13 Sep 2016 07:00
13 September 2016
MXC Capital Limited
("MXC" or the "Company", together with its subsidiaries, the "Group")
Results of General Meeting and Tender Offer
£3.0 million returned to shareholders
As announced on 25 August 2016, in line with its policy of returning capital to Shareholders, the Board of MXC resolved to return up to £3 million of capital to Shareholders via a Tender Offer, bringing the total capital returns announced during the financial year to 31 August 2016 to £3.8 million. The Tender Offer closed at 1.00pm on 9 September 2016.
General Meeting
The Company announces that at the General Meeting held at 9.00 a.m. on 12 September, the resolution proposed in the Notice of General Meeting attached to the Circular in relation to the Tender Offer published by the Company on 25 August 2016, was duly passed.
Results of Tender Offer
The Company confirms 2,146,867,846 Ordinary Shares were validly tendered and 83,399,424 Ordinary Shares will be purchased at a price per Ordinary Share of 3.6 pence, for an aggregate consideration of £3.0 million. Tenders for up to and including the Tender Offer Entitlement of 1 Ordinary Share for every 41 Ordinary Shares will be met in full. Tenders received for surplus Ordinary Shares will be met at the rate of 0.0039729 Ordinary Shares for each surplus Ordinary Share tendered over and above the Tender Offer Entitlement of 1 for 41, rounded down to the nearest whole Ordinary Share.
The Ordinary Shares to be purchased under the Tender Offer represent approximately 2.4 per cent. of the Ordinary Shares in issue.
All of the 83,399,424 Ordinary Shares purchased by the Company will be cancelled. Cheques will be dispatched for certificated Ordinary Shares purchased pursuant to the Tender Offer and payment will be made through CREST for uncertificated Ordinary Shares purchased pursuant to the Tender Offer, in each case, by 22 September 2016.
Total voting rights
With effect from 22 September 2016, the total number of exercisable voting rights in the Company will reduce from 3,419,376,861 to 3,335,977,437. This figure 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.
Capitalised terms used in this announcement shall have the meanings given in the Circular referred to above which is available on the Company's website www.mxccapital.com
MXC Capital Limited
Marc Young/Steven Zhang
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Nick How/Giles Balleny
+44 (0)20 3829 5000
Alma PR
Josh Royston / Hilary Buchanan
+44 (0)7780 901979/+44 (0) 7515 805218
About MXC Capital (www.mxccapital.com)
MXC (AIM:MXCP) is a specialist merchant bank with a track record of investing in and advising companies in the TMT sector. We bring together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which we combine to grow shareholder value.