Compulsory Acqn of SVM UK Active Fund Shares (5228J)
30 Junio 2011 - 10:48AM
UK Regulatory
TIDMZZZZ TIDMSVU
RNS Number : 5228J
Cyrun Finance Ltd
30 June 2011
Cash Offer by
Cyrun Finance Ltd
to acquire the entire issued and to be issued share capital
of
SVM UK Active Fund plc
not already owned by Cyrun Finance Ltd
Posting of compulsory acquisition notices
30 June 2011
On 23 March 2011, Cyrun Finance Ltd ("Cyrun") made a cash offer
(the "Offer") to acquire the entire issued, and to be issued, share
capital of SVM UK Active Fund plc ("SVM"). The Offer, which was
subsequently improved, was declared unconditional in all respects
on 19 May 2011. The Offer Price is 191.2p per SVM Share.
The Offer closed at 1.00pm on 2 June 2011 and was not
extended.
Cyrun currently holds 29,812,779 SVM Shares representing 93.85%
of its issued share capital.
Compulsory acquisition
Cyrun, having received acceptances or otherwise acquired
sufficient SVM Shares while the Offer was open for acceptance, is
exercising its right pursuant to the provisions of section 979 of
the Companies Act 2006, which entitle Cyrun to compulsorily acquire
the remaining SVM Shares in issue. Compulsory acquisition notices
are being posted to all remaining SVM Shareholders today (30 June
2011) and any such remaining SVM Shares will be transferred to
Cyrun on 11 August 2011.
As set out in the compulsory acquisition notice, SVM
Shareholders whose SVM Shares are being compulsorily acquired will
be entitled to receive 191.2p per SVM Share in cash, subject to
Computershare Investor Services PLC, which will maintain the
register of dissenting shareholders, receiving the required
certificates or other documentation.
Upon completion of the compulsory acquisition, any future
dividends or liquidation proceeds paid by SVM will be sent to Cyrun
(not to dissenting SVM Shareholders).
Enquiries:
Cyrun Finance, Ltd Tel: 001 303 442-2156
Stephen Miller
Fairfax I.S. PLC (sponsor and adviser to Cyrun) Tel: (020) 7598
5368
David Floyd
Further Information
Documents made available in connection the Offer, including the
Offer Document, and the Improved Offer Document are available in
electronic form at: www.cyrun.co.uk
Unless otherwise defined in this announcement, capitalised words
and phrases used herein have the same meanings given to them in the
document dated 23 March 2011 containing the Offer (the "Offer
Document").
Fairfax I.S. PLC ("Fairfax") is acting for Cyrun and no-one else
in connection with the Offer and will not be responsible to anyone
other than Cyrun for providing the protections afforded to clients
of Fairfax or for providing advice in relation to the Offer.
The Director of Cyrun and Stewart Horejsi accept responsibility
for the information contained in this announcement. To the best of
the knowledge and belief of the Director of Cyrun and Stewart
Horejsi (who have taken all reasonable care to ensure that such is
the case), the information contained in this announcement is in
accordance with the facts and does not omit anything likely to
affect the import of such information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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