TIDMCNKS TIDMFCAP
RNS Number : 0026H
Cenkos Securities PLC
24 July 2023
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
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
24 July 2023
RECOMMED ALL-SHARE MERGER
of
Cenkos SECURITIES PLC
and
finncap GROUP PLC
to be effected by way of a scheme of arrangement under Part 26
of the Companies Act 2006
INTERIM DIVID DECLARATION AND UPDATED SCHEME TIMETABLE
On 23 March 2023, the board of Cenkos Securities plc ("Cenkos")
and the board of finnCap Group plc ("finnCap") announced that they
had reached agreement on the terms and conditions of a recommended
all-share merger between Cenkos and finnCap (the "Merger"), to be
effected by means of a court-sanctioned scheme of arrangement under
Part 26 of the Companies Act 2006 (the "Scheme").
The Merger and, accordingly, the Scheme are subject to the
Conditions set out in Part 3 of the scheme document published by
Cenkos on 20 April 2023 in connection with the Scheme (the "Scheme
Document"). The finnCap and Cenkos Boards announced on 18 July 2023
that notice was received from the Financial Conduct Authority
providing the requisite regulatory approval in respect of the
change in control of Cenkos upon completion of the Merger.
Accordingly, the regulatory condition to the Scheme set out in
paragraph 5 of Section 1 of Part 3 of the Scheme Document has now
been satisfied.
Further to their announcement on 18 July 2023, the finnCap and
Cenkos Boards are pleased to announce a n updated expected
timetable of principal events relating to the Scheme and the
Interim Dividend, as set out further below and in the Appendix to
this announcement.
Unless otherwise defined, all capitalised terms in this
announcement shall have the meanings given to them in the Scheme
Document.
Next steps
The Scheme remains subject to the satisfaction or (where
applicable) waiver of the remaining Conditions (as set out in Part
3 of the Scheme Document), including the Court sanctioning the
Scheme at the Scheme Sanction Hearing and the delivery of a copy of
the Court Order to the Registrar of Companies for registration. The
date of the Court Hearing to sanction the Scheme will be 5
September 2023.
An application will be made to the London Stock Exchange ("LSE")
for the suspension of the listing of Scheme Shares on AIM with
effect from 7.30 am on 7 September 2023.
An application will be made to the LSE in relation to the
cancellation of admission to trading of Scheme Shares on AIM,
which, subject to the Scheme becoming effective on 7 September
2023, is expected to take effect by 7.00 am on 8 September
2023.
An application will be made to the LSE for the New finnCap
Shares to be admitted to trading on AIM, subject to the Scheme
becoming Effective. It is expected that admission of the New
finnCap Shares will take place and dealings will commence at 8.00
a.m. on 8 September 2023.
Interim Dividend
As set out in the Scheme Document, the Cenkos Board intended to
formally declare the Interim Dividend after 30 June 2023, with such
Interim Dividend to be paid before the Effective Date. The Cenkos
Board is pleased to announce that it has today formally declared
the Interim Dividend. The Interim Dividend is due to be paid on 6
September 2023 to those Cenkos Shareholders who are on Cenkos'
register of members at the close of business on 11 August 2023.
Timetable
An updated expected timetable of principal events relating to
the Scheme and the Interim Dividend is set out in the Appendix to
this announcement. If any of these times and/or dates change, the
revised times and/or dates will be announced through a Regulatory
Information Service.
Other
All references to times in this announcement are to London time,
unless otherwise stated.
