Pan European Terminals PLC Notice of cancellation (9340J)
18 Junho 2014 - 8:04AM
UK Regulatory
TIDMPAN
RNS Number : 9340J
Pan European Terminals PLC
18 June 2014
18 June 2014
Pan European Terminals Plc
(the "Company" or "PAN")
Notice of Cancellation
Further to the announcement today by Belphar Ltd ("Belphar")
that it now holds or has received valid acceptances of their offer
("Offer") in respect of a total of 67,310,141 PAN ordinary shares,
representing an aggregate of 63.31 per cent. of the issued ordinary
share capital of PAN and 90.31 per cent. of the PAN ordinary shares
to which the Offer relates, the Company has, at the request of
Belphar, applied to the London Stock Exchange for the cancellation
of trading in the PAN ordinary shares on AIM ("Cancellation").
It is expected that Cancellation will occur at 7.00 a.m. on 16
July 2014 after which time PAN ordinary shares will no longer be
admitted to trading on AIM.
Cancellation will significantly reduce the liquidity and
marketability of any PAN ordinary shares not acquired by Belphar
and the Board of PAN therefore recommends to PAN shareholders that
they accept the offer by PAN.
-ends-
Enquiries:
Pan European Terminals plc Tel: +44 (0) 20 3145
Simon Escott, Chief Executive Officer and Interim 1908
Executive Chairman Mob: +44 (0)7920
095 800
Westhouse Securities Ltd - Joint Financial Adviser, Tel: +44 (0) 20 7601
Nominated Adviser and Broker to Pan 6100
Richard Johnson
Antonio Bossi
finnCap Ltd - Joint Financial Adviser to Pan Tel: +44 (0) 20 7220
Stuart Andrews 0500
Christopher Raggett
Leander - Financial PR to Pan Tel: +44 (0)7795
Christian Taylor-Wilkinson 168 157
Notes to Editors:
Pan European Terminals Plc operates hydrocarbon refined product
Storage and Transhipment Terminals in Aabenraa (Denmark),
Kaliningrad City (Russia) and Baltysk (Russia). It also leases and
operates tanks in Rotterdam (Holland). The Group presently has
approx. 400,000 Cubic Meters of tank capacity under ownership or
management, with approximately 40% of its annual profit now being
derived from its non-Russian assets. The Group has been building
critical mass in this field for three years and offers its
customers flexibility, competitive rates and excellent facilities
for storage, transhipment and bunkering services.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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