Ultimate Finance Group PLC Proposed conditional cancellation of AIM listing (9831K)

TIDMUFG

RNS Number : 9831K

Ultimate Finance Group PLC

06 August 2013

Ultimate Finance Group plc

Proposed Cancellation of AIM Listing

Ultimate Finance Group plc (or "the Company") confirms that, conditional on completion of the recommended offer for the entire issued share capital of the Company by Renovo Group plc (the "Offer"), the Company has applied to AIM for the cancellation of the trading facility on AIM.

The Offer is being implemented by way of a Companies Act Scheme of Arrangement ("the Scheme") which is contained in a circular to shareholders of the Company dated 30 July 213 ("the Scheme Document") and is dependent, inter alia, on the sanction of the Scheme by the Court following the requisite approval of the Scheme at the Court Meeting (as defined in the Scheme Document) and the passing at a general meeting of the Company of the necessary special resolution to implement the Scheme, both of which meetings are to be held on 20 August 2103. The London Stock Exchange has agreed that, conditional on the Scheme being so approved by shareholders, the cancellation of the trading facility will not require the separate approval of shareholders.

Conditional on the sanction of the Scheme by the Court and the satisfaction of the other conditions of the Scheme, it is expected that the trading facility will be suspended with effect from 07.30 on 09 September 2013 and cancelled by 08.00 on 10 September 2013.

This announcement is being made in accordance with the requirements of Rule 41 AIM Rules.

 
 Contacts: 
 
 Ed Jeremy Coombes, Chief Executive Officer         +44 (0) 7967 613208 
 Shane Horsell, Finance Director                    +44 (0) 7811 330828 
 
 WH Ireland Limited (Nominated Adviser and         www.wh-ireland.co.uk 
  Broker) 
 John Wakefield (Corporate Finance)                +44 (0) 117 945 3470 
 
 Threadneedle Communications (Financial        www.threadneedlepr.co.uk 
  PR) 
 John Coles / Fiona Conroy                         +44 (0) 207 653 9850

About Ultimate Finance Group plc

Ultimate Finance Group is a leading provider of financial solutions to SMEs across the UK. The Company is headquartered in Bristol with offices in London, Manchester, Norwich and Lutterworth. Through its five subsidiaries (Ultimate Invoice Finance, Ultimate Asset Finance, Ultimate Trade Finance, Ashley Commercial Finance and Ashley Business Cash), Ultimate supports SMEs by funding their growth with a range of products and services tailored to each client. In the current climate where bank lending to SMEs is increasingly restricted the benefits of Ultimate Finance's flexible and efficient solutions become even more compelling.

This information is provided by RNS

The company news service from the London Stock Exchange

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