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Taihua Plc - Result of Tender Offer and Directors' Interests

RNS Number : 4823X
Taihua Plc
22 February 2017
 

22 February 2017

 

Taihua plc

("Taihua" or the "Company")

 

Result of Tender Offer and Directors' Interests

 

The Company today announces the results of the Tender Offer set out in the shareholder circular published by the Company on 6 February 2017 (the "Circular"). The Tender Offer closed at 1.00 p.m. on 20 February 2017.

 

Result of Tender Offer

 

Under the Tender Offer, 7,490,352 Shares were validly tendered and 7,490,352 Shares will be purchased at a price per Share of 3.28 pence, for an aggregate purchase price of £245,683.45. The Shares to be purchased under the Tender Offer represent approximately 7.16 per cent. of the Company's entire issued share capital.

 

It is anticipated that the proceeds payable under the Tender Offer to the Shareholders who hold their Shares in certificated form will be dispatched no later than 28 February 2017 in the form of a cheque. Those Shareholders who hold their Shares in uncertificated form will have their CREST accounts credited no later than 28 February 2017.

 

As set out in the Circular, the Shares will be purchased by Daniel Stewart & Company plc pursuant to the Tender Offer and the Company will purchase such Ordinary Shares from them under the terms of the Repurchase Agreement as described in the Circular. The Shares will be acquired into Treasury, and further announcements will be made in due course. The Company intends to ultimately cancel the Shares purchased by it under the Repurchase Agreement. Further announcements will be made in due course.

 

Directors' Interests

 

The Directors' participation in the Tender Offer is set out below:

 


Number of Ordinary Shares prior to the Tender Offer

Percentage of issued share capital prior to the Tender Offer

Number of Ordinary Shares sold under the Tender Offer at 200p per Ordinary Share

Number of Ordinary Shares following the Tender Offer

Percentage of issued ordinary share capital following cancellation of the Tender Offer shares

 

Nicholas Lyth

340,000

0.32

340,000

0

0

Yunwu Liu

11,008,650

10.52

0

11,008,650

11.33

Mingjian Yin

23,703,826

22.65

0

23,703,826

24.40

Chun Chai

5,504,325

5.26

0

5,504,325

5.67

Zhaoyang Ma

0

0

0

0

0

Chong Cao

0

0

0

0

0

 

Capitalised terms used in this announcement have the same meanings given to them in the Circular.

 

Enquiries:

 

Nicholas Lyth, Taihua plc                                            0776 990 6686

Katy Mitchell, WH Ireland Limited                               +44 161 832 2174


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Quick facts: Taihua plc

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Market: AIM
Market Cap: -
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