22 Aug 2017 15:58
B.S.D. Crown Ltd. - Sale of Company SharesB.S.D. Crown Ltd. - Sale of Company Shares
PR Newswire
London, August 22
BSD Crown Ltd. (the “Company”)
(LSE: BSD)
Ramat Gan, 22 August 2017
Sale of Company Shares
Further to the announcement dated 8 February 2017, regarding the percentage of the Company's shares held by unaffiliated shareholders who are residents of the European Economic Area (“EEA”), the Company hereby provides notice of the consummation of certain sales of its shares to EEA residents.
Pursuant to Chapter 14 of the listing rules under section 74 of the Financial Services and Markets Act 2000 (as amended) (the “Listing Rules”), at least 25% of the Company’s issued and outstanding share capital is required to be held by EEA residents who are unaffiliated with the Company. In order to comply with such requirement, the Company has completed the sale of 19,350,000 of its Ordinary Shares, nominal value NIS0.01 per share (the “Purchased Shares”), representing (after the sale thereof) 14.96% of the Company’s issued and outstanding share capital, at a purchase price of Pound Sterling 0.25 per Purchased Share, for an aggregate amount of Pound Sterling 4,837,500. The purchasers of the Purchased Shares have confirmed to the Company that they are EEA residents and that they are unaffiliated with the Company. In the event that the suspension from trading of the Company's shares on the London Stock Exchange is not cancelled within 120 days following the consummation of such sales, the purchase price shall be reduced by Pound Sterling 0.05 per Purchased Share. The funds paid to the Company shall be used by the Company for its general operations.
Following the sale of the Purchased Shares, the Company's issued share capital consists of 129,340,252 Ordinary Shares with voting rights ("Voting Capital") and 11,237,902 Ordinary Shares held in treasury. The above statement of Voting Capital 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 under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries: Joseph Williger, Active Chairman of the Board Yossi@ydekel.co.il