Alternative Liquidity Solutions Ltd Update on proposed Placing (3184Q)
05 Noviembre 2012 - 4:18AM
UK Regulatory
TIDMALSL
RNS Number : 3184Q
Alternative Liquidity Solutions Ltd
05 November 2012
For Immediate Release 5 November 2012
Alternative Liquidity Solutions Limited
Update on proposed Placing
Further to the announcement made on 2 November 2012 regarding
the outcome of the proposed Placing, the Board of Alternative
Liquidity Solutions Limited
(the "Company") met earlier today to review the options for the
Company. The Board has concluded that there is no realistic
prospect of raising sufficient new share capital by 31 December
2012 to give the Company the required critical mass.
The consequences of this decision are as follows:
1. The Company's existing Ordinary Shares will automatically be
converted into Run-Off Shares with effect from 6 November 2012. The
Run-Off Shares are not listed; and
2. The Company will make an application for the Company's
Ordinary Shares to be delisted from the Official List and their
admission to trading on the Main Market of the London Stock
Exchange cancelled. It is expected that delisting and cancellation
will take effect on or around 3 December 2012.
The return of cash to Run-Off Shareholders will be effected
through compulsory redemption of Run-Off Shares on a pro rata basis
and it is anticipated that the first redemption of a proportion of
the Run-Off Shares will occur by 30 November 2012.
In the case of Run-Off Shares held in uncertificated form (that
is, in CREST) redemptions will take effect automatically on each
Redemption Date. The existing ISIN (QQ00B7C4YN97) will be disabled
and a new ISIN will be applied to the remaining Run-Off Shares that
have not been compulsorily redeemed. The Company will announce the
new ISIN through a Regulatory Information Service provider. It is
expected that the proceeds of the redemption will be paid through
CREST within five Business Days of the relevant Redemption
Date.
In the case of Run-Off Shares held in certificated form (that
is, not in CREST), redemptions will take effect automatically on
each Redemption Date. It is expected that the proceeds of
redemption will be paid by cheque (at the recipient's risk) within
five Business Days of the relevant Redemption Date. Run-Off
Shareholders will be paid their redemption proceeds in
Sterling.
All Run-Off Shares that are redeemed will be cancelled with
effect from the relevant Redemption Date.
Enquiries:
Saltus Partners LLP 020 7499 0200
Jon Macintosh
Canaccord Genuity Limited 020 7523 8000
David Yovichic
This information is provided by RNS
The company news service from the London Stock Exchange
END
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