Enquiries:
finnCap
Tel: +44 (0)20 7220 0500
John Farrugia, Chief Executive Officer
investor.relations@finncap.com
Richard Snow, Chief Financial Officer
Henrik Persson, Strategic PLC Advisory
Cenkos Tel: +44 (0)207 397 8900
Lisa Gordon, Chair
Julian Morse, Chief Executive Officer
Ben Procter, Chief Financial Officer
Jeremy Osler, Head of Corporate Finance & General
Counsel
SPARK Advisory Partners Tel: +44 (0)203 368 3552
(Financial Adviser and Nominated Adviser to Cenkos)
Matt Davis/Adam Dawes
Grant Thornton (Nominated Adviser to finnCap) Tel: +44 (0)20
7383 5100
Philip Secrett/Samantha Harrison/George Grainger
Oberon Capital (Joint Broker to finnCap) Tel: +44 (0)20 3179
5344
Mike Seabrook
finnCap Ltd (Joint Broker to finnCap) Tel: +44 (0)20 7220
0500
Tim Redfern
Hudson Sandler (PR Adviser to finnCap)
Dan de Belder Tel: +44 (0)7977 927142
Rebekah Chapman Tel: +44 (0)7702 596674
The Nisse Consultancy (PR Adviser to Cenkos) Tel: +44 (0) 7769
688618
Travers Smith LLP is acting as legal adviser to finnCap and
Simmons & Simmons LLP is acting as legal adviser to Cenkos.
Inside information
This announcement contains certain inside information for the
purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Cenkos' and finnCap's obligations under Article 17 of MAR. For
the purposes of MAR, this announcement is being made on behalf of
Cenkos by Jeremy Osler, Head of Corporate Finance & General
Counsel and on behalf of finnCap by Richard Snow, Chief Financial
Officer.
Important notice about financial adviser
SPARK Advisory Partners Limited (" SPARK Advisory Partners "),
which is authorised and regulated in the United Kingdom by the
Financial Conduct Authority ("FCA"), is acting as financial adviser
to Cenkos and for no one else in connection with the Merger and
will not be responsible to anyone other than Cenkos for providing
the protections afforded to its clients nor for providing advice in
relation to the Merger, the contents of this announcement or any
other matters referred to in this announcement.
Grant Thornton UK LLP ("Grant Thornton") is authorised and
regulated in the United Kingdom by the FCA and is acting as
nominated adviser for finnCap and no one else in connection with
the Merger and will not regard any other person as its client in
relation to the Merger and will not be responsible to anyone other
than finnCap for providing the protections afforded to clients of
Grant Thornton or for providing advice in relation to the Merger,
the contents of this announcement or any other matters referred to
in this announcement.
Further information
This announcement is for information purposes only and is not
intended to, and does not, constitute or form part of any offer or
inducement to sell or an invitation to purchase, otherwise acquire,
subscribe for, sell or otherwise dispose of, any securities or a
solicitation of an offer to buy any securities, any vote or
approval in any jurisdiction pursuant to the Merger or otherwise,
nor shall there be any purchase, sale, issuance or exchange of
securities or such solicitation in any jurisdiction in which such
offer, solicitation, sale issuance or exchange is unlawful. The
Merger will be implemented solely pursuant to the Scheme Document,
which contains the full terms and conditions of the Merger,
including details of how to vote in respect of the Merger. Any
decision in respect of, or other response to, the Merger should be
made only on the basis of the information in the Scheme Document
and the finnCap Circular.
This announcement does not constitute a prospectus, prospectus
equivalent document or an exempted document.
Overseas jurisdictions
This announcement has been prepared in connection with proposals
in relation to a scheme of arrangement pursuant to and for the
purpose of complying with English law, the AIM Rules, the Takeover
Code, the Market Abuse Regulation (EU 596/2014) (which is part of
UK law by virtue of the European Union (Withdrawal) Act 2018) and
the Disclosure Guidance and Transparency Rules and information
disclosed may not be the same as that which would have been
disclosed if this announcement had been prepared in accordance with
the laws of jurisdictions outside England and Wales. Nothing in
this announcement should be relied on for any other purpose.
The release, publication or distribution of this announcement in
or into certain jurisdictions other than the United Kingdom may be
restricted by the laws of those jurisdictions and therefore any
persons into whose possession this announcement comes should inform
themselves of, and observe, such restrictions. In particular the
ability of persons who are not resident in the United Kingdom to
vote their Cenkos Shares at the Court Meeting or General Meeting,
or to appoint another person as proxy to vote at the Court Meeting
or General Meeting on their behalf, may be affected by the laws of
the relevant jurisdictions in which they are located. Further
details in relation to the Overseas Shareholders are contained in
the Scheme Document. Any failure to comply with any such
restrictions may constitute a violation of the securities laws of
any such jurisdiction. To the fullest extent permitted by
applicable law, the companies and persons involved in the Merger
disclaim any responsibility or liability for the violation of such
restrictions by any person.
