05:30 Wed 04 Dec 2019
Avesoro Resources - Expiry of Extension Period, Compulsory Acquisition
TSX: ASO
AIM: ASO
Avesoro Announces Expiry of
Since AJL's initial take up of 18,880,713 Common Shares on
Immediately prior to the Offer, AJL owned 59,457,152 Common Shares, representing, on a non-diluted basis, approximately 72.9% of the issued and outstanding Common Shares. With the take up of the Common Shares on
Compulsory Acquisition
AJL has announced that it intends to carry out a compulsory acquisition (the "Compulsory Acquisition") of all of the remaining issued and outstanding Common Shares that are not currently owned by AJL pursuant to the provisions of the Canada Business Corporations Act (the "Act"). Under the terms of the Compulsory Acquisition, and subject to the terms of the Act, the holders of all remaining Common Shares not currently owned by AJL will be entitled to receive the same consideration per share as paid under the Offer, being
A notice of compulsory acquisition (the "Notice") and letter of transmittal and election (the "Letter of Transmittal and Election") will be sent by AJL to all registered holders of Common Shares who did not deposit their shares to the Offer to describe, among other things, the process and schedule for completion of the Compulsory Acquisition and the associated actions that such remaining shareholders are required to take on or before
Delisting
AJL has further announced that it intends to cause Avesoro to apply to delist the Common Shares from the
Caution Concerning Forward-Looking Statements
Certain statements made in this news release are forward-looking statements, including anticipated future events and circumstances, including in particular, but not limited to, statements relating to the timing of payment for the Additional Common Shares, the Compulsory Acquisition, the proposed voluntary delisting of the Common Shares from the TSX and the AIM, and the grant of a waiver from the
Contact Information
Tel: +44(0) 20 3405 9160
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Camarco (IR / Financial PR)
Tel: +44(0) 20 3757 4980 |
finnCap (Nominated Adviser and Joint Broker) Tel: +44(0) 20 7220 0500
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Berenberg (Joint Broker) Tel: +44(0) 20 3207 7800 |
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The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the grant of options to PDMRs.
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 |
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a) |
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Serhan Umurhan |
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2 |
Reason for the notification |
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a) |
Position/status |
Director and Chief Executive Officer |
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b) |
Initial notification/ Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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b) |
LEI |
213800EXV9AU2DOCYC52 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
Common shares of no par value
ISIN for
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b) |
Nature of the transaction |
Sale of common shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
80,100 |
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e) |
Date of the transaction |
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f) |
Place of the transaction |
Off market |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
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2 |
Reason for the notification |
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a) |
Position/status |
Director and Chief Financial Officer |
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b) |
Initial notification/ Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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b) |
LEI |
213800EXV9AU2DOCYC52 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
Common shares of no par value
ISIN for
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b) |
Nature of the transaction |
Sale of common shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
27,100 |
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e) |
Date of the transaction |
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f) |
Place of the transaction |
Off market |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
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2 |
Reason for the notification |
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a) |
Position/status |
Non-Executive Director |
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b) |
Initial notification/ Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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|
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b) |
LEI |
213800EXV9AU2DOCYC52 |
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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 instrument Identification code |
Common shares of no par value
ISIN for
|
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b) |
Nature of the transaction |
Sale of common shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
4,314 |
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e) |
Date of the transaction |
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f) |
Place of the transaction |
Off market |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
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|
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2 |
Reason for the notification |
|||||
a) |
Position/status |
Non-Executive Director |
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b) |
Initial notification/ Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
b) |
LEI |
213800EXV9AU2DOCYC52 |
||||
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 instrument Identification code |
Common shares of no par value
ISIN for
|
||||
b) |
Nature of the transaction |
Sale of common shares |
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information - Aggregated volume - Price |
993 |
||||
e) |
Date of the transaction |
|
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f) |
Place of the transaction |
Off market |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
a) |
|
|
||||
2 |
Reason for the notification |
|||||
a) |
Position/status |
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) |
|
|
||||
b) |
LEI |
213800EXV9AU2DOCYC52 |
||||
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 instrument Identification code |
Common shares of no par value
ISIN for
|
||||
b) |
Nature of the transaction |
Sale of common shares |
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information - Aggregated volume - Price |
995 |
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Off market |
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