Business
Return of Cash to Shareholders
Return of Cash to Shareholders.
About this update from Pharos Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9353S Soco International PLC 30 September 2014 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n30 September 2014\nSOCO INTERNATIONAL PLC (\"SOCO\" OR THE \"COMPANY\")\nRETURN OF CASH TO SHAREHOLDERS: RESULTS OF B/C SHARE SCHEME ELECTIONS\nFollowing approval by Shareholders of the Return of Cash and certain related matters at the General Meeting of the Company held on 22 September 2014, the Company today provides an update in respect of the Return of Cash by way of the B/C Share Scheme.\nResults of B/C Share Scheme elections\nAs at the Election Deadline of 4.30 p.m. on 29 September 2014, Shareholders' elections or, as the case may be, deemed elections, for the Share Alternatives in respect of the B/C Share Scheme were as follows:\n\n\n\n\n \n\n\nNumber of Ordinary Shares\n\n\n%*\n\n\n\n\nIncome Option\n\n\n224,876,192\n\n\n67.74\n\n\n\n\nCapital Option\n\n\n107,078,451\n\n\n32.26\n\n\n\n\nTOTAL\n\n\n331,954,643\n\n\n100.00\n\n\n\n\n* Percentage based on issued share capital excluding treasury shares\nShareholders who had not made a valid election and all Overseas Shareholders resident, or with a registered address in the United States, Australia, Japan, Canada, the Republic of South Africa, New Zealand or any other Restricted Territory have been deemed to have elected for the Income Option in respect of all of their Ordinary Shares.\nFor the Share Alternatives set out above, 107,078,451 B Shares of 22 pence each and 224,876,192 C Shares of 0.0000001 pence each will be issued at 8.00 a.m. today.\nNo application will be made to the UK Listing Authority or to the London Stock Exchange for any of the B Shares, C Shares or Deferred Shares to be admitted to the Official List or to trading on the London Stock Exchange's main market for listed securities, nor will the B Shares, C Shares or the Deferred Shares be listed or admitted to trading on any other securities or investment exchange.\nRedemption of B Shares (Capital Option)\nAll B Shares of 22 pence each to be issued pursuant to the Capital Option (being 107,078,451 B Shares) are expected to be redeemed today for 22 pence per B Share. Following the redemption, such B Shares will be cancelled.\nIt ...