TIDMBONH
RNS Number : 5282G
Bonhill Group PLC
19 July 2023
19 July 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
THAT JURISDICTION .
Bonhill Group plc
("Bonhill" or the "Company")
Result of Tender Offer,
Total Voting Rights,
Directors' interests
and
Cancellation
Bonhill (AIM: BONH), announces the result of its Tender Offer,
details of which were set out in the circular published by the
Company on 7 June 2023 (the "Circular") with a revised timetable
announced on 23 June 2023, further details of which are set out
below.
The maximum aggregate number of Ordinary Shares that could be
purchased pursuant to the Tender Offer was 48,013,696 Ordinary
Shares at the Tender Price of 10 pence per Ordinary Share, for an
aggregate maximum consideration of approximately GBP4.8 million.
Each Shareholder was entitled to tender up to approximately 40.25
per cent. of the Ordinary Shares held by them at the Record
Date.
The Tender Offer closed at 1.00 p.m. on 18 July 2023. Valid
tenders were received in respect of 38,834,341 Ordinary Shares,
equal to approximately 81 per cent. of the total number of Ordinary
Shares subject to the Tender Offer. All Ordinary Shares validly
tendered by any Shareholder up to their Entitlement have been
accepted in full.
All of the 38,834,341 Ordinary Shares validly tendered and
purchased by the Company will be cancelled, with effect from on or
around 25 July 2023.
Total Voting Rights
Following the closing of the Tender Offer and the cancellation
of 38,834,341 Ordinary Shares referred to above, the Company will
have 80,454,346 Ordinary Shares in issue with no Ordinary Shares
held in treasury. Therefore, the total number of voting rights in
the Company will be 80,454,346 which may be used by Shareholders as
the denominator in the calculations by which they may determine if
they are required to notify their interest, or a change to their
interest, in the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Directors' interests
As set out in the Circular, Laurie Benson and Jonathan Glasspool
tendered, in aggregate 257,573 Ordinary Shares, representing their
maximum entitlement under the Tender Offer. Therefore, following
cancellation of the Directors' successfully tendered Ordinary
Shares, the interests of each Director (and their immediate
families), all of which are beneficial, in the Company's total
voting rights are follows:
Number of Ordinary Percentage Number of Ordinary Percentage
Shares held pre-Tender of total voting Shares-held of total voting
Offer rights held immediately rights held
Name pre- following the immediately
Tender Offer Tender Offer following the
Tender Offer
Jonathan Glasspool 586,142 0.49% 350,220 0.44%
Sarah Thompson - - - -
Laurie Benson 53,792 0.05% 32,141 0.04%
Cancellation of admission of the Ordinary Shares to trading on
AIM
Following the application by Bonhill to the London Stock
Exchange, the cancellation of admission of the Ordinary Shares to
trading on AIM is expected to become effective at 7.00 a.m. on 31
July 2023, therefore the last day of dealings in the Ordinary
Shares on AIM is 28 July 2023.
The full timetable of principal events of the Tender Offer and
Cancellation, as announced on 23 June 2023, is set out below: -
2023
Unconditional Date for the Tender Offer and completion 19 July
of purchase of Ordinary Shares under the Tender
Offer
CREST accounts credited with Tender Offer proceeds by 28 July
for uncertificated Ordinary Shares
Despatch of cheques for Tender Offer consideration by 28 July
in respect of certificated Ordinary Shares sold
under the Tender Offer and any balance certificates
in respect of any unsold certificated Ordinary
Shares
Last day of dealings in Ordinary Shares on AIM 28 July
Cancellation becomes effective 7.00 a.m. on 31 July
Notes:
All references to times throughout this announcement are to
London time. If any of the above times and/or dates change, the
revised times and/or dates will be notified by the Company by an
announcement through a Regulatory Information Service.
Capitalised terms used in this announcement (unless otherwise
defined) have the meanings set out in the Circular.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the UK version
of the EU Market Abuse Regulation (2014/596) which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018, as
amended and supplemented from time to time.
The person responsible for arranging the release of this
announcement on behalf of the Company is Sarah Thompson, Chief
Financial Officer.
Enquiries:-
Bonhill Group plc
Jonathan Glasspool, Non-executive Chairman
Sarah Thompson, Chief Financial Officer +44 (0)20 7250 7963
Shore Capital (Financial Adviser, Nominated
Adviser and Broker)
Tom Griffiths/David Coaten/Tom Knibbs +44 (0)20 7408 4050
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END
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