leadf
logo-loader
RNS
viewHaike Chemical

HaiKe Chemical Group - Exit Facility and Cancellation

RNS Number : 1759I
HaiKe Chemical Group Ltd.
19 March 2018
 


19 March 2018

HaiKe Chemical Group Limited

("HaiKe", the "Group" or the "Company")

Exit Facility, Cancellation and Matched Bargain Facility

Exit Facility

HaiKe Chemical Group Limited, the AIM quoted (AIM: HAIK) specialty chemical business based in Shandong Province, China announces that valid acceptances have been received under the Exit Facility by Hai Yuan Trading in respect of 15,993,036 Ordinary Shares, representing 41.7 per cent. of the Company's total issued Ordinary Shares and 93.3 per cent. of the maximum 17,134,529 Ordinary Shares to which the Exit Facility applied.

The Exit Facility is now closed, and payments to accepting holders of Ordinary Shares or Depositary Interests (as applicable) are expected to be made on 22 March 2018. 

Cancellation

The Company expects that the last day of dealings in the Ordinary Shares on AIM will be today, 19 March 2018, and that admission of the Ordinary Shares to trading on AIM will be cancelled at 7.00 a.m. on 20 March 2018.

The Company will also be cancelling the Depositary Interest facility following Cancellation and Depositary Interest holders will receive a share certificate for their cancelled Depositary Interest holding.      

Matched Bargain Facility

Following Cancellation, the Company will become a private overseas company and the Company recognises that this will make it more difficult for Shareholders to buy and sell Ordinary Shares should they wish to do so. Therefore, as set out in Part 7 of the circular dated 16 February 2018, the Company is making arrangements for a Matched Bargain Facility to assist Shareholders to trade in the Ordinary Shares following Cancellation. The Matched Bargain Facility will be administered directly by the Company.

Under the Matched Bargain Facility, Shareholders or persons wishing to acquire or dispose of Ordinary Shares in the Company following Cancellation should contact the Company via email to [email protected], giving an indication that they are prepared to buy or sell at a specified price. In the event that the Company is able to match that indication with an opposite sell or buy instruction, the Company will contact both parties to arrange the trade.

However, in carrying out such activities, the Company will take no responsibility to match up Shareholders wishing to sell and purchase Ordinary Shares, and no responsibility in respect of the time frame in which introductions or communications (if any) are made or as to the price at which any trades might take place.

Details of the Matched Bargain Facility will also be published on the Company website at www.haikechemical.com.

 

For further information:

 

HaiKe Chemical Group                                  +86 546 7787789

Jes Cui, Chief Financial Officer                  [email protected] 

Yolanda Zhang, Company Secretary        [email protected] 

 

Stockdale Securities                                       +44 (0) 20 7601 6100

Richard Johnson / Elhanan Lee

 

Cardew Group                                                   +44 (0) 20 7930 0777

Shan Shan Willenbrock / Joe McGregor [email protected] 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Defined terms used in this announcement have the same meaning as in the Company's circular to Shareholders dated 16 February 2018.

 

If any of the above times and/or dates in this announcement change, the revised times and/or dates will be notified to Shareholders by announcement through the Regulatory Information Service.

 

All times stated in this announcement are London times unless otherwise stated.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCJLMITMBJBBRP

Quick facts: Haike Chemical

Price: -

Market: AIM
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

3 min read