Blancco Technology Group PLC Proposed Cancellation of Shares to Trading on AIM (7169Q)
19 Outubro 2023 - 11:30AM
UK Regulatory
TIDMBLTG
RNS Number : 7169Q
Blancco Technology Group PLC
19 October 2023
NOT 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
FOR IMMEDIATE RELEASE
19 October 2023
Blancco Technology Group plc
(the "Company" or "Blancco")
Proposed Cancellation of Admission of the Shares to Trading on
AIM
Further to the announcement made on 16 October 2023 on the Offer
made by Bidco for the entire issued and to be issued share capital
of Blancco becoming unconditional, the Board of Blancco Technology
Group plc (AIM: BLTG) today announces that it has made an
application to the London Stock Exchange for the proposed
cancellation of the admission to trading of the Company's ordinary
shares on AIM (the "Cancellation"), in accordance with Rule 41 of
the AIM Rules for Companies.
Under the AIM Rules, the Cancellation can only take place after
the expiry of a period of twenty business days from the date on
which notice of the Cancellation is given. It is therefore expected
that Cancellation will occur on the 17 November 2023.
Following the Cancellation becoming effective and the Blancco
Shares ceasing to be admitted to trading on AIM, Blancco
Shareholders who have not accepted the Offer will own shares in an
unlisted company and accordingly will not benefit from the
protections under the AIM Rules that were afforded to them whilst
Blancco was so admitted.
The Offer will remain open for acceptance until further notice.
At least 14 days' notice will be given by an announcement before
the Offer is closed. Subject to giving at least 14 days' notice,
Bidco can close the Offer at any point, following which
Shareholders who have not accepted the Offer will be unable to
accept the Offer.
Blancco has been informed that Bidco intends, promptly following
Cancellation, to proc ure that Blancco shall be re-registered as a
private company. Blancco has also been informed that Bidco does not
intend to put in place a matched bargain facility upon which
Blancco Shares can be traded.
The cancellation of trading in Blancco Shares on AIM will
significantly reduce the liquidity and marketability of any Blancco
Shares in respect of which the Offer has not been accepted at that
time. Any remaining Blancco Shareholders will become minority
shareholders in a majority controlled private limited company and
may therefore be unable to sell their Blancco Shares. There can be
no certainty that Blancco will pay any further dividends or other
distributions or that such minority Blancco Shareholders will again
be offered an opportunity to sell their Blancco Shares on terms
which are equivalent to or no less advantageous than those under
the Offer. Also, following the Offer closing, Blancco Shareholders
may not be able to sell their shares in the Company.
Capitalised terms and expressions used but not defined in this
announcement have the same meanings as given to them in the Offer
Document published by Bidco and dated 8 August 2023.
Enquiries:
Blancco Technology Group plc Via Buchanan
Rob Woodward, Chair
Matt Jones, Chief Executive Officer
Adam Moloney, Chief Financial Officer
Rothschild & Co (Lead Financial Adviser Tel: +44 (0) 20 7280
under Rule 3 of the Takeover Code to Blancco) 5000
Warner Mandel
Anton Black
Stifel Nicolaus Europe Limited (Joint
Financial Adviser and Corporate Broker Tel: +44 (0) 20 7710
to Blancco) 7600
Nick Adams
Nick Harland
Richard Short
Ben Burnett
Buchanan Communications Limited (PR adviser Tel: +44 (0) 20 7466
to Blancco) 5000
Chris Lane / Jack Devoy
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END
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October 19, 2023 10:30 ET (14:30 GMT)
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