28 Nov 2014 07:00
MXC CAPITAL PLC
("MXC Capital")
Amendment to Scheme of Arrangement Timetable
MXC Capital announces the following changes to the Expected Timetable of Principal Events for the proposed redomicile by Scheme of Arrangement announced on 24 November 2014:
1. trading in Old MXC Shares on AIM will now be suspended at 7.30 a.m. on 5 February 2015; and
2. cancellation of admission of Old MXC Shares to trading on AIM will now occur at 8.00 a.m. on 6 February 2015.
In all other aspects the Expected Timetable of Principal Events remains the same and is set out in full below.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
The following indicative timetable sets out amended dates for the implementation of the Proposal.
Event | Time and/or date |
Date of circulation of the Circular | 24 November 2014 |
Latest time for lodging BLUE Forms of Proxy for the Court Meeting | 11.00 a.m. on 15 December 2014(1) |
Latest time for lodging WHITE Forms of Proxy for the General Meeting | 11.30 a.m. on 15 December 2014 (1) |
Voting Record Time for Court Meeting and General Meeting | 6.00 p.m. on 15 December 2014 (2) |
Court Meeting | 11.00 a.m. on 17 December 2014 |
General Meeting | 11.30 a.m. on 17 December 2014 (3) |
The following dates are subject to change (please see note (4) below):
Scheme Court Hearing | 3 February 2015 |
Last day of dealings in, and for registration of transfers of, Old MXC Shares | 4 February 2015 |
Disablement in CREST of Old MXC Shares | 5.00 p.m. on 4 February 2015 |
Scheme Record Time | 6.00 p.m. on 4 February 2015 |
Trading in Old MXC Shares on AIM suspended | 7.30 a.m. on 5 February 2015 |
Reduction Court Hearing | 5 February 2015 |
Effective Date | 5 February 2015 |
Cancellation of admission of Old MXC Shares to trading on AIM | 8.00 a.m. on 6 February 2015 |
Commencement of dealings in New MXC Shares on AIM | 8.00 a.m. on 6 February 2015 |
Expected date for crediting of New MXC Shares to CREST accounts | 6 February 2015 |
Expected date for despatch of New MXC Share certificates | 20 February 2015 |
Long Stop Date | 31 March 2015 (5) |
The Court Meeting and the General Meeting will each be held at the offices of DAC Beachcroft LLP, 100 Fetter Lane, London EC4A 1BN.
Notes:
(1) It is requested that the BLUE Form of Proxy for the Court Meeting be lodged before 11.00 a.m. on 15 December 2014 (or in the case of any adjournment, 48 hours before the time fixed for the holding of the adjourned Meeting). BLUE Forms of Proxy not so lodged may be handed to the Chairman of the Court Meeting before the taking of the poll at the Court Meeting. The WHITE Form of Proxy for the General Meeting must be lodged before 11.30 a.m. on 15 December 2014 in order for it to be valid, or, if the General Meeting is adjourned, not later than 48 hours before the time fixed for the holding of the adjourned Meeting. The WHITE Form of Proxy cannot be handed to the Chairman of the General Meeting at that meeting.
(2) If either the Court Meeting or the General Meeting is adjourned, the Voting Record Time for the adjourned Meeting will be 6.00 p.m. on the date two working days before the date set for the adjourned Meeting.
(3) To commence at 11.30 a.m. or, if later, immediately after the conclusion of the Court Meeting or any adjournment thereof.
(4) These times and dates are indicative only and will depend, among other things, on the date upon which the Court sanctions the Scheme and confirms the associated Reduction of Capital. It will also depend on when the Court Orders sanctioning the Scheme and confirming the Reduction of Capital and, in relation to the Reduction of Capital, the statement of capital are delivered to the Registrar of Companies. MXC Capital will give notice of any change(s) by issuing an announcement through a Regulatory Information Service in the UK.
(5) This is the latest date by which the Scheme may become effective unless MXC Capital and New MXC agree a later date and (if required) the Court so allows.
Defined terms used herein shall have the same meaning as those used in the announcement in relation to the Scheme of Arrangement released by MXC Capital on 24 November 2014.
Enquiries to:
MXC Capital plc
Marc Young
+44 (0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
John Depasquale, John Treacy
+44 (0)20 7533 7727