O Twelve Estates Limited Cancellation of Trading on AIM (3586G)
June 28 2012 - 6:09AM
UK Regulatory
TIDMOTE
RNS Number : 3586G
O Twelve Estates Limited
28 June 2012
O Twelve Estates Limited ("O Twelve" or the "Company")
Cancellation of trading on AIM
28 June 2012
O Twelve notes the announcement made by VIII Investment UK S.a.
r.l. ("VIII Investment") at 5.07 p.m. on 27 June 2012 regarding a
recommended unconditional cash offer for O Twelve ("Offer") and the
subsequent intention by VIII Investment to de-list O Twelve's
ordinary shares ("O Twelve Shares") from trading on AIM.
O Twelve Shareholders should note that there is no requirement
to hold a general meeting of O Twelve to approve the proposed
cancellation of trading in O Twelve Shares on AIM, the Offer is
unconditional and, as such, there is no acceptance condition to the
Offer.
In accordance with Rule 41 of the AIM Rules, O Twelve has
notified the London Stock Exchange of the proposed cancellation. O
Twelve today announces that its admission to trading on AIM will be
cancelled with effect from 7.00 a.m. on 27 July 2012 (the
"Cancellation") being no earlier than 20 business days following
this notification.
In addition, O Twelve announces that the offer document will be
posted today to shareholders of O Twelve and will be uploaded
shortly to the Company's website www.otwelveestates.com/irhome.
O Twelve Shareholders should also note that any transaction in O
Twelve Shares undertaken after the cancellation of trading in O
Twelve Shares on AIM will only be capable of being undertaken by
private sale. Once O Twelve's admission to trading on AIM has been
cancelled, there is no intention to provide a facility to enable
the O Twelve Shares to be traded on any public share trading
platform or to list the O Twelve Shares on an alternative stock
exchange. The de-listing and cancellation of trading of O Twelve
Shares will significantly reduce the liquidity and marketability of
any O Twelve Shares not acquired by VIII Investment. Accordingly, O
Twelve Shareholders who do not accept the Offer are likely to be
minority shareholders in a company whose shares will not be listed
on AIM or any other market and will thus have significantly reduced
liquidity and marketability. The Independent Directors urge O
Twelve Shareholders to accept the Offer.
Unless otherwise stated, all capitalised definitions in this
announcement bear the same meaning as those in the offer document
published by VIII Investment on 28 June 2012
For further information, please contact:
Phil Rhodes, Chairman
O Twelve Estates Limited
Tel: +44 (0)20 7016 0050
Simon Bennett / Katy Birkin
Fairfax I.S. PLC
Tel: +44 (0)20 7598 5368
Dido Laurimore / Stephanie Highett / Will Henderson
FTI Consulting
Tel: +44 (0)20 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
END
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