Result of Tender Offer (4089F)
26 Abril 2011 - 1:00AM
UK Regulatory
TIDMCHNS
RNS Number : 4089F
China Shoto plc
26 April 2011
China Shoto plc ("China Shoto" or "the Company")
Result of Tender Offer
The Board of China Shoto is pleased to announce the result of
the Tender Offer referred to in the circular sent to Shareholders
of the Company dated 30 March 2011. This Tender Offer closed on 20
April 2011 in accordance with its timetable.
A total of 6,892,522 Ordinary Shares were validly tendered
pursuant to the Tender Offer, representing approximately 29.53 per
cent. of the current issued share capital and approximately 86.60
per cent. of the Tender Offer Shares.
The Tender Offer will be effected by Seymour Pierce Limited
purchasing the Ordinary Shares as principal and then selling such
Ordinary Shares on AIM to the Company for cancellation pursuant to
the Repurchase Agreement. Following completion of the Tender Offer
and cancellation of the Ordinary Shares, the Company will have a
total of 16,451,248 Ordinary Shares in issue.
As of 29 March 2011, immediately prior to the announcement of
the Tender Offer, the Directors beneficially owned or were
interested in an aggregate of 15,384,615 Ordinary Shares. In
accordance with their undertaking not to accept, or procure the
acceptance of, the Tender Offer in respect of the 15,384,615
Ordinary Shares beneficially owned by them, the resultant
shareholdings of the Directors are as follows:
Director Prior to Tender Offer On Completion of Tender Offer
Percentage of
Issued Share
Percentage of Capital
Number of Existing Number of following
Ordinary Issued Share Ordinary Completion of
Shares Capital Shares Tender Offer
Yang Shanji 12,923,076 55.36% 12,923,076 78.55%
Qian Shangao 615,385 2.64% 615,385 3.74%
Zhou Yuezhang 615,385 2.64% 615,385 3.74%
Zhou Ping 307,692 1.32% 307,692 1.87%
Zhou Weigang 307,692 1.32% 307,692 1.87%
Zhu Shiping 615,385 2.64% 615,385 3.74%
It is anticipated that CREST accounts will be credited with, and
cheques despatched for, the Tender Offer proceeds and the final
dividend for the year ended 31 December 2010 on 4 May 2011.
As previously announced, the proposed cancellation of admission
of the Ordinary Shares to trading on AIM and the Repurchase are
subject to shareholder approval at an Annual General Meeting on 26
April 2011, notice of which was sent to shareholders on 30 March
2011. Subject to Shareholder approval, cancellation is to become
effective from 07:00 a.m. on 5 May 2011.
Terms defined in the circular have the same meanings in this
announcement.
26 April 2011
For further information:
China Shoto plc Tel: +44 (0) 20 7242 2666 / +86
Yang Shanji, Executive Chairman 159 6108 0515
www.chinashoto.com
Seymour Pierce Limited Tel: +44 (0) 20 7107 8000
Stewart Dickson/ David Foreman www.seymourpierce.com
Media enquiries: Tel: +44 (0) 20 7242 2666 / +852
Allan Piper/ Jiang Lei 2854 2666
lei@firstcitypr.com www.firstcitypr.cn
This information is provided by RNS
The company news service from the London Stock Exchange
END
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