24th Mar 2009 15:23
24 March 2009
Travelzest plc ("Travelzest" or the "Company")
Exchangeable Shares
The Board of the Company announces that it has received notice from 6615716 Canada Inc. that it has exercised its rights to require 0763756 B.C. Limited, a wholly-owned indirect subsidiary of Travelzest, to redeem the 10,572,614 Class A shares ("Exchangeable Shares") in 0763756 B.C. Limited, and exchange them for 10,572,614 ordinary shares of 2 pence each in the Company ("Ordinary Shares") in accordance with the Exchange Rights Agreement dated 13 October 2006.
Application will be made for the 10,572,614 Ordinary Shares to be admitted to trading on AIM. The 10,572,614 Ordinary Shares will rank pari passu with all existing Ordinary Shares. Admission is expected to occur on or around 17 April 2009.
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Enquiries:
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Travelzest plc |
01442 874322 |
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Christopher Mottershead / Colin McKinlay
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Investec Investment Banking |
0207 597 5970 |
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Martin Smith / Erik Anderson
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Redleaf Communications |
020 7822 0200 |
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Emma Kane / Samantha Robbins |
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Related Shares:
TVZ.L