03:00 Fri 15 Apr 2016
Sunny Hill Limited - Lapsing of Offer
For immediate release
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
ALL CASH OFFER
BY
SUNNY HILL LIMITED
FOR
ACCEPTANCE CONDITION NOT SATISFIED
OFFER HAS LAPSED
On
Capitalised terms or expressions used in this announcement have the same meanings as given to them in the Offer Document, unless the context requires otherwise.
Level of acceptances
As at
(i) 54.6 per cent. of the Petroceltic Shares Affected (for the purposes of the acceptance condition of the Offer as set out in paragraph 2(a) (Acceptance Condition) of Part A of Appendix I to the Offer Document); and
(ii) 38.5 per cent. of the issued share capital of
Interests in relevant securities
As at the close of business on (i)
As at the close of business on (i)
The percentages of Petroceltic Shares referred to in this announcement are based upon figures of 214,094,301
Lapsing of Offer
The Offer was made subject to valid acceptances being received (and not, where permitted, withdrawn) by not later than
As valid acceptances of the Offer, representing only approximately 54.6 per cent. of the Petroceltic Shares Affected were received by the closing date and time, the acceptance condition has not been satisfied and the Offer has lapsed.
Accordingly, the Offer is no longer capable of further acceptance and accepting Petroceltic Shareholders and Sunny Hill have ceased to be bound by acceptances made and received before the closing date and time.
Return of acceptances
In accordance with the terms of the Offer, (i) in the case of Petroceltic Shares held in certificated form, completed Forms of Acceptance, share certificates and/or other documents of title will be returned, by post, within 14 calendar days, in each case, to the person or agent whose name and address is set out in Box 1 of the relevant Form of Acceptance at the risk of the person or agent concerned; and (ii) in the case of Petroceltic Shares held in uncertificated form, the Receiving Agent will as soon as reasonably practicable give TFE instructions to Euroclear to transfer all relevant Petroceltic Shares held in the escrow balance and in relation to which it is the escrow agent for the purposes of the Offer to the original available balances of the Petroceltic Shareholders concerned.
Enquiries:
| Tel: +44 (0)20 7796 4133 |
| |
(Joint Financial Adviser to Sunny Hill and Worldview) | Tel: +44 (0)20 7409 3494 |
| |
(Joint Financial Adviser to Sunny Hill and Worldview) | Tel: +44 (0)20 7907 8500 |
| |
(PR Advisers to Sunny Hill and Worldview) | Tel: +44 (0)20 7796 4133
|
The directors of Sunny Hill accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of Sunny Hill (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.
The directors of Worldview accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of Worldview (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.
General
This announcement is not intended to, and does not, constitute or form part of (i) any offer (including the Offer) or invitation to purchase or otherwise acquire, subscribe for, tender, exchange, sell or otherwise dispose of any securities, (ii) the solicitation of any offer (including the Offer) or invitation to purchase or otherwise acquire, subscribe for, tender, exchange, sell or otherwise dispose of any securities or (iii) the solicitation of any vote or approval in any jurisdiction in respect of any offer (including the Offer) or otherwise.
The distribution of this announcement in or into certain jurisdictions may be restricted by the laws of those jurisdictions. Accordingly, copies of this announcement and all other documents relating to the Offer are not being, and must not be, mailed or otherwise forwarded, distributed or sent in, into or from any Restricted Jurisdiction. Persons receiving such documents (including, without limitation, nominees, trustees and custodians) should observe these restrictions. Failure to do so may constitute a violation of the securities laws of any such jurisdiction.
This announcement has been prepared for the purposes of complying with Irish law, the Irish Takeover Rules, the AIM Rules, the ESM Rules and all other applicable rules and regulations of the
This information is provided by RNS
Quick facts: Petroceltic International PLC
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Market: AIM
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