Statement re potential transaction
January 05 2010 - 8:30AM
UK Regulatory
TIDMPCX
RNS Number : 0551F
Principle Capital Holdings S.A.
05 January 2010
Principle Capital Holdings S.A.
("Principle Capital," or the "Company")
Principle Capital in talks regarding potential transaction
Following the recent movement in its share price, Principle Capital announces
that it is in talks and has signed non-binding heads of terms with a third party
regarding a potential transaction (the "Transaction"). The discussions remain
subject to the fulfilment of a number of conditions, including due diligence and
there is no certainty that a deal will be concluded.
The key terms of the Transaction include:
* an injection of capital at a share price based on recent average market levels,
which have been below the current share price
* a proposal to cancel the Company's admission to trading on AIM
* a mechanism for all shareholders to exit at the same price as the injection of
capital.
These proposals are subject to contract and shareholder approval, including any
proposal to cancel the admission to trading on AIM. The Board will update
shareholders in due course.
- Ends -
Enquiries
+---------------------------------------+---------------------------------------+
| Principle Capital Holdings | +44 20 7240 3222 |
| Jonathan Sieff | |
| Mark Whitfeld | |
| | |
+---------------------------------------+---------------------------------------+
| Bell Pottinger Corporate & Financial | +44 20 7861 3232 |
| Olly Scott | |
| | |
+---------------------------------------+---------------------------------------+
| Singer Capital Markets | +44 20 3205 7500 |
| Jeff Keating | |
| | |
+---------------------------------------+---------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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