TIDMRCAP
RNS Number : 0851R
Ricmore Capital PLC
13 August 2010
FOR IMMEDIATE RELEASE
13 August 2010
RICMORE CAPITAL PLC
("Ricmore Capital" or "the Company")
Result of AGM
Change of name to Vipera Plc
Information on the Concert Party
Website Address under AIM Rule 26
The Company is pleased to announce that at the Annual General Meeting held
earlier today (the "AGM"), all Resolutions, as detailed in the circular to
shareholders dated 21 July 2010 (the "Document"), were duly passed.
Resolution 6 in respect of the waiver of the obligations on the Concert Party
(or any member of it) to make a general offer to shareholders of the Company was
approved by Shareholders (all of whom are independent of the Concert Party) on a
poll.
Acquisition of Vipera GmbH and change of name
Accordingly, following the approvals at the AGM, the Company has, subject only
to Admission of the Enlarged Share Capital, completed the acquisition of Vipera
GmbH. Admission is expected to take place on Monday, 16 August 2010.
Shareholders approved the change of name to Vipera Plc and this change will be
effective from Admission (AIM: VIP)
Website Address
The website address at which the information required by Rule 26 will be
available is www.vipera.com and will be available from Admission.
Information on the Concert Party
Immediately on Admission, the Concert Party will hold 103,769,371 New Ordinary
Shares, representing 88.23 per cent. of the Enlarged Share Capital. If all the
Vendor Warrants held by members of the Concert Party are converted into New
Ordinary Shares at some stage in the future (and assuming that no other Warrants
are exercised), the Concert Party will increase its shareholding to 107,813,588
New Ordinary Shares, representing 88.62 per cent. of the Fully Enlarged Share
Capital.
Set out below is the current interest of each member of the Concert Party in the
Company's share capital as at Admission and as it will be immediately after (i)
issue of the Consideration Shares; and (ii) exercise in full of the Vendor
Warrants:
+----------------+----------+----------+-----------------+-----------------+-----------------+-----------+----------+-----------------+
| | Number | % of | Number | % of | Vendor | Number | % of Fully Enlarged |
| | of | Vipera's | of New | Enlarged | Warrant** | of New | Share Capital*** |
| | Vipera | issued | Ordinary | Share | granted | Ordinary | |
| | Shares | share | Shares | Capital | over | Shares | |
| | held | capital | following | immediately | number of | assuming | |
| | as at | | issue of | on | New | all | |
| | the | | Consideration | Admission | Ordinary | Vendor | |
| | date | | Shares and | *** | Shares | Warrants | |
| | of the | | immediately | | | exercised | |
| | Document | | on Admission | | | | |
| | | | *** | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+-----------+----------------------------+
| Members of the | | | (post-Capital | (post-Capital | (post-Capital | (post-Capital | (post-Capital |
| Concert Party: | | | Reorganisation) | Reorganisation) | Reorganisation) | Reorganisation) | Reorganisation) |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Silvano | 2,453 | 23.63 | 24,494,959 | 20.83 | Nil | 24,494,959 | 20.13 |
| Maffeis | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Mobile World | 2,940 | 28.32 | 29,358,003 | 24.96 | 319,543 | 29,677,546 | 24.40 |
| Srl* | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Neby&Jahrmann | | | | | | | |
| Srl | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| (Petter Neby)* | 2,980 | 28.71 | 29,757,432 | 25.30 | 319,543 | 30,076,975 | 24.72 |
| | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Compagnia | | | | | | | |
| Fiduciaria: | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Nazionale SpA* | 379 | 3.65 | 3,784,586 | 3.22 | 319,543 | 4,104,129 | 3.37 |
| | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Roger | 557 | 5.37 | 5,562,043 | 4.73 | 1,098,430 | 6,660,473 | 5.47 |
| Mitchell* | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Angife Srl* | 223 | 2.15 | 2,226,815 | 1.89 | 319,543 | 2,546,358 | 2.09 |
| | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Luca Magnoni | 156 | 1.50 | 1,557,772 | 1.32 | Nil | 1,557,772 | 1.28 |
| | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Mario | 290 | 2.79 | 2,895,857 | 2.46 | 319,543 | 3,215,400 | 2.64 |
| Capocaccia* | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Andrea | 290 | 2.79 | 2,895,857 | 2.46 | 768,900 | 3,664,757 | 3.01 |
| Gambirasio* | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Wyche Bonnot | 112 | 1.08 | 1,118,400 | 0.95 | Nil | 1,118,400 | 0.92 |
| | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| John | Nil | Nil | 117,647 | 0.10 | 579,172 | 696,819 | 0.57 |
| Defterios* | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| Total | | 100.00 | 103,769,371 | 88.23 | 4,044,217 | 107,813,588 | 88.62 |
| 10,380 | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+----------------------+-----------------+
| | | | | | | | | |
+----------------+----------+----------+-----------------+-----------------+-----------------+-----------+----------+-----------------+
*Roger Mitchell, Andrea Gambirasio and John Defterios hold 110, 45 and 50 share
options respectively in Vipera which they will waive in consideration of
1,098,430, 449,357 and 499,286 Vendor Warrants respectively on Completion. In
addition, Mobile World Srl, Neby & Jahrmann Srl, Compagnia Fiduciaria Nazionale
SpA,Angife Srl, Mario Capocaccia and Andrea Gambirasio have all done likewise in
respect of 32 options in Vipera for 319,543 Vendor Warrants in Ricmore and John
Defterios has done likewise in respect of 8 options in Vipera for 79,886 Vendor
Warrants.
