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Replacement - Result of Tender Offer

By LSE RNS

RNS Number : 0377O
Qannas Investments Limited
15 August 2017
 

This announcement is a replacement for one released on 09 August 2017 at 07:00am under the RNS number 4584N. The items that have changed are Mustafa Kheriba's Number of Shares prior to the Tender Offer being 531,278, and Mustafa Kheriba's Number of Ordinary Shares following the Tender Offer being 461,153, as opposed to "531,728" and "461,603", as previously stated.

 

All other details remain unchanged.

 

The full amended text is shown below.

 

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

 

QANNAS INVESTMENTS LIMITED

Result of Tender Offer and

Directors' Shareholdings

 

Qannas Investments Limited (the "Company" or "QIL"), the closed-ended investment company listed on the AIM market (AIM:QIL), posted to shareholders on 21 July 2017 a circular ("Circular") in respect of a tender offer to purchase up to 8,888,889 Ordinary Shares at a tender price of US$0.90 per Ordinary Share, up to an aggregate value of approximately US$8.00 million.

Result of Tender Offer

The Company can confirm that a total of 8,888,889 Ordinary Shares have been tendered in connection with the Tender Offer. Tenders for up to 12.9 per cent. of Shareholders' Ordinary Shares and Depositary Interests registered in their name at the Record Time (rounded down to the nearest whole Ordinary Share) will be met in full. Tenders received for surplus Ordinary Shares will be accepted in proportion to the number of additional Ordinary Shares tendered so that the total number of Ordinary Shares purchased pursuant to the Tender Offer does not exceed 8,888,889.

The Ordinary Shares purchased by the Company pursuant to the Tender Offer will be held in treasury. CREST accounts will be credited for revised holdings of Ordinary Shares on 10 August 2017, payment through CREST will be made for uncertificated Ordinary Shares purchased pursuant to the Tender Offer by 18 August 2017 and cheques and balancing share certificates will be despatched for certificated Ordinary Shares purchased pursuant to the Tender Offer by 18 August 2017. 

 

Directors' Interests

 

Certain of the directors of the Company, have tendered Ordinary Shares under the Tender Offer, their participation is set out below:

 


Number of Ordinary Shares prior to the Tender Offer

Percentage of Total Voting Rights prior to the Tender Offer

Number of Ordinary Shares tendered

Number of Ordinary Shares following the Tender Offer

Percentage of Total Voting Rights following the Tender Offer

 

Abu Dhabi Financial Group LLC*

12,997,237

18.88%

1,714,112

11,283,125

18.82%

Mustafa Kheriba

531,278

0.77%

70,125

461,153

0.77%

Christopher Ward

100,000

0.15%

-

100,000

0.17%

Richard Green

100,000

0.15%

-

100,000

0.17%

Richard Prosser

-

-

-

-

-

*the parent company of ADCM Ltd, being the Company's Investment Manager.

 

Total Voting Rights

With effect from 10 August 2017, the Company's issued share capital will consist of 78,133,409 Ordinary Shares and the Company will hold 18,193,697 Ordinary Shares in treasury.

The total number of voting rights in the Company is therefore 59,939,712. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

Terms used and not defined in this announcement bear the meaning given to them in the Circular.

 

For further information please contact:

 

Qannas Investments Limited                                                                            Tel: 015 3481 8022

Vinod Rajput

 

ADCM Ltd. (Investment Manager)                                                                   Tel: +971 2 639 0099

Mustafa Kheriba

 

finnCap Ltd                                                                                                            Tel: 020 7220 0500

Henrik Persson/James Thompson (Corporate Finance)

 

 


Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mustafa Kheriba

2.           

Reason for the Notification

a)

Position/status

Non-Executive Director

b)

Initial notification/Amendment

Initial

3.  

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Qannas Investments Limited

b)

LEI

21380042SL88EILG1I04

4.  

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary shares of no par value

Identification code

KYG7306P1037

b)

Nature of the transaction

Ordinary Shares Tendered

c)

Price(s) and volume(s)

Price(s)

Volume(s)

$0.90

70,125

d)

Aggregated information:

·      Aggregated volume

·      Price

 

70,125  Ordinary Shares of no par value tendered at $0.90 per shares

e)

Date of the transaction

4 August 2017

f)

Place of the transaction

Outside a trading venue

 


Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Abu Dhabi Financial Group LLP

2.           

Reason for the Notification

a)

Position/status

Parent company of ADCM Ltd, the Investment Manager of QIL

b)

Initial notification/Amendment

Initial

3.  

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Qannas Investments Limited

b)

LEI

21380042SL88EILG1I04

4.  

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary shares of no par value

Identification code

KYG7306P1037

b)

Nature of the transaction

Ordinary Shares Tendered

c)

Price(s) and volume(s)

Price(s)

Volume(s)

$0.90

1,714,112

d)

Aggregated information:

·      Aggregated volume

·      Price

 

1,714,112 Ordinary Shares of no par value tendered at $0.90 per shares

e)

Date of the transaction

4 August 2017

f)

Place of the transaction

Outside a trading venue

 


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