Business
Sale of Treasury Shares
Sale of Treasury Shares.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6294S CLS Holdings PLC 11 November 2013 \n \n\n \nRelease date: 11 November 2013\nEmbargoed until: 07:00\n \n \nNOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL\n \n \nCLS Holdings plc \n(\"CLS\", the \"Company\" or the \"Group\")\nSale of Treasury Shares\n \nThe Company is pleased to announce that on 8 November 2013 it sold 1,600,000 ordinary shares of 25p each in the Company (\"Ordinary Shares\"), previously held as treasury shares, at a price of 1215 pence per Ordinary Share (the \"Sale\").\n \nThe Ordinary Shares were placed with a number of institutional investors through the Company's joint broker, Liberum Capital.\n \nThe Board considers that the Sale, which is in response to feedback from its institutional investors, will increase liquidity in the trading of the Company's Ordinary Shares. It will also provide additional strength to the Group's balance sheet and extra flexibility to take advantage of opportunities which arise in the real estate market and other opportunities within the Company's existing portfolio.\n \nFollowing the settlement of Ordinary Shares pursuant to the Sale, which is expected to occur on or around 15 November 2013, the Company will have 46,856,893 Ordinary Shares in issue, of which 2,903,103 Ordinary Shares will be held as treasury shares. Therefore, the total number of Ordinary Shares in issue following completion of the Sale, excluding treasury shares, and also the total number of voting rights in the Company will be 43,953,790. The Company does not have any other class of shares in issue other than the Ordinary Shares. \n \nThe above figure of 43,953,790 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Ordinary Shares in the Company under the FCA's Disclosure and Transparency Rules.\n \nSten Mortstedt, Executive Chairman of CLS, commented:\n \n\"I am pleased that, by this placing, we have been able to satisfy som...