14 Jun 2019 13:30
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR THE REPUBLIC OF SOUTH AFRICA
14 June 2019
El Oro Ltd
Scheme Timetable Update
On 24 May 2019, El Oro Ltd (the "Company") published a Circular (the "Circular") in relation to proposals for the voluntary winding-up and reconstruction of the Company with rollover options into JPMorgan Elect plc ("Proposals") by way of a scheme of reconstruction of the Company (the "Scheme").
The Circular set out an expected timetable of the Proposals (the "Timetable"). The Circular stated that heads of terms for the sale of 41 Cheval Place, a freehold property in the Company's portfolio (the "Freehold Property") had been signed on 16 May, 2019. The Circular stated that in the event that the net proceeds of the expected sale of the Freehold Property had not been received prior to 5.00 p.m. on 18 June 2019, (being the expected Calculation Date) the Company may postpone the Calculation Date. The Company now confirms that the completion date for the Freehold Property sale, has been set for 27 June 2019 and therefore the Timetable has been updated accordingly.
The full timetable is set out below, with the updated dates shown in bold:
2019 | |
Time from which it is advised that dealings in the Shares should only be for cash settlement and immediate delivery of documents of title | 6.00 p.m. on 14 June |
Latest time and date for receipt of Forms of Election or TTE Instructions from Eligible Shareholders | 1.00 p.m. on 17 June |
Closing of the Company's register of members and Record Date for participation in the Proposals
| 6.00 p.m. on 17 June
|
Latest time and date for receipt of Forms of Proxy from Shareholders in respect of the EGM
| 12 noon on 18 June
|
Shares disabled in CREST | 6.00 p.m. on 19 June
|
Listing of Shares on the Official List of TISEA suspended | 6.00 p.m. on 19 June
|
Extraordinary General Meeting | 12 noon on 20 June |
RNS Announcement of the results of the EGM and Elections | 20 June |
Commencement of the voluntary winding up of the Company
| 20 June |
Calculation Date | 5.00 p.m. on 27 June
|
Scheme Effective Date and Transfer Date | 2 July |
Admission of JPMorgan Elect Securities issued under the Scheme and dealings in such JPMorgan Elect Securities commence | 8.00 a.m. on 3 July |
Cheques expected to be despatched and CREST payments made to Shareholders in respect of the Cash Option | on or as soon as practicable after 3 July |
Share certificates for JPMorgan Elect Securities issued under the Scheme expected to be despatched | week commencing 15 July |
Cancellation of the listing of the Shares on the Official List of TISEA
| 22 July
|
Each of the times and dates in the updated timetable above may (where permitted by law) be extended or brought forward without further notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service. All references to times in this document are to London time.
Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.
For further information:
El Oro Ltd Robin Woodbine Parish, Chairman Una Ni Dhonaill
|
robin@eloro.co.uk una@eloro.co.uk |
Aztec Financial Services (Guernsey) Limited Chris Copperwaite Lucy Smith | 01481 748831 |