WTH Water Hall Grp

TIDMWTH

RNS Number : 9285M

Water Hall Group Plc

30 August 2013

For immediate release

30 August 2013

Water Hall Group plc

("Water Hall" or the "Company")

Proposed cancellation from AIM

The Board of Water Hall notes the announcement made earlier today by Petards Group Plc ("Petards") that as at 5.00 p.m. on 29 August 2013, Petards had received valid acceptances from Water Hall Shareholders in respect of a total of 64,218,764 Water Hall Shares, representing approximately 80.64 per cent. of the issued share capital of Water Hall, and that the Offer had been declared wholly-unconditional.

Accordingly, at the request of Petards, Water Hall is applying for the cancellation of admission to trading of Water Hall Shares on AIM (the "Cancellation").

In accordance with the guidance notes to AIM Rule 41, shareholder consent in general meeting of Water Hall, which would otherwise be required pursuant to AIM Rule 41, will not be required as the proposed Cancellation is pursuant to the takeover by Petards of Water Hall which has been declared wholly-unconditional and furthermore that Petards has received valid acceptances, in respect of more than 75 per cent. of the issued share capital of Water Hall.

The proposed Cancellation will significantly reduce the liquidity and marketability of any Water Hall Shares that have not been accepted pursuant to the Offer. Following the Cancellation, there would be no market for Water Hall shareholders to realise their investment in Water Hall. Shareholders are still able to buy and sell Water Hall Shares prior to the Cancellation.

Cancellation of the admission to AIM of Water Hall Shares is expected to be effective from 7.00am on 30 September 2013, being 20 clear business days from today.

Enquiries:

 
 Water Hall Group Plc                  www.waterhallgroupplc.com 
 Raschid Abdullah                      Tel: +44 (0) 1483 452 333 
 Beaumont Cornish Limited (Nominated 
  Adviser and Broker) 
 Roland Cornish / Michael Cornish      Tel: +44 (0) 20 7628 3396 
 

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

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