17 Jan 2022 07:00
NAPSTER GROUP PLC
("NAPS" or the "Company")
Update on Disposal and De-listing timetable
Napster (AIM:NAPS), a leading music company and operator of the MelodyVR and Napster platforms, is pleased to announce that the Directions Hearing in relation to the proposed Capital Reduction occurred on 14 January 2022.
Accordingly, as detailed in the Company's circular dated 3 December 2021, the last day of dealings in the Company's ordinary shares is still expected to be 27 January 2022 with the Company's ordinary shares being cancelled from trading on AIM at 7.00 a.m. on 28 January 2022. The expected timetable for the Capital Reduction, Share Consolidation and completion for the Disposal are set out below.
Court hearing with respect to the Capital Reduction | 25 January 2022 |
Expected date that the Capital Reduction will become effective
| 26 January 2022
|
Record date in respect of the Share Consolidation
| 5.00 p.m. on 26 January 2022 |
Expected date and time that the Share Consolidation will become effective
| 8.00 a.m. on 26 January 2022 |
Record date and time in respect of the Disposal
| 6.00 p.m. on 27 January 2022 |
Expected date and time for completion of the Disposal and issue of Consideration Shares
| 11.59 p.m. on 27 January 2022 |
Earliest date of De-Listing / cancellation of admission of New Ordinary Shares from AIM
| With effect from 7.00 a.m. on 28 January 2022 |
1) If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders through a Regulatory Information Service.
2) All references to time in this announcement are to London time, unless otherwise stated.
3) Any dates above are subject to court availability in respect of the Capital Reduction
For further information please contact:
Napster Group PLCAnthony Matchett, Group CEO | email@napster.group |
finnCap Ltd ( Nominated Adviser and Broker) Corporate Finance: Marc Milmo, James Thompson, Milesh Hindocha ECM: Tim Redfern, Sunila de Silva | Tel: +44 (0) 20 7220 0500 |