Unless otherwise determined by finnCap or required by the
Takeover Code, and permitted by applicable law and regulation, New
finnCap Shares to be issued pursuant to the Merger shall not be
made available, directly or indirectly, in, into or from a
Restricted Jurisdiction where to do so would violate the laws in
that jurisdiction and no person may vote in favour of the Scheme by
any such means from within a Restricted Jurisdiction or any other
jurisdiction if to do so would constitute a violation of the laws
of that jurisdiction and no person may vote in favour of the Merger
by use of mail or any other means of instrumentality (including,
without limitation, facsimile, email or other electronic
transmission, telex or telephone) of interstate or foreign commerce
of, or any facility of a national, state or other securities
exchange of, any Restricted Jurisdiction.
Accordingly, copies of this announcement and all documents
relating to the Merger are not being, and must not be, directly or
indirectly, mailed or otherwise forwarded, distributed or sent in,
into or from a Restricted Jurisdiction where to do so would violate
the laws in that jurisdiction, and persons receiving this
announcement and all documents relating to the Merger (including
custodians, nominees and trustees) must not mail or otherwise
distribute or send them in, into or from such jurisdictions where
to do so would violate the laws in that jurisdiction. Doing so may
render invalid any related purported vote in respect of the Merger.
If the Merger is implemented by way of a Takeover Offer (unless
otherwise permitted by applicable law or regulation), such Takeover
Offer may not be made, directly or indirectly, in or into, or by
use of mail or any other means or instrumentality (including,
without limitation, facsimile, email or other electronic
transmission, telex or telephone) of interstate or foreign commerce
of, or any facility of a national, state or other securities
exchange of, any Restricted Jurisdiction and such Takeover Offer
will not be capable of acceptance by any such use, means,
instrumentality or facilities from within any Restricted
Jurisdiction.
The availability of New finnCap Shares pursuant to the Merger to
Cenkos Shareholders who are not resident in the United Kingdom may
be affected by the laws of the relevant jurisdictions in which they
are resident. Persons who are not resident in the United Kingdom
should inform themselves of, and observe, any applicable
requirements. To the fullest extent permitted by applicable law,
the companies and persons involved in the Merger disclaim any
responsibility or liability for the violation of such restrictions
by any person.
Further details in relation to Cenkos Shareholders in overseas
jurisdictions are contained in the Scheme Document.
The Merger shall be subject to the applicable requirements of
the Takeover Code, the Panel, the London Stock Exchange, the AIM
Rules, the FCA and the Registrar of Companies.
Additional information for US investors
Cenkos Shareholders in the United States should note that the
Merger relates to the shares of an English company with a listing
on AIM and is proposed to be effected by means of a scheme of
arrangement under English law. This announcement, the Scheme
Document and certain other documents relating to the Merger have
been or will be prepared in accordance with English law, the
Takeover Code and UK disclosure requirements, format and style, all
of which differ from those in the United States. A transaction
effected by means of a scheme of arrangement is not subject to the
tender offer rules or the proxy solicitation rules under the US
Exchange Act. Accordingly, the Merger is subject to the disclosure
requirements of and practices applicable in the United Kingdom to
schemes of arrangement, which differ from the disclosure
requirements of the United States tender offer and proxy
solicitation rules. If, in the future, finnCap exercises the right
to implement the Merger by way of a Takeover Offer and determines
to extend such Takeover Offer into the United States, any such
Takeover Offer will be made in compliance with applicable United
States laws and regulations, including any applicable exemptions
under the US Exchange Act and the US Securities Act.
Cenkos' financial statements, and all financial information
included in this announcement, the Scheme Document or any other
documents relating to the Merger, have been or will be prepared in
accordance with IFRS and may not be comparable to financial
statements of companies in the United States or other companies
whose financial statements are prepared in accordance with US
generally accepted accounting principles.
Each Cenkos Shareholder is urged to consult their independent
professional adviser immediately regarding the tax consequences of
the Merger applicable to them.
