Ambrian PLC Update regarding Liquidation of CGM (0410V)
April 13 2016 - 3:31AM
UK Regulatory
TIDMAMBR
RNS Number : 0410V
Ambrian PLC
13 April 2016
Ambrian plc
Update regarding Liquidation of Consolidated General Minerals
plc
Second Tranche Deferred Convertible Securities
Ambrian plc (the "Company") confirms that the final meeting of
the shareholders of Consolidated General Minerals plc (in
liquidation) ("CGM") held in accordance with section 94 of the
Insolvency Act 1986 (and at which the liquidators of CGM presented
their account of the winding up) was held on 21 March 2016. The
liquidators of CGM subsequently filed their account of the winding
up and return to the Registrar of Companies of the holding of the
CGM shareholders meeting at Companies House on 1 April 2016.
Companies House has therefore confirmed that CGM will be finally
dissolved on 1 July 2016.
On the date on which CGM is finally dissolved, the 9,707,102
Second Tranche Deferred Convertible Securities of GBP0.01 each will
automatically convert into 9,707,102 ordinary shares of GBP0.01
each (the "New Ordinary Shares"). No adjustment of the conversion
rate of each of the Second Tranche Deferred Convertible Securities
into a New Ordinary Share is required.
On the date of such conversion of the Second Tranche Deferred
Convertible Securities into the New Ordinary Shares (the
"Conversion Date"), share certificates for Second Tranche Deferred
Convertible Securities will cease to be valid. Entitlements to New
Ordinary Shares arising on the conversion of Second Tranche
Deferred Convertible Securities will be issued in certificated form
only and share certificates are expected to be despatched to
existing holders of Second Tranche Deferred Convertible Securities
within 7 business days of the Conversion Date. Holders who wish to
subsequently hold their New Ordinary Shares in CREST should follow
the standard procedures for the dematerialisation of
securities.
Application will be made for the New Ordinary Shares to be
admitted to trading on AIM ("Admission") as soon as practicable
following the Conversion Date.
A further announcement will be made by the Company on or around
the Conversion Date confirming that the Second Tranche Deferred
Convertible Securities have been converted into the New Ordinary
Shares and the scheduled date for Admission.
For further information, please contact:
Ambrian plc
+44 (0)20 7634
Roger Clegg, COO 4700
Cenkos Securities plc
+44 (0)131 220
Neil McDonald 9771
+44 (0)131 220
Nick Tulloch 9772
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGRGDSGXBBGLX
(END) Dow Jones Newswires
April 13, 2016 03:31 ET (07:31 GMT)
Ambrian Capital (LSE:AMBR)
Historical Stock Chart
From Apr 2024 to May 2024
Ambrian Capital (LSE:AMBR)
Historical Stock Chart
From May 2023 to May 2024