Transaction in Own Shares & Rule 2.10
January 14 2010 - 11:24AM
UK Regulatory
TIDMLEAF TIDMTRE
RNS Number : 5873F
Leaf Clean Energy Company
14 January 2010
Leaf Clean Energy Company
("Leaf" or the "Company")
Transaction in Own Shares and announcement under Rule 2.10 of the Takeover Code
The Company announces that on 14 January 2010 it purchased for cancellation
380,000 ordinary shares at 67.5 pence per share.
Rule 2.10 Disclosure
Following the above purchase, the Company announces that it has now 182,553,773
ordinary shares of 0.01pence in issue. Leaf's ordinary shares are traded on AIM,
a market of London Stock Exchange plc, with ISIN No KYG541351014.
The above figure 182,553,773 may also 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, Leaf Clean Energy Company
under the FSA's Disclosure and Transparency Rules.
Impact on FAV calculation as at 7 January 2010 included in the Scheme Document
The reduction in the number of shares and cash following the buyback will have
an effect on the estimated FAV ratio of share consideration for Trading
Emissions shareholders as included in the Scheme Document posted on 13 January
2010 which was calculated as at 7 January 2010. If all the other constituent
elements as set out in the appendix to the 2.5 announcement and Scheme Document
remain constant, ie only the number of shares and level of cash have changed,
and this buyback had been conducted before that calculation of FAV ratio of
share consideration then this purchase of shares would have resulted in an
increase in the illustrative FAV of 0.09 pence, from 100.2 pence per Leaf share
to approximately 100.36 pence per Leaf share.
On this basis a Trading Emissions shareholder would have been entitled to 1.4833
Leaf shares for each Trading Emissions share they own compared with the
illustrative 1.4857 ratio announced. The final ratio will be determined at the
Calculation Date as set out in the 2.5 announcement. The Closing Price of a
Leaf Clean Share on 12 January 2010, the day immediately prior to posting the
Scheme Document was 72.5 pence, therefore the implied offer price for each
Trading Emissions Share on 14 January 2010 would be 107.5 pence post the impact
of the buyback compared to the 107.7 pence disclosed in the Scheme Document.
All definitions are the same as those set out in the 2.5 announcement released
on 17 December 2009 and the Scheme Document.
For further enquiries, please contact:
EHM International Limited
Tel: 0871-662-9629
Ivonne Cantu /Liz Bowman
Cenkos Securities plc
Tel: 020 7397 8928
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCMMGMMVDRGGZM
Leaf Clean Energy (LSE:LEAF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Leaf Clean Energy (LSE:LEAF)
Historical Stock Chart
From Jul 2023 to Jul 2024