It may be difficult for US holders to enforce their rights and
claims arising out of the US federal securities laws, since finnCap
and Cenkos are located in countries other than the United States,
and some or all of their officers and directors may be residents of
countries other than the United States. US holders may not be able
to sue a non-US company or its officers or directors in a non-US
court for violations of US securities laws. Further, it may be
difficult to compel a non-US company and its affiliates to subject
themselves to a US court's judgement.
The Merger is intended to be implemented pursuant to a scheme of
arrangement under the laws of England, the New finnCap Shares to be
issued as part of the Merger will be issued in reliance on the
exemption from the registration requirements of the US Securities
Act provided by Section 3(a)(10) thereof. Cenkos will advise the
Court that its sanction of the scheme of arrangement will be relied
upon by finnCap and Cenkos as an approval of the scheme of
arrangement following a hearing on its fairness to Cenkos
Shareholders at which hearing all such shareholders are entitled to
attend in person or through counsel to support or oppose the
sanctioning of the scheme of arrangement and in respect of which
notification has been given to all Cenkos Shareholders.
In accordance with normal UK practice and consistent with Rule
14e-5(b) of the US Exchange Act, (to the extent applicable)
finnCap, certain affiliated companies and their nominees or brokers
(acting as agents) may make certain purchases of, or arrangements
to purchase, shares in Cenkos outside of the United States, other
than pursuant to the Merger, until the date on which the Merger
and/or Scheme becomes Effective, lapses or is otherwise withdrawn.
If such purchases or arrangements to purchase were to be made they
would occur either in the open market at prevailing prices or in
private transactions at negotiated prices and comply with
applicable law, including the US Exchange Act. Any information
about such purchases or arrangements to purchase will be disclosed
as required in the United Kingdom, will be reported to a Regulatory
Information Service and will be available on the London Stock
Exchange website at www.londonstockexchange.com .
Neither the United States Securities and Exchange Commission nor
any US state securities commission has approved or disapproved the
Merger, passed upon the merits or fairness of the Merger or passed
any opinion upon the accuracy, adequacy or completeness of this
announcement (nor will it do so in respect of the Scheme Document).
Any representation to the contrary is a criminal offence in the
United States.
Forward looking statements
This announcement (including information incorporated by
reference in this announcement), oral statements made regarding the
Merger, and other information published by finnCap, Cenkos, any
member of the Wider finnCap Group or any member of the Wider Cenkos
Group may contain statements which are, or may be deemed to be,
"forward looking statements". Forward looking statements are
prospective in nature and are not based on historical facts, but
rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward looking statements.
The forward looking statements contained in this announcement
include statements relating to the expected effects of the Merger
on finnCap, Cenkos, any member of the Wider finnCap Group or any
member of the Wider Cenkos Group (including their future prospects,
developments and strategies), the expected timing and scope of the
Merger and other statements other than historical facts. Often, but
not always, forward looking statements can be identified by the use
of forward looking words such as "prepares", "plans", "expects" or
"does not expect", "is expected", "is subject to", "budget",
"projects", "synergy", "strategy", "scheduled", "goal",
"estimates", "forecasts", "intends", "cost-saving", "intends",
"anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "should", "would",
"might" or "will" be taken, occur or be achieved. Forward looking
statements may include statements relating to the following: (i)
future capital expenditures, expenses, revenues, earnings,
synergies, economic performance, indebtedness, financial condition,
dividend policy, losses and future prospects; (ii) business and
management strategies and the expansion and growth of finnCap's,
Cenkos', any member of the Wider finnCap Group's or any member of
the Wider Cenkos Group's operations and potential synergies
resulting from the Merger; and (iii) the effects of global economic
conditions and governmental regulation on finnCap's, Cenkos', any
member of the Wider finnCap Group's or any member of the Wider
Cenkos Group's business.
Although finnCap and Cenkos believe that the expectations
reflected in such forward looking statements are reasonable,
finnCap, Cenkos, the Wider finnCap Group and the Wider Cenkos Group
can give no assurance that such expectations will prove to be
correct. By their nature, forward looking statements involve risk
and uncertainty because they relate to events and depend on
circumstances that will occur in the future. There are a number of
factors that could cause actual results and developments to differ
materially from those expressed or implied by such forward looking
statements.
