Banner Chemicals PLC - Complusory Acqn of Shares,etc
24 9월 1999 - 6:26PM
UK Regulatory
RNS No 9897p
BANNER CHEMICALS PLC
24 September 1999
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN
PETROFERM UK LIMITED ("PETROFERM UK")
a wholly owned subsidiary of PETROFERM INC. ("PETROFERM")
RECOMMENDED CASH OFFER
FOR
BANNER CHEMICALS PLC ("BANNER")
COMPULSORY ACQUISITION OF BANNER SHARES AND
DE-LISTING FROM THE LONDON STOCK EXCHANGE
Petroferm UK announces that, as at 3.00 pm on 23 September 1999, Petroferm or
Petroferm UK owned or had received valid acceptances in respect of an
aggregate 68,507,925 Banner Shares, representing approximately 90.87 per cent.
of the issued share capital of Banner. Therefore, Petroferm UK has today sent
to those Banner Shareholders who have not yet validly accepted the Offer
compulsory acquisition notices in accordance with Sections 428 to 430F
(inclusive) of the Companies Act 1985.
The Offer will remain open for acceptance until Friday 8 October 1999 and will
then close.
Geoffrey R Cross and Michael E Hayes have today been appointed directors of
Banner. John Dewhurst and Terence Smith, non-executive directors of Banner,
have agreed to resign from the Board with immediate effect.
In accordance with the Rules of the London Stock Exchange, Petroferm UK
announces that the listing of Banner shares will be cancelled twenty business
days from the date of this announcement, being Friday 22 October 1999.
Enquiries:
Petroferm UK Michael E Hayes 001 904 277 5241
Geoffrey R Cross
IDJ Limited John Incledon 0171 499 0355
Charles Sebag-Montefiore
Banner Chemicals Alan Howarth 01928 597000
Tim McInnes
Binns & Co. John Wade 0171 786 9600
Peter Binns
The definitions set out in the offer document dated 15 July 1999 apply in this
announcement. The Offer is not being made, directly or indirectly, in or into
the United States, Canada, Australia or Japan. Accordingly, copies of this
announcement are not being, and must not be, mailed or otherwise distributed
or sent in or into the United States, Canada, Australia or Japan.
The Petroferm Directors accept responsibility for the information contained in
this announcement, and to the best of their knowledge and belief (having taken
all reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and does not
omit anything likely to affect the import of such information.
IDJ Limited, which is regulated in the UK by The Securities and Futures
Authority Limited, is acting exclusively for Petroferm and Petroferm UK and no
one else in connection with the Offer and will not be responsible to anyone
other than Petroferm and Petroferm UK for providing the protections afforded
to customers of IDJ, or for giving advice in relation to the Offer.
END
OFFNFNNLAFANEEN
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