CIP Merchant Capital Ltd Publication of Final Response Circular (1257G)
25 Marzo 2022 - 10:15AM
UK Regulatory
TIDMCIP
RNS Number : 1257G
CIP Merchant Capital Ltd
25 March 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
(INCLUDING THE UNITED STATES) WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION .
For immediate release
25 March 2022
CIP MERCHANT CAPITAL LIMITED
("CIP" or the "Company")
Publication of Final Response Circular Rejecting CFE's Final
Offer
The Board of CIP (the "Board"), further to the Company's
announcement of 23 March 2022, announces that it is today posting
its final response circular (the "Final Response Circular") to
Shareholders in respect of the hostile, final, mandatory cash offer
by Corporation Financière Européenne S.A. ("CFE") for the Ordinary
Shares in CIP not already held by CFE (or any persons acting in
concert with it) at a price of 60 pence per Ordinary Share.
The Board strongly and unanimously believes that the Final Offer
remains a highly opportunistic offer, which significantly
undervalues CIP's current investment portfolio and the Company as a
whole, such that it does not reflect an appropriate value for
independent Shareholders .
TO REJECT THE FINAL OFFER, SHAREHOLDERS NEED TAKE NO ACTION -
SIMPLY DO NOT RETURN CFE'S FORM OF ACCEPTANCE OR TAKE ANY ACTION IN
CREST .
The Final Response Circular and related display documents will
be made available on the Company's website at:
www.cipmerchantcapital.com .
Unless otherwise defined, terms used in this announcement shall
have the same meanings as those set out in the Final Response
Circular.
Enquiries :
CIP Merchant Capital Limited
Wikus van Schalkwyk +44 1481 749363
Strand Hanson Limited
(Financial & Nominated Adviser and Broker)
Stuart Faulkner / Matthew Chandler / James Bellman
/ Rob Patrick +44 20 7409 3494
Additional information
The information contained in this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 (which applies in the United Kingdom
by operation of the European Union (Withdrawal) Act 2018 (as
amended)). The person responsible for arranging release of this
announcement on behalf of CIP is Adrian Collins.
Strand Hanson Limited ("Strand Hanson"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority,
is acting exclusively as financial adviser, nominated adviser and
broker to CIP and no-one else in relation to the Final Offer and/or
other matters described in this announcement and will not be
responsible to anyone other than CIP for providing the protections
afforded to clients of Strand Hanson nor for providing advice in
relation to the Final Offer, the contents of this announcement or
any other matter referred to herein. Neither Strand Hanson nor any
of its subsidiaries, branches or affiliates owes or accepts any
duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise)
to any person who is not a client of Strand Hanson in connection
with the Final Offer, this announcement, any statement contained
herein or otherwise.
Publication on a website
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be made available on CIP's website at:
www.cipmerchantcapital.com (subject to certain restrictions
relating to persons resident in restricted jurisdictions) by no
later than 12 noon (London time) on 28 March 2022. For the
avoidance of doubt, the content of the website referred to in this
announcement is not incorporated into and does not form part of
this announcement.
Availability of hard copies
Shareholders may request hard copies of any document published
on the Company's website in connection with the Final Offer by
contacting the Company's registrar at: Computershare Investor
Services (Guernsey) Limited, 13 Castle Street, St Helier, Jersey
JE1 1ES (telephone number: +44 (0)370 707 4040 or email:
info@computershare.co.je) . Shareholders may also request that all
future documents, announcements and information to be sent to them
in relation to the Final Offer should be in hard copy form.
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END
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