PME African Infrastructure Opps PLC Result of EGM (9990P)
September 06 2017 - 9:53AM
UK Regulatory
TIDMPMEA
RNS Number : 9990P
PME African Infrastructure Opps PLC
06 September 2017
6 September 2017
PME African Infrastructure Opportunities plc
("PME" or the "Company")
(AIM: PMEA.L)
Result of EGM
PME African Infrastructure Opportunities plc announces that the
Resolution put to Shareholders at the Extraordinary General Meeting
of the Company held today was duly approved.
With Shareholders having approved the renewal of the authority
for the Company to return capital to Shareholders via Tender
Offers, the Current Tender Offer, which will return up to US$3.4
million to Shareholders through the purchase by the Company of up
to 16,389,294 existing Ordinary Shares from Eligible Shareholders
at a price of US$0.21 per Ordinary Share, will now proceed.
The Current Tender Offer is made only to Eligible Shareholders
on the Register on the Record Date and only in respect of up to
16,389,294 Ordinary Shares, representing 40.0 per cent. of the
Ordinary Shares in issue at the Record Time.
Eligible Shareholders are entitled to have accepted in the
Current Tender Offer valid tenders of up to a maximum of 40.0 per
cent. of their holding of Ordinary Shares at the Record Time at the
Tender Price, subject to the terms and conditions of the Current
Tender Offer.
This represents 2 Ordinary Shares for every 5 Ordinary Shares
held by the Eligible Shareholder at the Record Time.
In addition, Eligible Shareholders may tender Ordinary Shares in
excess of their Basic Entitlement. Such Excess Applications will be
satisfied (subject to scaling back as described in the Tender Offer
Document) to the extent that other Eligible Shareholder do not
tender the full amount of their Basic Entitlements and to the
extent that there are Overseas Shareholders in Restricted
Territories who cannot participate in the Current Tender Offer.
Further details of the Current Tender Offer, including its terms
and conditions, are set out in the Circular and accompanying Tender
Form posted to Shareholders on 1 August 2017. The Circular and
Tender Form are also available on the Company's website at
www.pmeinfrastructure.com.
Ordinary Shares purchased by the Company will be cancelled so
that such Ordinary Shares will no longer be in issue but the
Company's authorised share capital will remain unchanged.
Expected Timetable of Events
Latest time and date for receipt 1.00 p.m. on 13
of Tender Forms and for settlement September 2017
of TTE instructions in respect
of the Current Tender Offer
---------------------------------------- ------------------
Record Time for the Current 5.00 p.m. on 13
Tender Offer September 2017
---------------------------------------- ------------------
Announcement of results of 15 September 2017
the Current Tender Offer
---------------------------------------- ------------------
CREST accounts credited with 19 September 2017
Current Tender Offer proceeds
and holdings of uncertificated
Ordinary Shares revised
---------------------------------------- ------------------
Despatch of cheques for Current 19 September 2017
Tender Offer proceeds for certificated
Ordinary Shares and any applicable
balance certificates
---------------------------------------- ------------------
All defined terms are as set out in the Circular and Tender
Form.
For further information please contact:
Smith & Williamson Corporate
Finance Limited
Azhic Basirov / Ben Jeynes +44 20 7131 4000
Stifel Nicolaus Europe Limited
Neil Winward / Tom Yeadon +44 20 7710 7600
This information is provided by RNS
The company news service from the London Stock Exchange
END
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