Company Announcement - Result of Voluntary Public Takeover Bid
THE FOLLOWING IS A COMPANY ANNOUNCEMENT ISSUED BY 6PM HOLDINGS P.L.C. (“THE COMPANY”) IN COMPLIANCE WITH THE LISTING RULES.
This Company Announcement is being issued in relation to the conditional voluntary public takeover offer launched by Idox p.l.c. for the entire issued share capital of the Company as further described in the offer document dated 14 December 2016 (“Offer Document”).
(i) Level of Acceptances as at the end of the Acceptance Period
Calamatta Cuschieri Investment Services Limited, in its capacity as Manager, Paying Agent and Registrar, has notified the Company that, at the end of the Acceptance Period (12:00 hours (CET) on 24 January 2017), it has received an aggregate amount of valid acceptances in respect of 20,594,473 shares in the Company, representing approximately 98.15% of the issued share capital of the Company.
Acceptances for 10,977,942 shares in the Company were received for the Combined Consideration and acceptances for 9,616,531 shares in the Company were received for the Alternative Consideration.
(ii) Satisfaction of Completion Conditions
By virtue of a communication received on the 24 January 2017, Idox p.l.c. has notified the Company that Idox p.l.c. considers all the conditions set out in the Offer Document as being satisfied in full and thus the voluntary public takeover offer is now unconditional in all respects.
(iii) Squeeze-Out and De-Listing
In view of the fact that Idox p.l.c. will hold over 90% of all the issued share capital of the Company and pursuant to the information set forth in Section 9.1 of the Offer Document, Idox p.l.c. has also confirmed that it intends to exercise the right arising out of Listing Rule 11.42 to require all the remaining shareholders to sell and transfer to Idox p.l.c. the remaining shares in the Company.
Idox p.l.c. will be appointing an independent expert to draw up a report in accordance to the provisions of Listing Rule 11.43. Further information about this process will be announced in due course.
Following completion of the Offer and on acquiring all the issued shares in the Company, Idox p.l.c. intends to apply for the de-listing of the Company shares as soon as practicable. Further updates will be announced in due course.
Dr Ivan Gatt
24th January 2017