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NOTICE OF CANCELLATION OF ADMISSION TO TRADING

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RNS Number : 2275X
Inspired Capital PLC
27 August 2015
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

 

27 AUGUST 2015

 

RECOMMENDED INCREASED OFFER FOR INSPIRED CAPITAL PLC BY BENTLEY PARK (UK) LIMITED

 

NOTICE OF CANCELLATION OF ADMISSION TO TRADING OF INSPIRED CAPITAL  SHARES ON AIM AND NOTICE OF CLOSURE OF THE RECOMMENDED INCREASED OFFER

 

Further to the announcement made by Bentley Park (UK) Limited ("Bentley") on 28 July 2015 that it had acquired or had received valid acceptances of the Recommended Increased Offer in respect of, in aggregate, 203,947,329 Inspired Capital Shares (representing approximately 93.11 per cent. of the total issued ordinary share capital of Inspired Capital plc ("Inspired Capital")) Inspired Capital has, at the request of Bentley, applied to the London Stock Exchange for the cancellation of trading in Inspired Capital Shares on AIM ("Cancellation").

 

Accordingly, Inspired Capital hereby gives notice that an application has been made to the London Stock Exchange for the cancellation of admission to trading of Inspired Capital Shares on AIM, which, in accordance with AIM Rule 41, is expected to be effective at 7.00 a.m. on 28 September 2015.  In addition, further to the announcement made by Bentley on 13 August 2015 regarding the commencement of the compulsory acquisition process, Bentley will complete the compulsory acquisition of all Inspired Capital Shares that have not been assented to the Recommended Increased Offer, at 11.59pm on 24 September 2015.  Following the completion of the compulsory acquisition, settlement of trades in Inspired Capital Shares through CREST will be disabled with immediate effect.  As a result, trading in Inspired Capital Shares on AIM will be suspended with effect from 7.30 a.m. on 25 September 2015.

 

Cancellation will significantly reduce the liquidity and marketability of any Inspired Capital Shares in respect of which the Recommended Increased Offer has not been accepted.  Following the cancellation becoming effective, it is intended that Inspired Capital be re-registered as a private company under the Companies Act as this will reduce both the costs and complexities of operating Inspired Capital. 

 

Further to the announcement on 13 August 2015 by Bentley, Bentley hereby announces that the Recommended Increased Offer will close at 5 p.m. on 24 September 2015. 

 

Terms used but not defined in this announcement shall have the meaning given to them in the Recommended Increased Offer Document dated 13 July 2015.

 

Enquiries:

Inspired Capital plc
Ron Robson
Neil McMyn
Tel: +44(0) 20 7653 9850 via Newgate

 

Cenkos Securities

Nomad and broker to Inspired Capital

Max Hartley / Harry Pardoe (Corporate Finance)
Tel: +44(0) 20 7397 8900

 

Dickson Minto W.S.
Financial adviser to Bentley

Douglas Armstrong

Duncan Christison
Tel: +44(0) 20 7628 4455

 

Dickson Minto W.S., which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as financial adviser exclusively for Bentley and for no-one else in connection with the matters referred to in this announcement and will not regard any other person as its client in relation to such matters and will not be responsible to anyone other than Bentley for providing the protections afforded to clients of Dickson Minto W.S., nor for providing advice in relation to any matter referred to in this announcement.

This announcement is for information purposes only. It is not intended to and does not constitute, or form part of, an offer or invitation or the solicitation of any offer to sell or purchase any securities or the solicitation of any offer to otherwise acquire, subscribe for, sell or otherwise dispose of any security pursuant to the Recommended Increased Offer or otherwise. The Recommended Increased Offer is being made solely by means of the Recommended Increased Offer Document, the Offer Document and, in respect of Inspired Capital Shares held in certificated form, the revised Form of Acceptance, which contain the full terms and conditions of the Recommended Increased Offer, including details of how the Recommended Increased Offer may be accepted. Any decision in respect of, or other response to, the Recommended Increased Offer should be made only on the basis of the information contained in those documents.

 

This announcement does not constitute a prospectus or prospectus equivalent document.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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