TIDMRTG

RNS Number : 8990Y

ReThink Group (The) PLC

05 December 2014

The ReThink Group plc

("ReThink" or the "Company")

Result of Tender Offer

Further to the Tender Offer announced on 10 November 2014, the directors of the Company are pleased to announce that a total of 31,353,038 Ordinary Shares were tendered under the Tender Offer. As a result, all Qualifying Shareholders who have validly tendered their Ordinary Shares will be accepted in full. Therefore 31,353,038 Ordinary Shares will be purchased by Shore Capital at 5 pence per Ordinary Share under the Tender Offer and subsequently repurchased by the Company and cancelled.

Payment of the consideration due to Qualifying Shareholders whose tender was accepted by Shore Capital is expected to be despatched (by cheque or by a CREST payment, as appropriate) by no later than 16 December 2014. Balance certificates will be despatched in respect of non-tendered Ordinary Shares by no later than 16 December 2014.

Following the implementation of the Tender Offer and the cancellation, the Company will have 85,164,743 Ordinary Shares in issue.

De-Listing

Following the approval of the proposed De-Listing by Shareholders at the General Meeting, application has been made to the London Stock Exchange for the admission to trading on AIM of the Ordinary Shares to be cancelled, and Cancellation is expected to take effect at 7.00 a.m. on 9 December 2014.

Trading of the Ordinary Shares after Cancellation

The Company intends to put in place an electronic off-market dealing facility for the Ordinary Shares which will be administered by Asset Match, a firm authorised and regulated by the Financial Conduct Authority. The facility will allow Shareholders to trade their Ordinary Shares on a matched bargain and arm's length basis via periodic auctions to be held every three months.

The facility operates under its own code of practice which governs the behaviour of participants and the running of the auctions. This code of practice is available to view at www.assetmatch.comand requires that, among other things, the Company:

-- has management information systems and a sound system of internal controls appropriate to its size, so as to provide a reasonable basis for it to make informed decisions about its financial position and prospects;

-- has adopted a code of dealings in relation to the Shares for directors and their connected persons and relevant staff, based on the UK Listing Authority's Model Code on directors' dealings; and

-- provides all shareholder communications and submissions made to Companies House to be made available on the Company's page on the Asset Match website.

It is intended that this facility will be put in place shortly after the date of De-Listing, and will be available for at least one year from the date of Cancellation and reviewed thereafter. Further details will be made available after De-Listing on the Company's website at www.rethinkgroupplc.com and at www.assetmatch.com.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.

All references to time in this announcement are to UK time. Capitalised terms in this announcement (unless otherwise defined) have the same meanings as set out in the Circular.

Enquiries:

For further information please contact:

 
The Rethink Group plc 
Steve Wright, CEO 
 Ben Felton, CFO                 07836 226902 
 
Shore Capital (Nomad & Broker) 
Bidhi Bhoma/Edward Mansfield     0207 408 4090 
 
Newgate Threadneedle (PR) 
John Coles                       020 7653 9850

This information is provided by RNS

The company news service from the London Stock Exchange

END

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