Deepverge PLC Completion of Compulsory Acquisition; TVR (7734L)
January 15 2021 - 1:00AM
UK Regulatory
TIDMDVRG TIDMTTM
RNS Number : 7734L
Deepverge PLC
15 January 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. IN PARTICULAR,
THIS ANNOUNCEMENT SHOULD NOT BE RELEASED, PUBLISHED, DISTRIBUTED,
FORWARDED OR TRANSMITTED, IN WHOLE OR IN PART, IN, INTO OR FROM ANY
RESTRICTED JURISDICTION, INCLUDING THE US.
15 JANUARY 2021
RECOMMENDED ALL SHARE OFFER
for
MODERN WATER PLC
by
DEEPVERGE PLC
COMPLETION OF COMPULSORY ACQUISITION
On 28 August 2020 the board of directors of DeepVerge PLC
(DeepVerge) and the Independent Directors of Modern Water PLC
(Modern Water) announced that they had reached agreement on the
terms of a recommended all share offer to be made by DeepVerge for
the entire issued and to be issued share capital of Modern Water
(the Offer). The full terms and conditions of the Offer and the
procedures for acceptance were set out in the offer document
published by DeepVerge on 13 October 2020 (the Offer Document).
As at 1.00 p.m. on 17 November 2020, the closing date of the
Offer, DeepVerge had received valid acceptances from shareholders
of Modern Water in respect of a total of 520,323,686 Modern Water
Shares, representing approximately 93.47% of the issued share
capital of Modern Water.
Compulsory acquisition
Further to DeepVerge's announcement on 17 November 2020 that it
had received valid acceptances in respect of more than 90% in
nominal value of the Modern Water Shares to which the Offer
relates, the Company commenced compulsory acquisition proceedings
under sections 974-991 of the Companies Act 2006. The Company
announces that the compulsory acquisition of all remaining Modern
Water Shares has now completed.
Share allotment
The Company has today allotted 3,636,915 New DeepVerge Shares in
respect of the Modern Water Shares compulsorily acquired, and
application will be made for these shares to be admitted to trading
on AIM ("Admission"). Admission is expected to occur at 8.00 a.m.
on 20 January 2021.
Total Voting Rights
The Company's total issued share capital, following the issue of
the new Ordinary Shares, will be 169,514,211 ordinary shares of 0.1
pence per share. As the Company does not hold any shares in
Treasury, this figure may be used by shareholders in the Company 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 share capital of the Company following
Admission.
Enquiries
DeepVerge plc Ross Andrews, Chairman Contact via DeepVerge's
PR
SPARK Advisory Partners Limited Neil Baldwin/Andrew +44 (0) 113 370
(Nominated Adviser) Emmott 8974
Turner Pope Investments (TPI) Andy Thacker/Zoe +44 (0) 20 3657
Limited (Broker) Alexander 0050
Mo PR (Financial PR adviser +44 (0) 7876
to DeepVerge) Mo Noonan 444977
About DeepVerge plc (www.deepverge.com)
DeepVerge is an environmental and life science group of
companies that develops and applies AI and IoT technology to
analytical instruments for the analysis and identification of
bacteria, virus and toxins. Utilising artificial intelligent data
analytics to scientifically prove the impact of skincare product
claims on skin microbiome for most of the top 20 global cosmetic
company clients and remotely detect and identify in real-time,
dangerous pathogens in wastewater treatment plants, drinking water,
rivers, lakes and reservoirs.
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END
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