Boomerang Plus PLC Update on Offer (7004I)
July 27 2012 - 7:36AM
UK Regulatory
TIDMBOOM
RNS Number : 7004I
Boomerang Plus PLC
27 July 2012
Boomerang Plus plc
("Boomerang")
Update on Offer
Cancellation of trading on AIM
Resignation of Directors
Update on Offer
The Board notes the announcement made earlier today by Boom
Pictures Limited ("Boom Pictures Limited"), that the offer by Boom
Pictures for the entire issued and to be issued share capital of
Boomerang (the "Offer"), has been declared unconditional as to
acceptances.
Boom Pictures further announced that as at 5.30 p.m. on 26 July
2012, Boom Pictures had received valid acceptances from Boomerang
shareholders in respect of a total of 6,434,730 Offer Shares,
representing approximately 97.3 per cent. of the total Offer
Shares.
The Board notes that all of the conditions to the Offer as set
out in the offer document dated 4 July 2012 have now been satisfied
or waived and, accordingly, the Offer has been declared
unconditional in all respects.
Boom Pictures also stated its intention to exercise its rights
pursuant to sections 974 to 991 of the Companies Act 2006 to
acquire compulsorily the remaining Offer Shares in respect of which
the Offer has not been accepted following the Offer becoming or
being declared unconditional in all respects.
Cancellation of Admission to Trading on AIM
In relation to the above, and at the request of Boom Pictures,
Boomerang is applying to the London Stock Exchange for the
cancellation of admission to trading of Boomerang Shares on AIM
("Cancellation").
Cancellation of the AIM quote is expected to be effective from
7.00am on 28 August 2012.
Cancellation will significantly reduce the liquidity and
marketability of any Boomerang shares that have not been accepted
to the Offer. Following the Cancellation, there will be no future
market for a Boomerang shareholder to realise their investment in
Boomerang. Shareholders are still able to buy and sell Boomerang
shares prior to the Cancellation.
Resignation of Directors
Boomerang also announces the resignation of Richard Huntingford,
Roger Moore and Linda James from the Board of Directors, effective
as from 26 July 2012.
The Board of Boomerang would like to thank them for their
considerable contribution to the development of Boomerang.
Words and expressions defined in the Offer Document shall,
unless the context provides otherwise, have the same meanings in
this announcement.
Enquiries:
Boomerang Tel: +44 (0) 2920 671
Huw Eurig Davies, Chief Executive Officer 500
Mark Fenwick, Finance Director
finnCap Ltd (financial adviser to Boomerang) Tel: +44 (0) 20 7220
Geoff Nash 0500
Charlotte Stranner
This information is provided by RNS
The company news service from the London Stock Exchange
END
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