Terra Capital PLC Third compulsory redemption of shares (0536O)
25 1월 2019 - 4:00PM
UK Regulatory
TIDMTCA
RNS Number : 0536O
Terra Capital PLC
25 January 2019
TERRA CAPITAL PLC (THE "COMPANY")
COMPULSORY REDEMPTION OF ORDINARY SHARES
Legal Entity Identifier: 2138006S6U2X7L4R8V74
25 January 2019
Further to the Company's previous announcements and as per the
Compulsory Redemption mechanism outlined in the Company's Circular
dated 15 June 2018 (the "Circular"), the Company advises that it
will return to Shareholders by way of a compulsory partial
redemption of Ordinary Shares an amount of approximately $10.3
million.
The Company is pleased to confirm that its portfolio of
investments has now been fully realised and the proceeds from
realisations received in cash. Consequently, it is expected that a
circular will be issued in the near future to seek Shareholder
approval to put the Company into members' voluntary liquidation,
appoint a liquidator and cancel the admission of the Ordinary
Shares to trading on AIM. The Company is in discussion with its
advisors to ensure arrangements are in place, prior to the issue of
the Circular, to ensure that, if approved the members' voluntary
liquidation will proceed without undue delay.
The percentage of Ordinary Shares being redeemed has been
determined at the Directors' sole discretion and does not relate to
the percentage of proceeds being distributed following the
realisation of the Company's portfolio. The number of Ordinary
Shares to be redeemed in aggregate in this third redemption will
represent 90 per cent. of the Company's issued share capital (the
"Redemption") as at close of business on Thursday 31 January 2019
(the "Redemption Record Date").
Payment will be made on 7 February 2019 being the redemption
payment date (the "Redemption Payment Date"). The Redemption Price
will be $1.04 for each Ordinary Share being redeemed (the
"Redemption Price").
The Redemption Price has been determined based on the Net Asset
Value as at 31 December 2018, updated for the final asset disposals
undertaken in January 2019, which was announced to the market on 17
January 2019. As the Company is now operating as a realisation
company, the calculation of the Net Asset Value includes an
estimate of liquidation costs and a provision for final fees and
expenses expected to be incurred.
The Redemption will be effected pro rata to the holdings of
Ordinary Shares on the register at the close of business on the 31
January 2019, being the Redemption Record Date. No fractions of
Ordinary Shares will be redeemed and the number of Ordinary Shares
to be redeemed for each Shareholder will be rounded down to the
nearest whole number of Ordinary Shares as appropriate.
All existing Ordinary Shares will be traded under the existing
ISIN number IM00BFD2HQ29 (the "Old ISIN") until close of business
on the Redemption Record Date. The Ordinary Shares being redeemed
will be disabled in CREST after close of business on the Redemption
Record Date and the Old ISIN will expire. The Ordinary Shares being
redeemed will be cancelled and all proceeds of the Redemption will
be paid in US Dollars on or around the Redemption Payment Date.
The new ISIN number IM00BFMXG143 (the "New ISIN"), in respect of
the remaining Shares which have not been redeemed, will be enabled
and available for transactions from 08:00 on 1 February 2019. CREST
will automatically transform any open transactions as at the
Redemption Date into the New ISIN.
Expected timetable:
Redemption Record Date 31 January 2019
Redemption Date and new ISIN 1 February 2019
enabled
Redemption Payment Date (on 7 February 2019
or around)
Terms not defined in this announcement shall have the same
meaning as those defined in the Circular.
For more information, please visit www.terracapitalplc.com or
contact:
Galileo Fund Services Limited (Administrator)
Frazer Pickering
+44 1624 692600
Panmure Gordon (UK) Limited (Nominated adviser and corporate
broker)
Jonathan Becher
+44 20 7886 2500
Terra Capital plc.
Ian Dungate, Director
+44 1624 692600
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCLLFSELDISFIA
(END) Dow Jones Newswires
January 25, 2019 02:00 ET (07:00 GMT)
Terra Capital (LSE:TCA)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Terra Capital (LSE:TCA)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024