**On the assumption that the members of the Concert Party who hold Vendor
Warrants exercise all of the Vendor Warrants held by them in full and that no
other options or Warrants are exercised.The Vendor Warrants are exercisable at
3p per New Ordinary Share for 5 years and provide consideration for the
cancellation of options in Vipera.
*** The Fully Enlarged Share Capital and Enlarged Share Capital on Admission
includes the Placing Shares.
Rule 9 of the Takeover Code further provides, inter alia, that where any person,
together with persons acting in concert with him, holds more than 50 per cent.
of a company's voting share capital and acquires additional shares which carry
voting rights, then that person will not generally be required to make a general
offer to the other shareholders to acquire the balance of the shares not held by
that person or their concert parties. In addition, (for so long as they continue
to be treated as acting in concert) the members of a concert party may be
entitled to increase their aggregate shareholding without incurring any further
obligation under Rule 9 to make a general offer although individual members of
the Concert Party will not be able to increase their percentage shareholding
through a Rule 9 threshold without the consent of the Panel. The Concert Party
holds in excess of 50 per cent. of the voting rights of the Company.
Accordingly, Shareholders should be aware that the Concert Party may, for so
long as it holds over 50 per cent. of the voting rights of the Company, increase
its shareholding at a later date without incurring any further obligation under
Rule 9 to make a general offer, subject to the restrictions of individual
members of the Concert Party going through a Rule 9 threshold as referred to
above.
Contacts:
+--------------------+---------------------------------------------+
| Ricmore Capital | |
| PLC | |
+--------------------+---------------------------------------------+
| John Shaw | Tel: 07973 826613 |
+--------------------+---------------------------------------------+
| Martin Perrin | Tel: 07785 505 337 |
+--------------------+---------------------------------------------+
| | |
+--------------------+---------------------------------------------+
| Vipera GmbH | |
+--------------------+---------------------------------------------+
| Marco Casartelli | Tel:+39 3482 605 608 |
+--------------------+---------------------------------------------+
| | |
+--------------------+---------------------------------------------+
| Beaumont Cornish | Tel: 0207 628 3396 |
| Limited | |
+--------------------+---------------------------------------------+
| Roland Cornish | |
+--------------------+---------------------------------------------+
| James Biddle | |
+--------------------+---------------------------------------------+
| | |
+--------------------+---------------------------------------------+
DEFINITIONS
The following definitions shall apply throughout this announcement unless the
context otherwise requires:
+--------------------+----------------------------------------------+
| "Acquisition" | the proposed acquisition by the Company of |
| | the entire share capital of Vipera as |
| | proposed in the Document and pursuant to the |
| | Acquisition Agreement |
+--------------------+----------------------------------------------+
| "Admission" | admission of the Enlarged Share Capital to |
| | trading on AIM becoming effective in |
| | accordance with the AIM Rules |
+--------------------+----------------------------------------------+
| "AGM" or "Annual | the Annual General Meeting of the Company, |
| General Meeting" | notice of which was set out at the end of |
| | the Document |
+--------------------+----------------------------------------------+
| "AIM" | a market operated by the London Stock |
| | Exchange |
+--------------------+----------------------------------------------+
| "Company" or | Ricmore Capital Plc, a company registered in |
| "Ricmore" | England and Wales with registered number |
| | 05383355 |
+--------------------+----------------------------------------------+
| "Completion" | completion of the Acquisition Agreement in |
| | accordance with its terms |
+--------------------+----------------------------------------------+
| "Consideration | 103,651,724 New Ordinary Shares to be issued |
| Shares" | to the Vendors on Completion as |
| | consideration under the Acquisition |
| | Agreement |
+--------------------+----------------------------------------------+
| "Concert Party" | the Concert Party as defined by the Takeover |
| | Code comprising the Vendors, further details |
| | of whom are set out in Part A of Part 7 of |
| | the Document |
+--------------------+----------------------------------------------+
| "Directors" or | the existing directors of the Company, whose |
| "Board" | names are set out on page 5 of the Document |
