Last checked at 17 Mar 2015 16:57
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 OF SUCH JURISDICTION.
17 March 2015
API Group plc ("API" or the "Company")
Cancellation of Admission to Trading on the Alternative Investment Market (AIM) of the London Stock Exchange ("LSE")
Cedar 2015 Limited ("Cedar") announced on 9 February 2015 that it had declared its offer for API wholly unconditional. On 5 March 2015, the Independent Board of the Company recommended to shareholders of the Company that they accept the offer made by Cedar. On 16 March 2015, Cedar further announced that it had received valid acceptances under its offer for the Company in respect of approximately 75.1 per cent. of the existing issued ordinary share capital of API.
On 17 March 2015, the Company's Board of Directors resolved to approve a request from Cedar dated 16 March 2015 that the Company apply to the LSE to cancel the admission of the Company's ordinary shares of 1p each ("Ordinary Shares") to trading on AIM.
The Board wishes to advise shareholders, persons with information rights and participants in the API 2006 Performance Share Plan and the API Joint Share Plan that the application has been made in accordance with Rule 41 of the AIM Rules for Companies and that the cancellation will be effective from 7.00 a.m. on 17 April 2015. It should be noted therefore that the last day of dealings in the Ordinary Shares is expected to be 16 April 2015.
A copy of this announcement will be available for viewing on API's website at http://www.apigroup.com and will posted to shareholders, persons with information rights and participants in the API 2006 Performance Share Plan and the API Joint Share Plan.
For further information, please contact:
API Group plc Andrew Turner, Chairman | Tel: +44 (0) 1625 650334 |
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Cairn Financial Advisers LLP Tony Rawlinson / Avi Robinson | Tel: +44 (0) 20 7148 7900 |