Phaunos Timber Fund Limited Directorate Changes (5181G)
November 06 2018 - 9:06AM
UK Regulatory
TIDMPTF TIDMPTFA
RNS Number : 5181G
Phaunos Timber Fund Limited
06 November 2018
6 November 2018
Phaunos Timber Fund Limited ("Phaunos")
Background
On 3 July 2018, the board of directors of Stafford Bidco, a
company wholly-owned by Stafford International Timberland Fund VIII
and ultimately controlled by Stafford, announced an all-cash offer
for Phaunos by Stafford Bidco, on behalf of Stafford International
Timberland Fund VIII, pursuant to which Stafford Bidco would
acquire the entire issued and to be issued share capital of Phaunos
not already directly or indirectly owned by it or its concert
parties at a price of US$0.49 for each Phaunos Share (the "Original
Offer").
The Original Offer was subsequently increased to US$0.52 per
Phaunos Share on 14 September 2018, (the "Final Offer") and on 18
October 2018, Stafford Bidco announced the Final Offer had become
wholly unconditional.
Phaunos board changes
Phaunos announces changes to the composition of its board of
directors. Richard Boléat, Brendan Hawthorne and Jonathan Bridel
have resigned as directors of Phaunos, in each case with effect
from 6 November 2018.
Manh Duy Van Cao, Ian Burns and Dominic Tayco were appointed as
new directors of Phaunos with effect from 6 November 2018. There is
no information that requires disclosure under paragraphs 9.6.13R(1)
to (6) of the Listing Rules in respect of the new directors of
Phaunos.
Unless otherwise stated, defined terms used but not defined in
this announcement have the meanings set out in the offer document
in respect of the Final Offer posted to Phaunos Shareholders on 14
September 2018 (the "Final Offer Document").
Enquiries:
Stafford and Stafford Bidco +44 (0) 20 7535 4915
Stephen Addicott
Winterflood Investment Trusts +44 (0) 20 3100 0000
Neil Langford
JTC Fund Solutions (Guernsey) Limited (Secretary to Phaunos) +44
(0) 1481 702400
Lancea LLP (Financial Adviser to Stafford and Stafford Bidco)
+44 (0) 20 3301 8000
Peter Thickett
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOAEALFKEEFPFFF
(END) Dow Jones Newswires
November 06, 2018 09:06 ET (14:06 GMT)
Phaunos Timber (LSE:PTF)
Historical Stock Chart
From Nov 2024 to Dec 2024
Phaunos Timber (LSE:PTF)
Historical Stock Chart
From Dec 2023 to Dec 2024