Business
Tender Offer and Notice of Ge
Tender Offer and Notice of Ge.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n RNS Number : 3541R CLS Holdings PLC 19 August 2010 \n \n\n19 AUGUST 2010\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \nCLS Holdings plc\n(\"CLS\" or the \"Company\")\n \nProposed purchase of 1 in every 74 Ordinary Shares of 25p each\n in the Company (\"Ordinary Shares\") at 625 pence per share \nby way of a tender offer (the \"Tender Offer\") and\nNotice of General Meeting\n \n \nToday the Board of CLS announced in its Half Yearly Financial Report that the Company intends to purchase 1 in every 74 Ordinary Shares by way of a tender offer at 625p per share. \n \nCLS has today posted a circular to shareholders in relation to the Tender Offer on the terms set out above. If the maximum number of 638,195 Ordinary Shares under the Tender Offer is acquired, this will result in approximately £4 million being paid by the Company to participating shareholders.\n \nThe Tender Offer is open to all eligible shareholders on the Company's register at 5.00pm on 7 September 2010, who may participate by tendering all or a proportion of their holdings of Ordinary Shares at the above price. No Ordinary Shares will be purchased in relation to the Tender Offer unless the relevant resolution to be proposed at the general meeting of the Company to be held on 8 September 2010 (the 'GM') is passed. The Tender Offer will be void if less than 0.1 per cent. of the issued ordinary share capital of the Company (excluding treasury shares) in aggregate is tendered. The Ordinary Shares purchased under the Tender Offer will be cancelled.\n \nCopies of the Tender Offer circular, tender form and form of proxy will be submitted to the UK Listing Authority, and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:\n \nFinancial Services Authority\n25 The North Colonnade\nCanary Wharf\nLondon E14 5HS\n+44 (0)20 7066 1000\n \nFull details of the Tender Offer are contained in circular which will shortly be available on the CLS website along with the form of proxy at www.clsholdings.com, in the Investor Relations section under Financial Reports. Copies of the documents may also be obtained from the Comp...