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14 Dec 2012 14:27
Date: | 14 December 2012 |
On behalf of: | Carpathian PLC ("Carpathian", the "Company" or the "Group") |
Immediate Release |
Carpathian PLC
Distributable Reserves Update
On 30 November 2012, the Board of Carpathian announced that under AIM Rules, as a consequence of Carpathian divesting substantially all of its assets on 15 December 2011, in accordance with Rule 15 the Company was obliged to announce a reverse takeover or substantially implement its investment policy approved by shareholders within 12 months from that date.
The board of Carpathian has now terminated discussions with parties interested in a capital reorganisation, as referenced on 30 November 2012, which may have provided existing shareholders the potential to realise greater than 2.2 euro cents per share that the Company had originally intended for distribution. Accordingly, the Company's ordinary shares will be suspended at 7.30 a.m. on 17 December 2012. Carpathian will now proceed with its original intention to distribute approximately 2.2 euro cents per share to existing shareholders, with final timings and amounts to be confirmed in due course.
Carpathian continues to be in discussions with parties regarding a change in investment policy or reverse takeover and will provide further information at the appropriate time.
-Ends-
Enquiries:
Carpathian PLC | |
Rory Macnamara, Non-executive Chairman | Via Redleaf Polhill |
Carpathian Asset Management Limited | 020 7917 9572 |
Paul Rogers / Simon Killick | ir@carpathianam.com |
Canaccord Genuity Limited | 020 7523 8350 |
Bruce Garrow | |
Redleaf Polhill | 020 7566 6720 |
Henry Columbine / Hannah Fensome | carpathian@redleafpolhill.com |
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