  Simon Escott, Chief Executive Officer and Interim     1908 
  Executive Chairman                                    Mob: [phone] 
                                                        095 800 
 Westhouse Securities Ltd - Joint Financial Adviser,   Tel: [phone] 
  Nominated Adviser and Broker to Pan                   6100 
  Richard Johnson 
  Antonio Bossi 
 finnCap Ltd - Joint Financial Adviser to Pan          Tel: [phone] 
  Stuart Andrews                                        0500 
  Christopher Raggett 
 Leander - Financial PR to Pan                         Tel: [phone] 
  Christian Taylor-Wilkinson                            168 157 
 

Notes to Editors:

Pan European Terminals Plc operates hydrocarbon refined product Storage and Transhipment Terminals in Aabenraa (Denmark), Kaliningrad City (Russia) and Baltysk (Russia). It also leases and operates tanks in Rotterdam (Holland). The Group presently has approx. 400,000 Cubic Meters of tank capacity under ownership or management, with approximately 40% of its annual profit now being derived from its non-Russian assets. The Group has been building critical mass in this field for three years and offers its customers flexibility, competitive rates and excellent facilities for storage, transhipment and bunkering services.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCQKFDKDBKDBAD