LEAF Leaf Clean Energy Company

 

TIDMLEAF 
 
RNS Number : 9260J 
Leaf Clean Energy Company 
08 April 2010 
 

Leaf Clean Energy Company  ("Leaf Clean Energy" or the "Company") 
08 April 2010 
 
Results of Extraordinary General Meeting and Tender Offer 
 
Leaf Clean Energy Company (the "Company") is pleased to announce that all of the 
resolutions were passed at the extraordinary general meeting of the Company held 
today to approve the reverse auction tender offer (the "Reverse Auction Tender 
Offer") for the Company to acquire ordinary shares in the capital of the Company 
("Ordinary Shares") for an aggregate purchase price of up to US$27million and 
the general buy-back (the "General Buy-Back") of additional Ordinary Shares for 
up to a further US$20m, in each case as set out in a circular to the Company's 
shareholders dated 15 March 2010 (the "Circular"). 
 
Reverse Auction Tender Offer 
 
Under the Reverse Auction Tender Offer, valid tenders were received in respect 
of 43,963,597 Ordinary Shares at the following tender prices: 
 
8,171,834 shares at 65p 
26,537,863 shares at 60p 
3,825,392 shares at 55p 
1,865,059 shares at 50p 
3,563,449 shares at 45p 
 
Tenders of Ordinary Shares will be accepted by the Company in accordance with 
the terms of the Reverse Auction Tender Offer in ascending order of tender 
price, starting with the lowest tender price validly tendered until tenders of 
Ordinary Shares of a maximum aggregate purchase price of US$27million (in pounds 
Sterling at the applicable exchange rate) have been accepted, as follows: 
 
3,563,449 shares at 45p 
1,865,059 shares at 50p 
3,825,392 shares at 55p 
21,794,147 shares at 60p 
0 shares at 65p 
 
As a result, the total number of Ordinary Shares purchased by the Company 
pursuant to the Reverse Auction Tender Offer will be 31,048,047, representing 
17% of the Company's issued share capital as at today's date. The average 
purchase price of Ordinary Shares under the Reverse Auction Tender Offer will be 
57.06p per Ordinary Share.  Following the purchase and cancellation of the 
Ordinary Shares under the Reverse Auction Tender Offer, the Company will have 
151,125,726 Ordinary Shares in issue and the net asset value of the Company 
("NAV") per Ordinary Share will be US$171.7cents, an uplift of 10% to the NAV 
per Ordinary Share of US$156.1 cents as of 31 December 2009, being the latest 
published NAV. 
It is expected that settlement in respect of the tendered Ordinary Shares, by 
despatch of cheques or crediting of payments through CREST, will take place on 
or around 13 April 2010. 
General Buy-Back 
 
Depending upon asset realisations and general market conditions, the Company 
intends to return cash of up to a further US$20million, through the General 
Buy-Back or other distributions. 
 
 
Enquiries: 
 
Leaf Clean Energy Company 
Bran Keogh                                           via Cenkos 
 
Cenkos Securities plc 
Ivonne Cantú/Oli Goad                       0207 397 8900 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 REGSSSFIAFSSEIL 
 

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