CLS Holdings PLC Tender Offer (4613H)
March 13 2015 - 1:50PM
UK Regulatory
TIDMCLI
RNS Number : 4613H
CLS Holdings PLC
13 March 2015
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 80 Ordinary Shares of 25p
each
in the Company ("Ordinary Shares") at 1950 pence per share
by way of a tender offer (the "Tender Offer")
On 4 March 2015, the Board of CLS announced in its audited
results for the year ended 31 December 2014 its intention to
purchase 1 in every 80 Ordinary Shares by way of a tender offer at
1950 pence per share.
Today CLS has posted a circular to shareholders in relation to
the Tender Offer on the terms set out above. If the maximum number
of 536,738 Ordinary Shares is acquired under the Tender Offer, this
will result in approximately GBP10.5 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 14 April 2015, who may participate
by tendering all or a proportion of their holdings of Ordinary
Shares at the above price. 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 and Tender Form have been
submitted to the UK Listing Authority's National Storage Mechanism
and will shortly be available at
www.hemscott.com/nsm.do.
The Tender Offer circular will shortly be available on the CLS
website at www.clsholdings.com, in the Investor Relations section
under Shareholder Documents. Copies of the documents may also be
obtained from the Company Secretary.
Enquiries:
David Fuller
Company Secretary
CLS Holdings plc
+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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