12 September 2024
PRIOR TO PUBLICATION, THE
INFORMATION CONTAINED IN THIS ANNOUNCEMENT
WAS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH
FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
Bowleven
plc
("Bowleven" or the "Company")
Result of Exit
Opportunity
Cancellation of Admission of
the Ordinary Shares to Trading on AIM
and
Matched Bargain Facility
Arrangements
Result of Exit Opportunity
Further to the Company's
announcement of 9 August 2024, and subsequent approval by the
Shareholders of the Cancellation at the General Meeting on 28
August 2024, Bowleven has been notified that acceptances have been
received from Minority Shareholders holding in aggregate
268,357,452 ordinary shares of 0.1 pence each (the "Ordinary Shares") under the Exit
Opportunity, which closed for acceptances at 1:00 p.m. on 11
September 2024.
Following settlement of the
transfers of the Ordinary Shares for which acceptances have been
received, which is expected to take place by 25 September 2024,
Crown Ocean Capital will be interested in 1,368,345,376 Ordinary
Shares, representing 72.6 per cent. of the Company's issued share
capital (excluding shares held in treasury).
Cancellation timetable
The Company confirms that, in line
with the timetable included in the circular published by the
Company on 9 August 2024 (the "Circular"), following the approval of
Shareholders at the General Meeting held on 28 August 2024, the
last day of dealings in the Company's Ordinary Shares on AIM is
expected be 23 September 2024 and the admission to trading on AIM
of the Company's Ordinary Shares is expected to be cancelled at
7.00 a.m. on 24 September 2024.
Following Cancellation, the Company
will re-register as a private company under the name Bowleven
Limited.
Matched Bargain Facility Arrangements
The Company's Ordinary Shares will
be admitted to trading on the JP Jenkins securities matching
platform from 24 September 2024.
JP Jenkins provides a securities
matching venue for unlisted or unquoted assets in companies,
enabling shareholders and prospective investors to buy and sell
shares on a matched bargain basis. JP Jenkins is a trading name of
InfinitX Limited and Appointed Representative of Prosper Capital
LLP (FRN453007).
Shareholders wishing to trade these
securities can do so through their stockbroker. Trades will be
conducted at a level that JP Jenkins is able to match a willing
seller and a willing buyer. Trades can be conducted, and orders can
be accepted, during normal business hours. Shareholders or
potential investors can place orders via their existing UK
regulated stockbroker. The indicative pricing for the ordinary
Shares (ISIN: GB00B04PYL99), as well as the transaction history,
will be available on the JP Jenkins website at
(https://jpjenkins.com/company/bowleven/)
once the Ordinary Shares are admitted to the JP Jenkins
platform.
Capitalised terms used but not
otherwise defined in this announcement have the meanings given to
them in the Circular.
ENQUIRIES
For further information, please
contact:
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Bowleven plc
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Eli Chahin, Chief
Executive
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+ 44 20 3327 0150
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Camarco (Financial PR)
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Owen Roberts
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+ 44 20 3757 4980
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Hugo Liddy
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Shore Capital (Nominated Adviser and Broker)
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Daniel Bush
Rachel Goldstein
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+ 44 20 7408 4090
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