25th Nov 2009 15:00
European Islamic Investment Bank plc (the "Company")
Result of Tender Offer
The Board announces that a total of 243,573,376 Ordinary Shares (representing approximately 13% per cent of the issued ordinary share capital of the Company) have been tendered under the Tender Offer, the terms of which were set out in the circular sent to Shareholders on 28 October 2009 (the "Circular").
The maximum aggregate number of Ordinary Shares which may be purchased in the Tender Offer is 100,000,000 Ordinary Shares. The Directors reserved the right as part of the Tender Offer to exercise their discretion in the allocation of successful applications although, subject to the overall maximum of 100,000,000 Ordinary Shares, it was their intention to accept applications for up to 500,000 Ordinary Shares per Qualifying Shareholder.
The Directors have resolved to accept tenders in respect of a total of 59,903,978 Ordinary Shares. In accepting valid tenders the Directors have fully accepted valid tenders of up to 500,000 Ordinary Shares from Qualifying Shareholders and from beneficial owners where their shares are held by Qualifying Shareholders as nominee and which were notified to the Company.
The expected timetable of principal events remaining as part of the Tender Offer are set out below:
|
Court hearing to confirm Capital Reduction* |
9 December 2009 |
|
Effective Date* |
10 December 2009 |
|
Purchase of Ordinary Shares under the Tender Offer** |
10 December 2009 |
|
Purchase of Ordinary Shares under the Purchase Agreement** |
10 December 2009 |
|
CREST Accounts credited with Tender Offer proceeds** |
16 December 2009 |
|
Dispatch of cheques for Tender Offer proceeds** |
16 December 2009 |
* These dates are dependent on, inter alia, the date upon which the Court confirms the Capital Reduction. The Court hearing may be subject to postponement by the Court.
** The Capital Reduction is subject to, inter alia, the approval of the Court and will not take place if Court approval is not obtained. If the Capital Reduction is not approved by the Court, the Tender Offer will not complete.
A copy of the Circular, which contains full details of the Tender Offer, is available on the Company's website www.eiib.co.uk.
Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Circular.
25 November 2009
Enquiries:
EIIB plc Tel: +44(0)20 7847 9900
Keith McLeod, Acting Chief Executive Officer
Evolution Securities Tel: +44(0)20 7071 4300
Chris Sim
Bobbie Hilliam
Fishburn Hedges Tel: +44 (0)20 7839 4321
Michelle James
Andrew Marshall
Related Shares:
Rasmala