TIDMMMX
RNS Number : 8268N
Minds + Machines Group Limited
04 October 2021
For immediate release: 4(th) October 2021
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
Result of Tender Offer
Further to the announcement made on 10 September 2021, Minds +
Machines Group Limited (AIM: MMX) is pleased to announce the
results of its Tender Offer. The Tender Offer closed at 1.00pm on 1
October 2021.
The Company confirms the Tender Offer was fully subscribed and
604,166,667 Ordinary Shares will be purchased at a price of 9.6
pence per Ordinary Share, for an aggregate consideration of GBP58
million. Tenders for up to and including the Tender Offer
Entitlement of 1 Ordinary Share for every 1.45 Ordinary Shares held
by a shareholder will be met in full representing approximately
96.72% of the Ordinary Shares being purchased by the Company. The
remaining 3.28% of the Ordinary Shares being bought back under the
Tender Offer, will be purchased on the basis of 1 Ordinary Share
for every 38.6 Ordinary Shares tendered, pursuant to demand for
Excess Shares by Eligible Shareholders. The Ordinary Shares to be
purchased under the Tender Offer represent approximately 69.01% of
the current Ordinary Shares in issue.
All of the 604,166,667 Ordinary Shares being bought back will be
cancelled by the Company.
Cheques will be dispatched for certificated Ordinary Shares
purchased pursuant to the Tender Offer and payment will be made
through CREST for uncertificated Ordinary Shares purchased pursuant
to the Tender Offer, in each case, by 11 October 2021.
Total Voting Rights
With effect from 11 October 2021, the total number of
exercisable voting rights in the Company will reduce from
875,483,008 to 271,316,341. This figure may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the Company.
Director shareholdings
With effect from 11 October 2021, the Directors of the Company
and their connected persons will have the following shareholdings
in the Company:
Director Shareholding Ordinary Shares Shareholding % of revised
pre- Tender tendered post-Tender issued share
Offer Offer capital held
post Tender
Offer and Subscription
Guy Elliot 23,850,000 17,067,112 6,782,888 2.50
------------- ---------------- ------------- ------------------------
Tony Farrow 750,000 536,701 213,299 0.08
------------- ---------------- ------------- ------------------------
Bryan Disher - - - -
------------- ---------------- ------------- ------------------------
Henry Turcan* 132,789,130 94,773,245 38,015,885 14.01
------------- ---------------- ------------- ------------------------
* Mr Turcan is a representative of Lombard Odier Asset
Management Europe Limited ("LOAME"), which in its capacity as
discretionary investment manager for certain funds and accounts
holding in aggregate 132,199,564 Ordinary Shares has committed
(subject to there being no legal restrictions on such party dealing
at such time) to tender not less than its pro rata Tender
Entitlement as set out above.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
circular to shareholders dated 10 September 2021 and available on
the Company's website www.mmx.co .
Further Information:
Minds + Machines Group Limited
Tony Farrow (CEO) via Belvedere Communications
Bryan Disher (CFO) Limited
finnCap Ltd Tel: +44 (0) 20 7220
0500
Corporate finance - Stuart Andrews /
Carl Holmes / Simon Hicks
Corporate broking - Tim Redfern / Richard
Chambers
Belvedere Communications Limited Tel: +44 (0) 20 3687
John West 2756
Llew Angus
For further information, please go to www.mmx.co
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Guy Elliott
------------------------------- ------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position/status Non-Executive Chairman
------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Minds + Machines Group Limited
------------------------------- ------------------------------------
b) LEI 2138008VAFDJAYYYNP95
------------------------------- ------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the Ordinary Shares
Financial instrument,
type of instrument
Identification code VGG614091012
------------------------------- ------------------------------------
b) Nature of the transaction Disposal of Ordinary Shares under
the Tender Offer
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
9.6p 17,067,112
-----------
------------------------------- ------------------------------------
d) Aggregated information: Tender Offer of 17,067,112 Ordinary
* Aggregated volume Shares at a price of 9.6 pence per
Ordinary Share
* Price
------------------------------- ------------------------------------
e) Date of the transaction 1 October 2021
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
5. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tony Farrow
------------------------------- ----------------------------------------
6. Reason for the Notification
-------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ----------------------------------------
7. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Minds + Machines Group Limited
------------------------------- ----------------------------------------
b) LEI 2138008VAFDJAYYYNP95
------------------------------- ----------------------------------------
8. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description of the Ordinary Shares
Financial instrument,
type of instrument
Identification code VGG614091012
------------------------------- ----------------------------------------
b) Nature of the transaction Disposal of Ordinary Shares under
the Tender Offer
------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
9.6p 536,701
----------
------------------------------- ----------------------------------------
d) Aggregated information: Tender Offer of 536,701 Ordinary Shares
* Aggregated volume at a price of 9.6 pence per Ordinary
Share
* Price
------------------------------- ----------------------------------------
e) Date of the transaction 1 October 2021
------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ----------------------------------------
9. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Lombard Odier Asset Management (Europe)
Limited
------------------------------- ----------------------------------------
10. Reason for the Notification
-------------------------------------------------------------------------
a) Position/status PCA of Henry Turcan, Non-Executive
Director
------------------------------- ----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ----------------------------------------
11. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Minds + Machines Group Limited
------------------------------- ----------------------------------------
b) LEI 2138008VAFDJAYYYNP95
------------------------------- ----------------------------------------
12. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description of the Ordinary Shares
Financial instrument,
type of instrument
Identification code VGG614091012
------------------------------- ----------------------------------------
b) Nature of the transaction Disposal of Ordinary Shares under
the Tender Offer
------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
9.6p 94,773,245
-----------
------------------------------- ----------------------------------------
d) Aggregated information: Tender Offer of 94,773,245 Ordinary
* Aggregated volume Shares at a price of 9.6 pence per
Ordinary Share
* Price
------------------------------- ----------------------------------------
e) Date of the transaction 1 October 2021
------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ----------------------------------------
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END
TENDKNBPFBDDNKK
(END) Dow Jones Newswires
October 04, 2021 02:00 ET (06:00 GMT)
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