Datong PLC Cancellation of Admission & Director Changes (7194G)

TIDMDTE

RNS Number : 7194G

Datong PLC

11 June 2013

Datong plc ("Datong" or the "Company")

Cancellation of Admission to Trading on AIM and Director Changes

The Datong Board notes the announcement made earlier today by Seven Technologies Holdings Limited ("Seven Technologies") that as at 1.00 p.m. (London time) on 10 June 2013, Seven Technologies had received valid acceptances under the Offer from Datong Shareholders, in respect of 13,139,239 Datong Shares, which in aggregate represents approximately 94.975 per cent. of the existing issued ordinary share capital of the Company and accordingly, by virtue of such acceptances, Seven Technologies has declared the Offer wholly unconditional in all respects.

At the request of Seven Technologies, an application has been made to the London Stock Exchange plc, to cancel the trading facility in the ordinary shares of the Company on AIM. In accordance with the guidance to Rule 41 of the AIM Rules for Companies, the Company hereby gives notice that the cancellation of the admission to trading on AIM of Datong Shares (the "Cancellation") is expected to be effective from 7.00 a.m. (London time) on 10 July 2013 and that the last day of dealings in Datong Shares will be 9 July 2013.

The Cancellation will significantly reduce the liquidity and marketability of any Datong Shares not asserted to the Offer and their value may be affected in consequence. Seven Technologies also intends to re-register the Company as a private company following the Cancellation.

As set out in the offer document issued by Seven Technologies on 14 May 2013 (the "Offer Document"), the non-executive directors of the Company (namely, Paul Lever, Grant Ashley, Richard Brearley and Brian Smith (the "Non-Executive Directors")) undertook to resign upon the Offer becoming or being declared unconditional in all respects. Following the announcement by Seven Technologies earlier today that the Offer is now wholly unconditional in all respects, the resignation of the Non-Executive Directors is therefore effective immediately. The Datong Board now comprises of Stephen Ayres and Mark Cook.

A copy of this announcement and the Offer Document will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, for inspection on Seven Technologies website at http://www.Seventechnologies.co.uk and Datong's website (http://www.datong.co.uk/investor_relations.htm) by no later than 12.00 p.m. on the business day following the date of this announcement and will remain so during the course of the Offer. For the avoidance of doubt, the content of the websites referred to is not incorporated into and does not form part of this announcement.

Terms used but not defined in this announcement shall have the meaning given to them in the Offer Document.

For further information, please contact:

 
                                +44 (0)113 239 
 Datong plc                      5350 
 Stephen Ayres 
  Finance Director 
 
                                +44 (0)20 7908 
 Cavendish Corporate Finance     6000 
 Joe Stelzer 
  John Farrugia 
 
                                +44 (0)20 7523 
 Canaccord Genuity Limited       8000 
 Simon Bridges 
  Mark Whitmore

Cavendish, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Datong and no one else in connection with the Offer and will not be responsible to anyone other than Datong for providing the protections afforded to customers of Cavendish or for providing advice in relation to the Offer or any other matter referred to herein.

This announcement does not constitute, or form part of, an offer or an invitation to purchase, subscribe for, sell or issue any securities or a solicitation of any offer to purchase, subscribe for, sell or issue any securities pursuant to the Offer or otherwise. The full terms and conditions of the Offer, including details of how the Offer may be accepted, are set out in the Offer Document and, where appropriate, the related Form of Acceptance.

The availability of the Offer in, and the release, publication or distribution of this announcement in or into, jurisdictions other than the United Kingdom may be restricted by law. Therefore persons into whose possession the Offer Document or this announcement comes who are not resident in the United Kingdom should inform themselves about, and observe, any applicable restrictions. Datong Shareholders who are in any doubt regarding such matters should consult an appropriate independent adviser in the relevant jurisdiction without delay. Any failure to comply with such restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement has been prepared for the purposes of complying with English law and the Code and the information disclosed may not be the same as that which would have been disclosed if the announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

In particular, unless otherwise determined by Seven Technologies and permitted by applicable law and regulation, the Offer will not be made, directly or indirectly, in or into, or by the use of mails or any means of instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange of any Restricted Jurisdiction (including the United States, Australia, Canada, the Republic of South Africa and Japan). Accordingly, except as required by applicable law, copies of the Offer Document and this announcement are not being, and may not be, mailed or otherwise forwarded, distributed or sent in, into or from any Restricted Jurisdiction. Persons receiving the Offer Document or this announcement (including without limitation nominees, trustees or custodians) must not forward, distribute or send it into any Restricted Jurisdiction

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFFDRVIILIV

Datong Electronics (LSE:DTE)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024