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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pme African Infrastructure Opportunities Plc | LSE:PMEA | London | Ordinary Share | IM00B1WSL611 | ORD USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.03 | 0.01 | 0.05 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPMEA
RNS Number : 9990P
PME African Infrastructure Opps PLC
06 September 2017
6 September 2017
PME African Infrastructure Opportunities plc
("PME" or the "Company")
(AIM: PMEA.L)
Result of EGM
PME African Infrastructure Opportunities plc announces that the Resolution put to Shareholders at the Extraordinary General Meeting of the Company held today was duly approved.
With Shareholders having approved the renewal of the authority for the Company to return capital to Shareholders via Tender Offers, the Current Tender Offer, which will return up to US$3.4 million to Shareholders through the purchase by the Company of up to 16,389,294 existing Ordinary Shares from Eligible Shareholders at a price of US$0.21 per Ordinary Share, will now proceed.
The Current Tender Offer is made only to Eligible Shareholders on the Register on the Record Date and only in respect of up to 16,389,294 Ordinary Shares, representing 40.0 per cent. of the Ordinary Shares in issue at the Record Time.
Eligible Shareholders are entitled to have accepted in the Current Tender Offer valid tenders of up to a maximum of 40.0 per cent. of their holding of Ordinary Shares at the Record Time at the Tender Price, subject to the terms and conditions of the Current Tender Offer.
This represents 2 Ordinary Shares for every 5 Ordinary Shares held by the Eligible Shareholder at the Record Time.
In addition, Eligible Shareholders may tender Ordinary Shares in excess of their Basic Entitlement. Such Excess Applications will be satisfied (subject to scaling back as described in the Tender Offer Document) to the extent that other Eligible Shareholder do not tender the full amount of their Basic Entitlements and to the extent that there are Overseas Shareholders in Restricted Territories who cannot participate in the Current Tender Offer.
Further details of the Current Tender Offer, including its terms and conditions, are set out in the Circular and accompanying Tender Form posted to Shareholders on 1 August 2017. The Circular and Tender Form are also available on the Company's website at www.pmeinfrastructure.com.
Ordinary Shares purchased by the Company will be cancelled so that such Ordinary Shares will no longer be in issue but the Company's authorised share capital will remain unchanged.
Expected Timetable of Events
Latest time and date for receipt 1.00 p.m. on 13 of Tender Forms and for settlement September 2017 of TTE instructions in respect of the Current Tender Offer ---------------------------------------- ------------------ Record Time for the Current 5.00 p.m. on 13 Tender Offer September 2017 ---------------------------------------- ------------------ Announcement of results of 15 September 2017 the Current Tender Offer ---------------------------------------- ------------------ CREST accounts credited with 19 September 2017 Current Tender Offer proceeds and holdings of uncertificated Ordinary Shares revised ---------------------------------------- ------------------ Despatch of cheques for Current 19 September 2017 Tender Offer proceeds for certificated Ordinary Shares and any applicable balance certificates ---------------------------------------- ------------------
All defined terms are as set out in the Circular and Tender Form.
For further information please contact:
Smith & Williamson Corporate Finance Limited Azhic Basirov / Ben Jeynes +44 20 7131 4000 Stifel Nicolaus Europe Limited Neil Winward / Tom Yeadon +44 20 7710 7600
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
September 06, 2017 09:53 ET (13:53 GMT)
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