Concert Party Announcement
05 2월 2009 - 1:00AM
UK Regulatory
TIDMEET
RNS Number : 8054M
European Equity Tranche Income Ltd.
04 February 2009
European Equity Tranche Income Limited ("EETI" or the "Company")
Update re. Concert Party
The Company announced on 16 January 2009 that a circular (the "Circular") had
been sent to shareholders convening an extraordinary general meeting for 11 a.m.
on Thursday 5 February 2009, at which proposals relating to a capital
restructuring are to be considered and, if thought fit, approved.
As part of the proposals, the Company is seeking a waiver of Rule 9 of The City
Code on Takeovers and Mergers (in order to avoid Scribona Nordic and any parties
deemed by the Takeover Panel to be acting in concert with Scribona Nordic being
obliged to make a mandatory offer for all of the Company's Shares, which they
would otherwise be obliged to do as Scribona Nordic and other members of the
Concert Party will acquire over 30 per cent. of the voting rights of the Company
by way of the implementation of the proposed capital restructuring).
The Circular stated that certain members of the Concert Party, namely
Bronsst�det AB ("Bronsst�det") and Union Discount Company Limited ("UDC"),
indicated they wished to subscribe for 55 million and 10 million shares
respectively in the Placing. The Company has now been informed that Bronsst�det
and UDC intend to subscribe for 13.5 million and 4.5 million shares
respectively. Accordingly, since Scribona Nordic is underwriting the Placing,
the maximum potential holding of the Concert Party following completion of the
proposed capital restructuring as set out in the Circular remains unchanged.
Capitalised terms in this announcement shall, unless otherwise stated, have the
same meaning as set out in the section headed "Definitions" in the Circular.
Enquiries:
European Equity Tranche Income Limited
Robin Monro Davies 0845 868 0533
Arbuthnot Securities Limited
Alastair Moreton 020 7012 2000
Anson Fund Managers Limited
Secretary 01481
722260
4 February 2009
E&OE - in transmission
END OF ANNOUNCEMENT
This information is provided by RNS
The company news service from the London Stock Exchange
END
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