+--------------------+----------------------------------------------+
| "Document" | the admission document, as prepared in |
| | accordance with the AIM Rules |
+--------------------+----------------------------------------------+
| "Enlarged Share | all of the issued New Ordinary Shares |
| Capital" | immediately following Admission including, |
| | for the avoidance of doubt, the |
| | Consideration Shares and the Placing Shares |
+--------------------+----------------------------------------------+
| "Enlarged Group" | the Company and its subsidiaries following |
| | Completion |
+--------------------+----------------------------------------------+
| "Existing Ordinary | the 332,768,383 issued Ordinary Shares of 1p |
| Shares" | as at the date of the Document and, for the |
| | avoidance of doubt, prior to the Capital |
| | Reorganisation |
+--------------------+----------------------------------------------+
| "Existing | the persons who are registered as holders of |
| Shareholders" | Existing Ordinary Shares at the date of the |
| | Document |
+--------------------+----------------------------------------------+
| "London Stock | London Stock Exchange plc |
| Exchange" | |
+--------------------+----------------------------------------------+
| "New Ordinary | the new Ordinary Shares of 1p each in the |
| Shares" | capital of the Company following the Capital |
| | Reorganisation |
+--------------------+----------------------------------------------+
| "Ordinary Shares" | ordinary shares of 1p each in the capital of |
| | the Company |
+--------------------+----------------------------------------------+
| "Panel" | the Panel on Takeovers and Mergers |
+--------------------+----------------------------------------------+
| "Placing" | the conditional placing by the Company of |
| | the Placing Shares at the Placing Price |
+--------------------+----------------------------------------------+
| "Placing Shares" | 647,058 New Ordinary Shares to be allotted |
| | and issued pursuant to the Placing |
+--------------------+----------------------------------------------+
| "Proposals" | the Acquisition, the Placing, the Waiver, |
| | the change of the Company's name to "Vipera |
| | Plc", Admission and the Capital |
| | Reorganisation |
+--------------------+----------------------------------------------+
| "Resolutions" | the resolutions contained in the notice of |
| | AGM set out at the end of the Document |
+--------------------+----------------------------------------------+
| "Shareholders" | the persons who are registered as holders of |
| | Ordinary Shares from time to time |
+--------------------+----------------------------------------------+
| "Takeover Code" | the City Code on Takeovers and Mergers |
+--------------------+----------------------------------------------+
| "Vendors" | the shareholders of Vipera, as set out in |
| | Part A of Part 7 of the Document |
+--------------------+----------------------------------------------+
| "Vendor Warrants" | warrants issued to certain of the Vendors to |
| | subscribe for up to 4,044,217 Warrant Shares |
| | at 3p per New Ordinary Share pursuant to the |
| | terms of the New Vipera Warrant Deed and the |
| | Old Vipera Warrant Deed |
+--------------------+----------------------------------------------+
| "Vipera" | Vipera GmbH, registered in Switzerland with |
| | identification number CH-400.4.024.134-4 |
+--------------------+----------------------------------------------+
| "Vipera Shares" | the entire issued share capital of Vipera |
| | being 10,380 ordinary shares of CHF 100 each |
+--------------------+----------------------------------------------+
| "Waiver" | the waiver (further details of which are set |
| | out in paragraph 12 of Part 1 of the |
| | Document) of the obligations on the Concert |
| | Party to make a general offer under Rule 9 |
| | of the Takeover Code which may arise as a |
| | consequence of the issue of Consideration |
| | Shares and the exercise of the Vendor |
| | Warrants by members of the Concert Party, |
| | granted by the Panel conditional upon the |
| | approval of the Shareholders by the passing |
| | of the Waiver Resolution |
+--------------------+----------------------------------------------+
| "Waiver | Resolution 3 set out in the notice of AGM at |
| Resolution" | the end of the Document |
+--------------------+----------------------------------------------+
| "Warrants" | the existing and proposed warrants to |
| | subscribe for Warrant Shares, further |
| | details of which are set out in paragraph 5 |
| | of Part 8 of the Document |
+--------------------+----------------------------------------------+
| "Warrant Shares" | New Ordinary Shares issued pursuant to the |
| | exercise of the Warrants |
+--------------------+----------------------------------------------+
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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