Qannas Investments Limited Result of Tender Offer (4584N)
August 09 2017 - 1:00AM
UK Regulatory
TIDMQIL
RNS Number : 4584N
Qannas Investments Limited
09 August 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
9 August 2017
QANNAS INVESTMENTS LIMITED
Result of Tender Offer and
Directors' Shareholdings
Qannas Investments Limited (the "Company" or "QIL"), the
closed-ended investment company listed on the AIM market (AIM:QIL),
posted to shareholders on 21 July 2017 a circular ("Circular") in
respect of a tender offer to purchase up to 8,888,889 Ordinary
Shares at a tender price of US$0.90 per Ordinary Share, up to an
aggregate value of approximately US$8.00 million.
Result of Tender Offer
The Company can confirm that a total of 8,888,889 Ordinary
Shares have been tendered in connection with the Tender Offer.
Tenders for up to 12.9 per cent. of Shareholders' Ordinary Shares
and Depositary Interests registered in their name at the Record
Time (rounded down to the nearest whole Ordinary Share) will be met
in full. Tenders received for surplus Ordinary Shares will be
accepted in proportion to the number of additional Ordinary Shares
tendered so that the total number of Ordinary Shares purchased
pursuant to the Tender Offer does not exceed 8,888,889.
The Ordinary Shares purchased by the Company pursuant to the
Tender Offer will be held in treasury. CREST accounts will be
credited for revised holdings of Ordinary Shares on 10 August 2017,
payment through CREST will be made for uncertificated Ordinary
Shares purchased pursuant to the Tender Offer by 18 August 2017 and
cheques and balancing share certificates will be despatched for
certificated Ordinary Shares purchased pursuant to the Tender Offer
by 18 August 2017.
Directors' Interests
Certain of the directors of the Company, have tendered Ordinary
Shares under the Tender Offer, their participation is set out
below:
Number Percentage Number Number Percentage
of Ordinary of Total of Ordinary of Ordinary of Total
Shares Voting Shares Shares Voting
prior Rights tendered following Rights
to the prior to the Tender following
Tender the Tender Offer the Tender
Offer Offer Offer
---------------- ------------ ----------- ------------ ------------ -----------
Abu Dhabi
Financial
Group LLC* 12,997,237 18.88% 1,714,112 11,283,125 18.82%
---------------- ------------ ----------- ------------ ------------ -----------
Mustafa Kheriba 531,728 0.77% 70,125 461,603 0.77%
---------------- ------------ ----------- ------------ ------------ -----------
Christopher
Ward 100,000 0.15% - 100,000 0.17%
---------------- ------------ ----------- ------------ ------------ -----------
Richard Green 100,000 0.15% - 100,000 0.17%
---------------- ------------ ----------- ------------ ------------ -----------
Richard Prosser - - - - -
---------------- ------------ ----------- ------------ ------------ -----------
*the parent company of ADCM Ltd, being the Company's Investment
Manager.
Total Voting Rights
With effect from 10 August 2017, the Company's issued share
capital will consist of 78,133,409 Ordinary Shares and the Company
will hold 18,193,697 Ordinary Shares in treasury.
The total number of voting rights in the Company is therefore
59,939,712. 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 under the FCA's Disclosure and
Transparency Rules.
Terms used and not defined in this announcement bear the meaning
given to them in the Circular.
For further information please contact:
Qannas Investments Limited Tel: 015 3481 8022
Vinod Rajput
ADCM Ltd. (Investment Manager) Tel: +971 2 639 0099
Mustafa Kheriba
finnCap Ltd Tel: 020 7220 0500
Henrik Persson/James Thompson (Corporate Finance)
Details of the person discharging managerial responsibilities / person closely associated
------------------------------------------------------------------------------------------------------------------
a) Name Mustafa Kheriba
-------------------------------------------------------- --------------------------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------------------------------------- --------------------------------------------------------
b) Initial notification/Amendment Initial
-------------------------------------------------------- --------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
------------------------------------------------------------------------------------------------------------------
a) Name Qannas Investments Limited
-------------------------------------------------------- --------------------------------------------------------
b) LEI 21380042SL88EILG1I04
-------------------------------------------------------- --------------------------------------------------------
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 Financial instrument, type of Ordinary shares of no par value
instrument
-------------------------------------------------------- --------------------------------------------------------
Identification code KYG7306P1037
-------------------------------------------------------- --------------------------------------------------------
b) Nature of the transaction Ordinary Shares Tendered
-------------------------------------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
$0.90 70,125
-------------------------------------------------------- --------------------------------------------------------
d) Aggregated information:
-- Aggregated volume 70,125 Ordinary Shares of no par value tendered at
-- Price $0.90 per shares
-------------------------------------------------------- --------------------------------------------------------
e) Date of the transaction 4 August 2017
-------------------------------------------------------- --------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- --------------------------------------------------------
Details of the person discharging managerial responsibilities / person closely associated
------------------------------------------------------------------------------------------------------------------
a) Name Abu Dhabi Financial Group LLP
-------------------------------------------------------- --------------------------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------------------------------------------------
a) Position/status Parent company of ADCM Ltd, the Investment Manager of
QIL
-------------------------------------------------------- --------------------------------------------------------
b) Initial notification/Amendment Initial
-------------------------------------------------------- --------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
------------------------------------------------------------------------------------------------------------------
a) Name Qannas Investments Limited
-------------------------------------------------------- --------------------------------------------------------
b) LEI 21380042SL88EILG1I04
-------------------------------------------------------- --------------------------------------------------------
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 Financial instrument, type of Ordinary shares of no par value
instrument
-------------------------------------------------------- --------------------------------------------------------
Identification code KYG7306P1037
-------------------------------------------------------- --------------------------------------------------------
b) Nature of the transaction Ordinary Shares Tendered
-------------------------------------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
$0.90 1,714,112
-------------------------------------------------------- --------------------------------------------------------
d) Aggregated information:
-- Aggregated volume 1,714,112 Ordinary Shares of no par value tendered at
-- Price $0.90 per shares
-------------------------------------------------------- --------------------------------------------------------
e) Date of the transaction 4 August 2017
-------------------------------------------------------- --------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- --------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
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