These factors include, but are not limited to: the ability to
complete the Merger; the ability to obtain requisite regulatory and
shareholder approvals and the satisfaction of other Conditions;
changes in the global political, economic, business and competitive
environments and in market and regulatory forces; changes in future
exchange and interest rates; changes in tax rates; future business
combinations or disposals; changes in general economic and business
conditions; changes in the behaviour of other market participants;
the anticipated benefits from the proposed transaction not being
realised as a result of changes in general economic and market
conditions in the countries in which finnCap, Cenkos, the Wider
finnCap Group and/or the Wider Cenkos Group operate; weak, volatile
or illiquid capital and/or credit markets; changes in the degree of
competition in the geographic and business areas in which finnCap,
Cenkos, the Wider finnCap Group and/or the Wider Cenkos Group
operate; and changes in laws or in supervisory expectations or
requirements. Other unknown or unpredictable factors could cause
actual results to differ materially from those expected, estimated
or projected in the forward looking statements. If any one or more
of these risks or uncertainties materialises or if any one or more
of the assumptions proves incorrect, actual results may differ
materially from those expected, estimated or projected. Such
forward looking statements should therefore be construed in the
light of such factors.
Neither finnCap, Cenkos, the Wider finnCap Group nor the Wider
Cenkos Group, nor any of their respective associates or directors,
officers or advisers, provide any representation, assurance or
guarantee that the occurrence of the events expressed or implied in
any forward looking statements in this announcement will actually
occur. Given these risks and uncertainties, potential investors are
cautioned not to place any reliance on these forward looking
statements.
Specifically, statements of estimated cost savings and synergies
related to future actions and circumstances which, by their nature,
involve risks, uncertainties and contingencies. As a result, the
cost savings and synergies referred to may not be achieved, may be
achieved later or sooner than estimated, or those achieved could be
materially different from those estimated.
Other than in accordance with their legal or regulatory
obligations, neither finnCap, Cenkos, the Wider finnCap Group nor
the Wider Cenkos Group is under any obligation, and each such
person expressly disclaims any intention or obligation to update or
revise any forward looking statements, whether as a result of new
information, future events or otherwise.
Publication on website
A copy of this announcement and the documents required to be
published pursuant to Rule 26.1 of the Takeover Code will be
available, free of charge, subject to certain restrictions relating
to persons resident in Restricted Jurisdictions on Cenkos' website
at www.cenkos.com/investors and finnCap's website at
https://announcements.finncap.com/merger/ by no later than 12.00
p.m. on the Business Day following this announcement. For the
avoidance of doubt, neither the content of Cenkos' website nor
finnCap's website is incorporated into, or forms part of, this
announcement.
Information relating to Cenkos Shareholders
Please be aware that addresses, electronic addresses and certain
information provided by Cenkos Shareholders, persons with
information rights and other relevant persons for the receipt of
communications from Cenkos may be provided to finnCap during the
Offer Period as required under Section 4 of Appendix 4 of the
Takeover Code to comply with Rule 2.11(c) of the Takeover Code.
Right to receive documents in hard copy form
Any person entitled to receive a copy of documents,
announcements and information relating to the Merger is entitled to
receive such documents in hard copy form free of charge. For
persons who receive a copy of this announcement in electronic form
or via a website notification, a hard copy of this announcement
will not be sent unless so requested. A person may request that all
future documents, announcements and information in relation to the
Merger are sent to them in hard copy form.
In accordance with Rule 30.3 of the Takeover Code, Cenkos
Shareholders, persons with information rights and participants in
Cenkos Share Plans may request a hard copy of this announcement by
contacting, Link Asset Services, Cenkos' Registrars on 0371 664
0321 (or +44 371 664 0321 if calling from outside the UK). Calls
are charged at the standard geographic rate and will vary by
provider. Calls outside the United Kingdom will be charged at the
applicable international rate.
