Promethean World Plc Closure of Offer and Cancellation of Listing (4537C)

TIDMPRW

RNS Number : 4537C

Promethean World Plc

16 October 2015

Promethean World Plc

('Promethean' or 'the Company')

Closure of Offer and Cancellation of Listing

Promethean World Plc (LSE: PRW) confirms that as announced on 1 October 2015 by NetDragon Websoft Inc., the offer made for the entire issued and to be issued ordinary share capital of Promethean (the 'Offer') by Digital Train Limited, an indirect subsidiary of NetDragon Websoft Inc., closed at 1.00 p.m. (London time) on 15 October 2015 and is no longer capable of acceptance. Promethean shareholders who have not accepted the Offer will have their shares compulsorily acquired but will have to wait for the Companies Act 2006 process to conclude on, or shortly after, 2 November 2015 before receiving their consideration, settlement of which is expected to be made within 14 days of that date.

As at 8.00 a.m. (London time) today, the UK Listing Authority cancelled the listing of Promethean shares on the Official List and the London Stock Exchange cancelled the admission to trading of Promethean shares on the London Stock Exchange's main market for listed securities.

Enquiries

Promethean

   Wendy Baker, Company Secretary                                         + 44 (0) 1254 290749 

Ian Baxter, CFO

   Citigate Dewe Rogerson Consultancy                                     + 44 (0) 207 638 9571 

Anthony Carlisle + 44 (0) 7973 611 888

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

October 16, 2015 03:10 ET (07:10 GMT)