Company name CPL Resources PLC
Headline Result of Tender Offer


RNS Number : 6461U
CPL Resources PLC
26 October 2017
 

Cpl Resources plc ("Cpl" or the "Company")

 

 

Result of Tender Offer

 

 

The Board of Cpl is pleased to announce the result of the Tender Offer described in the circular issued by the Company to its shareholders on 28 September 2017 (the "EGM Circular"). The Tender Offer closed on 25 October 2017 in accordance with its published timetable.

 

A total of 12,961,940 Ordinary Shares were validly tendered at the Tender Price of €6.75 per Ordinary Share pursuant to the Tender Offer, which equates to approximately 42.0 per cent. of the 30,875,856 Ordinary Shares currently in issue.

 

The total number of Ordinary Shares to be purchased by the Company pursuant to the Tender Offer is 3,703,703 for a total consideration, before expenses, of approximately €25 million.

 

In accordance with the terms of the Tender Offer, Shareholders who validly tendered to sell less than or equal to approximately 11.995 per cent. of their shareholdings (their "Guaranteed Entitlement") will have their tender satisfied in full. Shareholders who validly tendered more than their Guaranteed Entitlement, will have their Guaranteed Entitlement satisfied in full and any Ordinary Shares tendered above their Guaranteed Entitlement will be scaled down (to the nearest whole number of Ordinary Shares) to approximately 4.34 per cent of their respective excess applications.

 

Ordinary Shares purchased under the Tender Offer will be cancelled by the Company. Following completion of the Tender Offer and cancellation of the validly tendered and accepted Ordinary Shares, the Company will have a total of 27,172,153 Ordinary Shares in issue. 

 

It is anticipated that the crediting of CREST accounts (in the case of accepted tenders relating to Ordinary Shares in uncertificated form) and the despatch of consideration (in the case of accepted tenders relating to Ordinary Shares in certificated form) will occur by 9 November 2017. In addition, it is anticipated that CREST accounts will be credited for unsuccessfully tendered uncertificated Ordinary Shares by 31 October 2017, and that balance certificates will be issued, and share certificates for unsuccessfully tendered certificated Ordinary Shares will be returned, to Shareholders by 9 November 2017.

 

Directors' Interests

As described in the EGM Circular, certain of the Directors disposed of such number of shares as represented their respective Guaranteed Entitlements pursuant to the Tender Offer.

 

The table below sets out the Directors' respective shareholdings in the Company immediately prior to the Tender Offer and their respective shareholdings following their respective disposals pursuant to the Tender Offer.

 

Director

Shareholding prior to the Tender Offer

% Shareholding prior to the Tender Offer

Ordinary Shares disposed of pursuant to the Tender Offer

Shareholding following disposal

% Shareholding following disposal

John Hennessy

102,606

0.33

12,308

90,298

0.33

Anne Heraty

9,195,280

29.78

1,103,016

8,092,264

29.78

Paul Carroll

1,833,819

5.94

219,975

1,613,844

5.94

Mark Buckley

52,854

0.17

6,340

46,514

0.17

Breffni Byrne

8,209

0.03

984

7,225

0.03

Oliver Tattan

-

-

-

-

-

Colm Long

-

-

-

-

-

 

Terms used but not defined in this announcement have the same meaning given to them in the EGM Circular.

 

 

 

For Further Information:

 

Cpl Resources plc

+353 1 614 6000

Anne Heraty (CEO)


Mark Buckley (COO)




Davy Corporate Finance

+353 1 679 6363

Ivan Murphy


Daragh O'Reilly




FTI Consulting

+353 1 765 0888

Jonathan Neilan


Melanie Farrell


 

 

Form for Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them:

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

a)

Name

 

1. John Hennessy

 

2. Anne Heraty

 

3. Paul Carroll

 

4. Mark Buckley

 

5. Breffni Byrne

 

2

Reason for the notification

 

a)

Position/status

 

1. Non-Executive Chairman, PDMR

 

2. Chief Executive Officer, PDMR

 

3. Business Development Director, PDMR

 

4. Chief Operating Officer and Deputy CEO, PDMR

 

5. Non-Executive Director, PDMR

 

b)

Initial Notification / Amendment

 

Initial Notification

 

 

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

CPL Resources plc

 

 

b)

 

LEI

 

635400MBL7DAGFANI678

 

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial  instrument,

type  of

instrument

Identification code

 

Ordinary Shares of nominal value €0.10 each

 

ISIN: IE0007214426

b)

Nature of the transaction  

 

Disposal of Ordinary Shares under the Tender Offer

 

 

 

 

 

 

 

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

 

1. €6.75

 

2. €6.75

 

3. €6.75

 

4. €6.75

 

5. €6.75

 

 

1. 12,308

 

2. 1,103,016

 

3. 219,975

 

4. 6,340

 

5. 984

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

 

N/A, Single Transaction

 

 

 

 

 

e)

Date of the transaction

 

2017-10-26

 

 

f)

Place of the transaction

 

ESM Market of Irish Stock Exchange, XDUB

 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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