13th Oct 2016 12:51
AVARAE GLOBAL COINS PLC
("Avarae" or the "Company")
Result of Extraordinary General Meeting
and
Cancellation of admission of Ordinary Shares to trading on AIM
Avarae (AIM: AVR.L) is pleased to announce that at the Extraordinary General Meeting of the Company held today, the delisting resolution was duly passed by Shareholders.
Accordingly, as announced on 19 September 2016, Avarae intends to:
• cancel the admission of its Ordinary Shares to trading on AIM;
• provide Qualifying Shareholders with an opportunity to realise some or all of their investment inAvarae Global Coins by accepting the Tender Offer pursuant to which WH Ireland will conditionallyoffer to purchase up to 16,156,667 Ordinary Shares at 11.5 pence per Ordinary Share; and
· to undertake further buybacks of up to 16,156,667 Ordinary Shares following completion of the Tender Offer and the De-Listing.
Cancellation of the admission of the Company's ordinary shares to trading on AIM is expecting to occur on or around 7.00am on 25 October 2016. A further announcement will be made in due course.
Shareholders looking to partake in the in the Tender Offer should refer to the circular which was previously sent to shareholders and is available at: http://www.avarae.com/investor-relations-2/documentation-sent-to-shareholders/ for further details.
Nigel Gautrey/Matt Wood | +44 (0)16 2461 5614 |
Avarae Global Coins plc
| |
Paul Shackleton/Nick Prowting | +44 (0)20 7220 1666 |
WH Ireland Ltd |
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
2016
| |
Latest time and date for receipt of Tender Forms and TTE Instructions in relation to the Tender Offer and Tender Offer closes | 11.00 a.m. on 20 October |
Record Date for Tender Offer | 5.00 p.m. on 20 October |
Announcement of results of the Tender Offer by WH Ireland and the Company | 21 October |
Purchase of Tender Offer Shares under the Tender Offer | On or around 24 October |
Earliest date for the De-Listing and cancellation of admission of the Ordinary Shares to trading on AIM | 7.00 a.m. on 25 October |
Despatch of cheques for Tender Offer proceeds | No later than 1 November |
CREST accounts credited with Tender Offer proceeds | No later than 1 November |
Despatch of share certificates in respect of any revised holdings of Ordinary Shares following the Tender Offer, and any Ordinary Shares held in CREST not tendered pursuant to the Tender Offer | No later than 1 November |
Proposed Buybacks | Anticipated to complete by 31 March 2018 |
Related Shares:
AVR.L