TIDMMMX
RNS Number : 0596A
Minds + Machines Group Limited
31 January 2022
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
Result of Tender Offer
Further to the announcement made on 14 January 2022, Minds +
Machines Group Limited (AIM: MMX) is pleased to announce the
results of its Tender Offer. The Tender Offer closed at 1.00pm on
28 January 2022.
The Company confirms the Tender Offer was fully subscribed and
182,692,308 Ordinary Shares will be purchased at a price of 10.4
pence per Ordinary Share, for an aggregate consideration of GBP19
million. Tenders for up to and including the Tender Offer
Entitlement of 1 Ordinary Share for every 1.49 Ordinary Shares held
by a shareholder will be met in full representing approximately
89.68% of the Ordinary Shares being purchased by the Company. The
remaining 10.32% of the Ordinary Shares being bought back under the
Tender Offer, will be purchased on the basis of 1 Ordinary Share
for every 12.91 Ordinary Shares tendered, pursuant to demand for
Excess Shares by Eligible Shareholders. The Ordinary Shares to be
purchased under the Tender Offer represent approximately 67.3% of
the current Ordinary Shares in issue.
All of the 182,692,308 Ordinary Shares being bought back will be
cancelled by the Company.
Cheques will be dispatched for certificated Ordinary Shares
purchased pursuant to the Tender Offer and payment will be made
through CREST for uncertificated Ordinary Shares purchased pursuant
to the Tender Offer, in each case, by 7 February 2022.
Total Voting Rights
With effect from 7 February 2022, the total number of
exercisable voting rights in the Company will reduce from
271,316,341 to 88,624,033. This figure 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, the Company.
Director shareholdings
With effect from 7 February 2021, the Directors of the Company
and their connected persons will have the following shareholdings
in the Company:
Director Shareholding Ordinary Shareholding % of revised
pre-Tender Shares tendered post-Tender issued share
Offer Offer capital held
post Tender
Offer and
Subscription
Guy Elliot 6,782,888 5,092,882 1,690,006 1.91%
------------- ----------------- ------------- --------------
Tony Farrow 213,299 160,154 53,145 .06%
------------- ----------------- ------------- --------------
Bryan Disher - - - .00%
------------- ----------------- ------------- --------------
Henry Turcan* 29,481,105 22,135,674 7,345,431 8.29%
------------- ----------------- ------------- --------------
* Mr. Turcan is a representative of Lombard Odier Asset
Management Europe Limited ("LOAME"), which in its capacity as
discretionary investment manager for certain funds and accounts
holds in aggregate 29,481,105 Ordinary Shares.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
circular to shareholders dated 14 January 2022 and available on the
Company's website www.mmx.co .
F u r t h e r I n for m a t io n :
Minds + Machines Group Limited
Tony Farrow (CEO)
Bryan Disher (CFO)
finnCap Ltd Tel: +44 (0) 20 7220
0500
Corporate finance - Stuart Andrews
/ Carl Holmes / Simon Hicks
Corporate broking - Tim Redfern /
Richard Chambers
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Guy Elliott
------------------------------- -------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------
a) Position/status Non-Executive Chairman
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Minds + Machines Group Limited
------------------------------- -------------------------------------
b) LEI 2138008VAFDJAYYYNP95
------------------------------- -------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------
a) Description of the Ordinary Shares
Financial instrument,
type of instrument
Identification code VGG614091012
------------------------------- -------------------------------------
b) Nature of the transaction Disposal of Ordinary Shares under
the Tender Offer
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10.4p 5,092,882
----------
------------------------------- -------------------------------------
d) Aggregated information: Tender Offer of 5,092,882 Ordinary
* Aggregated volume Shares at a price of 10.4 pence per
Ordinary Share
* Price
------------------------------- -------------------------------------
e) Date of the transaction 28 January 2022
------------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tony Farrow
------------------------------- ----------------------------------------
2. Reason for the Notification
-------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Minds + Machines Group Limited
------------------------------- ----------------------------------------
b) LEI 2138008VAFDJAYYYNP95
------------------------------- ----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description of the Ordinary Shares
Financial instrument,
type of instrument
Identification code VGG614091012
------------------------------- ----------------------------------------
b) Nature of the transaction Disposal of Ordinary Shares under
the Tender Offer
------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10.4p 160,154
----------
------------------------------- ----------------------------------------
d) Aggregated information: Tender Offer of 160,154 Ordinary Shares
* Aggregated volume at a price of 10.4 pence per Ordinary
Share
* Price
------------------------------- ----------------------------------------
e) Date of the transaction 28 January 2022
------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Lombard Odier Asset Management (Europe)
Limited
------------------------------- ----------------------------------------
2. Reason for the Notification
-------------------------------------------------------------------------
a) Position/status PCA of Henry Turcan, Non-Executive
Director
------------------------------- ----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Minds + Machines Group Limited
------------------------------- ----------------------------------------
b) LEI 2138008VAFDJAYYYNP95
------------------------------- ----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description of the Ordinary Shares
Financial instrument,
type of instrument
Identification code VGG614091012
------------------------------- ----------------------------------------
b) Nature of the transaction Disposal of Ordinary Shares under
the Tender Offer
------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10.4p 22,135,674
-----------
------------------------------- ----------------------------------------
d) Aggregated information: Tender Offer of 22,135,674 Ordinary
* Aggregated volume Shares at a price of 10.4 pence per
Ordinary Share
* Price
------------------------------- ----------------------------------------
e) Date of the transaction 28 January 2022
------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ----------------------------------------
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END
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