13th Nov 2009 13:55
TGE Marine AG
("TGE AG" or the "Company")
NOTICE OF AGM
PROPOSED CANCELLATION OF ADMISSION TO TRADING ON AIM
The board of TGE AG (the "Board") announces that a notice of annual general meeting of the Company (the "Notice of AGM") has been posted to holders of ordinary shares in the Company ("Shareholders").
Background
In the offer document to Shareholders issued on 13 October 2009, Caledonia Investments Plc, Gas Fin Investments S.A. and Gas Fin S.A. (the "Offerors") expressed their intention to cancel the admission of the Company's ordinary shares (the "Ordinary Shares") to trading on the AIM market of the London Stock Exchange ("AIM") (the "Cancellation").
In the Company's announcement of 26 October 2009, the Board stated that such Cancellation would be conditional upon obtaining the consent of not less than 75% of the votes cast by Shareholders at a general meeting.
Accordingly, in order for the Cancellation to become effective, Shareholders must approve a special resolution that requires a majority of not less than 75% of the votes cast (the "Cancellation Resolution"), which is proposed as resolution 11 in the Notice of AGM. The annual general meeting of the Company will take place at 3.00pm on December 11, 2009 at the premises of TGE AG at Mildred-Scheel-Straße 1, 53175 Bonn, Germany. If the Cancellation Resolution is passed by the requisite majority, it is expected that the Cancellation will take effect from 7.00am on Friday 18 December 2009.
Shareholders will be able to carry out dealings in the Ordinary Shares on AIM up to close of business on Thursday 17 December 2009.
Reasons for the Cancellation
As announced on 4 November 2009, 97.1% of the Ordinary Shares are owned by the Offerors (together with the Ordinary Shares held by Gas Fin GbR). Given this ownership structure, the Offerors are of the opinion that there is no longer a significant benefit to the Company in retaining a quotation on AIM and therefore it is inappropriate for it to maintain its public listing.
Future Trading in Ordinary Shares
The Board is aware that the implementation of Cancellation will restrict the ability of Shareholders to realise their shareholdings, if they so wished, in the future. Upon the Cancellation becoming effective, there will be no market facility for dealing in the Ordinary Shares and no price will be publicly quoted. Shareholders will be required to trade their Ordinary Shares privately.
The notice of AGM is available for viewing on the investor relations section of the Company's website: www.tge-marine.com.
Enquiries:
|
TGE Marine AG Steffen Schober Chief Financial Officer |
+49 (0)228 604 480 |
|
Singer Capital Markets Limited Jos Trusted Philip Wigg |
+44 (0)20 3205 7500 |
|
Pelham Public Relations Mark Antelme Henry Lerwill |
+44 (0)20 7337 1500 |
Related Shares:
Generation Ess.