Hanafin Investments Limited Offer Talks Terminated (6417Z)
September 21 2015 - 5:15AM
UK Regulatory
TIDMGNG
RNS Number : 6417Z
Hanafin Investments Limited
21 September 2015
No intention to bid statement under Rule 2.8 of the Code
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 THAT
JURISDICTION
21st September, 2015
STATEMENT REGARDING GEONG INTERNATIONAL LIMITED ("GEONG")
This is an announcement falling under Rule 2.8 of the City Code
on Takeovers and Mergers (the "Code").
On 24 August 2015, GEONG announced that it was in preliminary
discussions with Hanafin Limited (the correct full corporate name
of which was Hanafin Investments Limited) ("Hanafin") regarding a
possible offer for GEONG by Hanafin.
Hanafin announces that, following the announcement by GEONG on
14 September 2015 regarding the directors' belief that an
unquantified but significant provision against the carrying value
of the accrued income and trade debtors will be required, those
discussions have not been concluded such that Hanafin is able to
make an offer for GEONG at this time or to elect for the
GBP1,000,000 convertible unsecured loan stock ("CULS"), which it is
holding, to be converted. As a result of this announcement, Hanafin
is bound by the restrictions provided by Rule 2.8 of the Code for a
period of 6 months following the date of this announcement. Hanafin
reserves the right to set aside this statement within 6 months of
the date of this announcement in the circumstances set out in Note
2 to Rule 2.8 of the Code.
Notwithstanding the termination of discussions regarding a
possible offer, Hanafin remains supportive of GEONG and its
management and is in discussions with the board of GEONG regarding
the terms of the CULS and, in particular, the possibility of
extending the redemption date of the CULS, which, in accordance
with its terms, is due for redemption, if not previously converted,
by 30 September 2015.
A copy of this announcement will be made available on GEONG's
website at http://www.geong.com.
As a consequence of this announcement, the "Offer Period" that
commenced on 24 August 2015 in respect of GEONG in accordance with
the rules of the Code has now ended.
Enquiries:
Tim Worlledge
Evolution Securities China Limited
+ 44 (0) 203 362 8882
This information is provided by RNS
The company news service from the London Stock Exchange
END
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