Result of Court Hearing (5625O)
September 20 2011 - 5:49AM
UK Regulatory
TIDMIEL TIDMIIP
RNS Number : 5625O
Indian Energy Limited
20 September 2011
THIS ANNOUNCEMENT IS 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
20 September 2011
Indian Energy Limited ("IEL" or the "Company")
Offer by Infrastructure India plc for IEL by means of a Scheme
of Arrangement (the "Scheme")
Result of Court Hearing
On 5 September 2011, the Company announced that the resolutions
proposed at the Court Meeting and the EGM in relation to the Scheme
had been passed. IEL is pleased to announce that at the hearing of
the Royal Court of Guernsey held today, the Royal Court of Guernsey
sanctioned the Scheme.
As a result, the Scheme will become effective at 8.00 a.m.
tomorrow, 21 September 2011. Cancellation of trading of IEL Shares
on AIM and admission of the New IIP Shares to trading on AIM are
also expected to take place tomorrow. The CREST accounts of IEL
Shareholders who hold IEL Shares in uncertificated form should be
credited on the Effective Date. Alternatively, certificates will be
dispatched within 14 days following the Effective Date.
Capitalised terms not otherwise defined in this announcement
have the meanings given to them in the Scheme Document.
Enquiries:
Indian Energy Limited Tel: +44 20 3411
3640
Rupert Strachwitz
Arden Partners Plc (Financial adviser, broker Tel: +44 20 7614
and Nomad to IEL) 5917
Chris Hardie / Jamie Cameron
Pelham Bell Pottinger (Public Relations to IEL) Tel: +44 20 7861
3232
Archie Berens
Arden Partners, which is authorised and regulated in the United
Kingdom by the FSA, is acting exclusively for IEL and no one else
in connection with the Proposal and will not be responsible to
anyone other than IEL for providing the protections afforded to
customers of Arden Partners nor for providing advice in relation to
the Proposal, the contents of this announcement, or any transaction
or arrangement referenced in this announcement.
DEALING DISCLOSURE REQUIREMENTS
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of an offeree
company or of any paper offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer
is, or is likely to be, solely in cash) must make an Opening
Position Disclosure following the commencement of the Offer Period
and, if later, following the announcement in which any paper
offeror is first identified.
An Opening Position Disclosure must contain details of the
person's interests and short positions in, and rights to subscribe
for, any relevant securities of each of (i) the offeree company and
(ii) any paper offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) applies must be made by no later than
3.30 p.m. (London time) on the 10th business day following the
commencement of the Offer Period and, if appropriate, by no later
than 3.30 pm (London time) on the 10th business day following the
announcement in which any paper offeror is first identified.
Relevant persons who deal in the relevant securities of the offeree
company or of a paper offeror prior to the deadline for making an
Opening Position Disclosure must instead make a Dealing
Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any paper offeror must make a Dealing
Disclosure if the person deals in any relevant securities of the
offeree company or of any paper offeror. A Dealing Disclosure must
contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
paper offeror, save to the extent that these details have
previously been disclosed under Rule 8. A Dealing Disclosure by a
person to whom Rule 8.3(b) applies must be made by no later than
3.30 p.m. (London time) on the business day following the date of
the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a paper
offeror, they will be deemed to be a single person for the purpose
of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the Offer Period commenced and when any offeror was first
identified. If you are in any doubt as to whether you are required
to make an Opening Position Disclosure or a Dealing Disclosure, you
should contact the Panel's Market Surveillance Unit on +44 (0)20
7638 0129.
PUBLICATION ON WEBSITE
A copy of this announcement will be made available on IEL's
website at www.indian-energy.com as soon as possible.
For the avoidance of doubt, the content of the websites referred
to above is not incorporated into and does not form part of this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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