Sacoven PLC Result of EGM (9700P)
November 23 2016 - 9:00AM
UK Regulatory
TIDMSCN
RNS Number : 9700P
Sacoven PLC
23 November 2016
SACOVEN PLC
(Incorporated in Jersey under the Companies (Jersey) Law
1991
(Company number 110296)
AIM Share code: SCN
JSE Share code: SCV
ISIN: JE00B7YH8W36
("Sacoven" or the "Company")
Result of EGM in connection with cancellation of trading on AIM
and delisting from the Alt-X
Reminder regarding redemption of Ordinary Shares
Sacoven shareholders ("Shareholders") are hereby advised that at
the extraordinary general meeting of Shareholders held today (the
"Meeting"), all of the resolutions contained in the notice of
extraordinary general meeting and proposed at the Meeting (the
"De-listing Resolutions"), were passed by the requisite majority of
votes.
Shareholders are reminded that, as a result of the De-listing
Resolutions being passed, cancellation of the Company's Ordinary
Shares from trading on AIM will be effective at 7.00a.m. UK time
(10.00a.m. SA time) on 2 December 2016 and trading in the Ordinary
Shares on the Alt-X will be suspended at 7.00a.m. UK time (9.00a.m.
SA time) on 30 November 2016 with delisting of the Ordinary Shares
from the Alt-X taking place on 20 December 2016.
Important Information regarding the redemption of Ordinary
Shares
Shareholders are reminded that if they wish to apply to have the
Company redeem their Ordinary Shares on the terms and subject to
the conditions set out in the Company's circular to Shareholders
dated 7 November 2016 (which is available on the Company's website
www.sacoven.com) (the "Circular"), they must do so before 1.00p.m.
UK time (3.00p.m. SA time) on 5 December 2016 in accordance with
the procedures set out in the Circular.
Shareholders should be aware that, if they fail to apply to have
the Company redeem their Ordinary Shares, they will lose the right
to receive the Redemption Price and will only be entitled to
receive a pro-rata entitlement to the assets that remain in the
Company on winding up. Those remaining assets will be shared pro
rata between Brunswood and any other Shareholders that have chosen
not to have their Ordinary Shares redeemed (or have otherwise
failed to submit a valid Redemption Notice or USE Instruction).
An expected timetable of principal events relating to the
Delisting and the Redemption is set out below
Exchange rate to be announced 29 November 2016
Last day of dealing of Ordinary 29 November 2016(*)
Shares on the Alt-X
Suspension of trading on the 7.00a.m. UK time
Alt-X (9.00a.m. SA time)
on 30 November 2016
Last day of dealing of Ordinary 1 December 2016
Shares on AIM
Cancellation of admission 7.00a.m. UK time
to trading on AIM and record (10.00a.m. SA time)
date for the termination of on 2 December 2016
trading on the Alt-X
Latest time and date for receipt 1.00p.m. UK time
of Redemption Notices, USE (3.00p.m. SA time)
Instructions from CREST Shareholders on 5 December 2016
and elections from CSDPs or
brokers on behalf of Strate
Shareholders
Redemption Date 5 December 2016
Cheques despatched for certificated by no later than
Ordinary Shares redeemed pursuant 19 December 2016
to the Redemption and payment
through CREST for uncertificated
Ordinary Shares redeemed pursuant
to the Redemption
Termination of trading on 7.00a.m. UK time
the Alt-X (9.00a.m. SA time)
on 20 December 2016
(*) Shareholders should note that following this time, transfers
of Ordinary Shares between the Company's register of members and
the register maintained to facilitate the transfer of Ordinary
Shares on the Alt-X market will no longer be possible
Each of the times and dates in the above timetable is subject to
change. If any of the above times and/or dates change, the revised
times and/or dates will be notified to Shareholders by announcement
through a Regulatory Information Service.
Terms used in the announcement but not defined are as defined in
the Circular.
Sacoven has a primary listing on the Alternative Investment
Market of the London Stock Exchange and a secondary listing on the
AltX of the Johannesburg Stock Exchange.
23 November 2016
Jersey
JSE Sponsor AIM Nomad and Broker
KPMG Services Proprietary Liberum Capital Limited
Limited Clayton Bush & Christopher
Britton
Tel: +44 (0)20 3100
2000
For further information please visit the Company's website
www.sacoven.com
Niall McCallum + 44 (0)1534 823000
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFFSLILVFIR
(END) Dow Jones Newswires
November 23, 2016 10:00 ET (15:00 GMT)
Sacoven (LSE:SCN)
Historical Stock Chart
From May 2024 to Jun 2024
Sacoven (LSE:SCN)
Historical Stock Chart
From Jun 2023 to Jun 2024