22nd Feb 2017 14:00
The following amendment has been made to the 'Result of Tender Offer and Directors' Interests' announcement released on 22/02/2017 at 7:00 under RNS No 4823X.
The price quoted in the table of Directors Interests in the announcement was erroneously stated as 200p instead of the tender offer price of 3.28p. This has now been corrected.
All other details remain unchanged.
The full amended announcement is shown below.
Taihua plc
("Taihua" or the "Company")
Result of Tender Offer and Directors' Interests
The Company today announces the results of the Tender Offer set out in the shareholder circular published by the Company on 6 February 2017 (the "Circular"). The Tender Offer closed at 1.00 p.m. on 20 February 2017.
Result of Tender Offer
Under the Tender Offer, 7,490,352 Shares were validly tendered and 7,490,352 Shares will be purchased at a price per Share of 3.28 pence, for an aggregate purchase price of £245,683.45. The Shares to be purchased under the Tender Offer represent approximately 7.16 per cent. of the Company's entire issued share capital.
It is anticipated that the proceeds payable under the Tender Offer to the Shareholders who hold their Shares in certificated form will be dispatched no later than 28 February 2017 in the form of a cheque. Those Shareholders who hold their Shares in uncertificated form will have their CREST accounts credited no later than 28 February 2017.
As set out in the Circular, the Shares will be purchased by Daniel Stewart & Company plc pursuant to the Tender Offer and the Company will purchase such Ordinary Shares from them under the terms of the Repurchase Agreement as described in the Circular. The Shares will be acquired into Treasury, and further announcements will be made in due course. The Company intends to ultimately cancel the Shares purchased by it under the Repurchase Agreement. Further announcements will be made in due course.
Directors' Interests
The Directors' participation in the Tender Offer is set out below:
Number of Ordinary Shares prior to the Tender Offer | Percentage of issued share capital prior to the Tender Offer | Number of Ordinary Shares sold under the Tender Offer at 3.28p per Ordinary Share | Number of Ordinary Shares following the Tender Offer | Percentage of issued ordinary share capital following cancellation of the Tender Offer shares
| |
Nicholas Lyth | 340,000 | 0.32 | 340,000 | 0 | 0 |
Yunwu Liu | 11,008,650 | 10.52 | 0 | 11,008,650 | 11.33 |
Mingjian Yin | 23,703,826 | 22.65 | 0 | 23,703,826 | 24.40 |
Chun Chai | 5,504,325 | 5.26 | 0 | 5,504,325 | 5.67 |
Zhaoyang Ma | 0 | 0 | 0 | 0 | 0 |
Chong Cao | 0 | 0 | 0 | 0 | 0 |
Capitalised terms used in this announcement have the same meanings given to them in the Circular.
Enquiries:
Nicholas Lyth, Taihua plc 0776 990 6686
Katy Mitchell, WH Ireland Limited +44 161 832 2174
Related Shares:
TAIH.L