By LSE RNS
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) |
|
||||
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) |
|
||||
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 |
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