CLI Cls Holdings Plc

 

TIDMCLI 
 
RNS Number : 3541R 
CLS Holdings PLC 
19 August 2010 
 

19 AUGUST 2010 
 
  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, INTO ANY 
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF 
                                SUCH JURISDICTION 
 
                                CLS Holdings plc 
                            ("CLS" or the "Company") 
 
         Proposed purchase of 1 in every 74 Ordinary Shares of 25p each 
           in the Company ("Ordinary Shares") at 625 pence per share 
                by way of a tender offer (the "Tender Offer") and 
                            Notice of General Meeting 
 
 
Today the Board of CLS announced in its Half Yearly Financial Report that the 
Company intends to purchase 1 in every 74 Ordinary Shares by way of a tender 
offer at 625p per share. 
 
CLS has today posted a circular to shareholders in relation to the Tender Offer 
on the terms set out above. If the maximum number of 638,195 Ordinary Shares 
under the Tender Offer is acquired, this will result in approximately GBP4 
million being paid by the Company to participating shareholders. 
 
The Tender Offer is open to all eligible shareholders on the Company's register 
at 5.00pm on 7 September 2010, who may participate by tendering all or a 
proportion of their holdings of Ordinary Shares at the above price. No Ordinary 
Shares will be purchased in relation to the Tender Offer unless the relevant 
resolution to be proposed at the general meeting of the Company to be held on 8 
September 2010 (the 'GM') is passed. The Tender Offer will be void if less than 
0.1 per cent. of the issued ordinary share capital of the Company (excluding 
treasury shares) in aggregate is tendered. The Ordinary Shares purchased under 
the Tender Offer will be cancelled. 
 
Copies of the Tender Offer circular, tender form and form of proxy will be 
submitted to the UK Listing Authority, and will shortly be available for 
inspection at the UK Listing Authority's Document Viewing Facility, which is 
situated at: 
 
Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London E14 5HS 
+44 (0)20 7066 1000 
 
Full details of the Tender Offer are contained in circular which will shortly be 
available on the CLS website along with the form of proxy at 
www.clsholdings.com, in the Investor Relations section under Financial Reports. 
Copies of the documents may also be obtained from the Company Secretary. 
 
Enquiries: 
 
CLS Holdings plc 
David Fuller 
+44 (0)20 7582 7766 
 
Kinmont Limited 
Jonathan Gray 
+44 (0)20 7087 9100 
 
 
Kinmont Limited is advising CLS in relation to the Tender Offer and no one else 
and will not be responsible to anyone other than CLS for providing the 
protections afforded to the customers of Kinmont Limited nor for providing any 
advice in relation to the Tender Offer. 
 
This announcement, which has been issued by the Company and is the sole 
responsibility of the Company, has been approved only for the purposes of 
Section 21 of the Financial Services and Markets Act 2000 of the United Kingdom 
by Kinmont Limited, 5 Clifford Street, London W1S 2LG, a firm which is 
authorised and regulated in the United Kingdom by the Financial Services 
Authority. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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