Disclosure requirements of the Takeover Code
Under Rule 8.3(a) of the Takeover Code, any person who is
interested in 1% or more of any class of relevant securities of an
offeree company or of any securities exchange offeror (being any
offeror other than an offeror in respect of which it has been
announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement
of the offer period and, if later, following the announcement in
which any securities exchange offeror is first identified. An
Opening Position Disclosure must contain details of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
securities exchange offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) applies must be made by no later than
3.30 pm (London time) on the 10(th) business day following the
commencement of the offer period and, if appropriate, by no later
than 3.30 pm (London time) on the 10(th) business day following the
announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of
the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Takeover Code, any person who is, or
becomes, interested in 1% or more of any class of relevant
securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the
dealing concerned and of the person's interests and short positions
in, and rights to subscribe for, any relevant securities of each of
(i) the offeree company and (ii) any securities exchange
offeror(s), save to the extent that these details have previously
been disclosed under Rule 8. A Dealing Disclosure by a person to
whom Rule 8.3(b) applies must be made by no later than 3.30 pm
(London time) on the business day following the date of the
relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk ,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
General
If you are in any doubt about the contents of this announcement
or the action you should take, you are recommended to seek your own
independent financial advice immediately from your stockbroker,
bank manager, solicitor or independent financial adviser duly
authorised under FSMA if you are resident in the United Kingdom or,
if not, from another appropriate authorised independent financial
adviser.
APPENDIX
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Event Expected time/date
---------------------------------------- -----------------------------------
The following dates are indicative only and are based on
the current expectations of the Cenkos Directors and the
finnCap Directors and may be subject to change; please see
note (1) below.
Event Expected time/date
---------------------------------------- -----------------------------------
Cenkos Interim Dividend marked 10 August 2023
'Ex dividend'
-------------------------------------
Cenkos Interim Dividend record 11 August 2023
date
-------------------------------------
Scheme Sanction Hearing 5 September 2023 (1)
-------------------------------------
Cenkos Interim Dividend payment 6 September 2023
date
-------------------------------------
Last day of dealings in, and 6 September 2023
for registration of transfers
of, and disablement of CREST
for, Cenkos Shares
-------------------------------------
Scheme Record Time 6.00 pm on 6 September 2023
-------------------------------------
Suspension of dealings in 7.30 am on 7 September 2023
Cenkos Shares
-------------------------------------
Effective Date of the Scheme 7 September 2023(2)
-------------------------------------
Cancellation of admission 7.00 am on 8 September 2023
of Cenkos Shares to trading
on AIM
-------------------------------------
Admission and commencement 8.00 am on 8 September 2023
of dealings of the New finnCap
Shares on AIM
-------------------------------------
Issuance of New finnCap Shares 8 September 2023
-------------------------------------
CREST accounts of Cenkos Shareholders at or soon after 8.00 am on 8
credited with New finnCap September 2023
Shares
-------------------------------------
Despatch of share certificates within 14 days after the Effective
for the New finnCap Shares Date
-------------------------------------
Long Stop Date 11.59 pm on 31 December 2023
(3)
-------------------------------------
Notes:
(1) The time of the Scheme Court Hearing, the number of the
Court and the name of the Judge will be available on the Business
and Property Court Rolls Building Cause List at www.justice .g
ov.uk on the day before the Scheme Sanction Hearing.
(2) The Scheme will become effective pursuant to the terms of
the Court Order being delivered to the Registrar of Companies.
(3) This is the latest date by which the Scheme may become
Effective unless Cenkos and finnCap agree (and, if required, the
Panel consents to and the Court approves) a later date.
All references in this document to times are to London time
unless otherwise stated. The dates and times given are indicative
only and are based on Cenkos' and finnCap's current expectations
and may be subject to change (including as a result of changes to
the regulatory timetable). If any of the expected times and/or
dates above change, the revised times and/or dates will be notified
to finnCap and Cenkos Shareholders by announcement through a
Regulatory Information Service.
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END
DIVKZGZNFDDGFZM
(END) Dow Jones Newswires
July 24, 2023 10:00 ET (14:00 GMT)
Finncap (LSE:FCAP)
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Finncap (LSE:FCAP)
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