Mallett PLC Offer Update (3927V)
27 10월 2014 - 11:43PM
UK Regulatory
TIDMMAE TIDMSGI
RNS Number : 3927V
Mallett PLC
27 October 2014
THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM ANY STATE OR JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Recommended Cash Offer
by
The Fine Art Auction Group Limited
(a wholly owned subsidiary of The Stanley Gibbons Group plc)
for
Mallett PLC
27 October 2014
On 29 September 2014, the boards of directors of Stanley Gibbons
and Mallett announced that they had reached agreement on the terms
of a recommended cash offer to be made by TFAAG, a wholly-owned
subsidiary of Stanley Gibbons, for the whole of Mallett's issued
and to be issued share capital.
The Offer Document, containing the full terms of, and conditions
to, the Offer together with a Form of Acceptance (in respect of
Mallett Shares held in certificated form), was posted to Mallett
Shareholders on the same day.
Offer unconditional in all respects
On 20 October 2014, being the first closing date of the Offer,
Stanley Gibbons and TFAAG announced that the acceptance condition
to the Offer had been satisfied and that all remaining conditions
to the Offer, as set out in the Offer Document, had been satisfied
or waived. Accordingly, the Offer was declared wholly
unconditional.
Delisting and cancellation of trading
As set out in the Offer Document, as the Offer has become wholly
unconditional and TFAAG has received valid acceptances under the
Offer in respect of more than 75 per cent. of the voting rights of
Mallett, Mallett has applied to the UK Listing Authority for the
cancellation of listing of the Mallett Shares from the UK Listing
Authority's Official List and trading on the London Stock
Exchange's main market for listed securities.
The required notice period has commenced and cancellation of
listing of the Mallett Shares from the UK Listing Authority's
Official List and trading on the London Stock Exchange's main
market for listed securities is expected to take effect on 18
November 2014.
The cancellation of the admission of Mallett Shares to trading
on the London Stock Exchange's main market will significantly
reduce the liquidity and marketability of any Mallett Shares not
assented to the Offer.
Offer timetable
The Offer will close at 1.00 p.m. (London time) on 3 November
2014. Failure to accept the Offer by 1.00 p.m. (London time) on 3
November 2014 will mean that you will not be entitled to accept the
Offer.
Mallett Shareholders who have not already validly accepted the
Offer are encouraged to do so without delay.
Further details of the Offer timetable and action to be taken to
accept the Offer are contained in TFAAG's announcement made on 20
October 2014.
Terms used in this announcement will have the meanings given to
them in the Offer Document dated 29 September 2014, unless
otherwise stated.
Further enquiries:
Mallett PLC
Giles Hutchinson Smith (Chief Executive) Tel: +44 (0) 20 7499
7411
Smith Square Partners LLP (financial adviser to Mallett)
John Craven, Jade Jack Tel: +44 (0) 20 3696 7260
This announcement is for information only and is not intended to
and does not constitute, or form part of any offer to sell or
invitation to purchase or subscribe for any securities, or any
solicitation of any vote or approval in any jurisdiction pursuant
to the Offer or otherwise. The Offer will be effected solely
through the Offer Document, which, together with the Form of
Acceptance (in relation to Mallett Shareholders holding shares in
certificated form only) contains the full details, terms and
conditions of the Offer, including the details of how to accept the
Offer. Any response to the Offer should be made only on the basis
of the information contained in the Offer Document.
Smith Square Partners, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting
exclusively for Mallett and no-one else in connection with the
Offer and other matters referred to in this announcement and will
not be responsible to anyone other than Mallett for providing the
protections afforded to clients of Smith Square Partners or for
providing advice in relation to the Offer, the contents of this
announcement or any other matter referred to herein. Neither Smith
Square Partners nor any of its affiliates owes or accepts any duty,
liability or responsibility whatsoever (whether direct or indirect,
whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Smith Square Partners in connection
with this announcement and any statement contained herein or
otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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