CLS Holdings PLC Sale of Treasury Shares (6294S)
November 11 2013 - 1:00AM
UK Regulatory
TIDMCLI
RNS Number : 6294S
CLS Holdings PLC
11 November 2013
Release date: 11 November 2013
Embargoed until: 07:00
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
CLS Holdings plc
("CLS", the "Company" or the "Group")
Sale of Treasury Shares
The Company is pleased to announce that on 8 November 2013 it
sold 1,600,000 ordinary shares of 25p each in the Company
("Ordinary Shares"), previously held as treasury shares, at a price
of 1215 pence per Ordinary Share (the "Sale").
The Ordinary Shares were placed with a number of institutional
investors through the Company's joint broker, Liberum Capital.
The Board considers that the Sale, which is in response to
feedback from its institutional investors, will increase liquidity
in the trading of the Company's Ordinary Shares. It will also
provide additional strength to the Group's balance sheet and extra
flexibility to take advantage of opportunities which arise in the
real estate market and other opportunities within the Company's
existing portfolio.
Following the settlement of Ordinary Shares pursuant to the
Sale, which is expected to occur on or around 15 November 2013, the
Company will have 46,856,893 Ordinary Shares in issue, of which
2,903,103 Ordinary Shares will be held as treasury shares.
Therefore, the total number of Ordinary Shares in issue following
completion of the Sale, excluding treasury shares, and also the
total number of voting rights in the Company will be 43,953,790.
The Company does not have any other class of shares in issue other
than the Ordinary Shares.
The above figure of 43,953,790 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, Ordinary Shares in the Company under the FCA's
Disclosure and Transparency Rules.
Sten Mortstedt, Executive Chairman of CLS, commented:
"I am pleased that, by this placing, we have been able to
satisfy some of the demand for shares in the Company.
"The fact that the shares were sold at a premium to the past
five days' average closing price, is evidence that the investors
share our optimistic view of the future possibilities.
"The Sale should increase liquidity in the trading of the
Company's shares and will further strengthen our ability to exploit
future opportunities to add value for our shareholders."
-ends-
For further information, please contact:
CLS Holdings plc +44 (0)20 7582 7766
www.clsholdings.com
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
Thomas Bective
Charles Stanley Securities +44 (0)20 7149 6000
Mark Taylor
Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons
Important Information
This announcement may not be published, distributed or
transmitted by any means or media, directly or indirectly, in whole
or in part, in or into the United States. This announcement does
not constitute an offer to sell, or a solicitation of an offer to
buy, securities in the United States. Securities may not be offered
or sold in the United States absent (i) registration under the U.S.
Securities Act of 1933, as amended (the "Securities Act") or (ii)
an available exemption from registration under the Securities Act.
The securities mentioned herein have not been, and will not be,
registered under the Securities Act and will not be offered to the
public in the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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