32Red logo

TTR - 32Red News Story

194.88p 0.0  0.0%

Last Trade - 04/07/17

Sector
Consumer Cyclicals
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £62.3m
Position in Universe th / 1841

32Red Plc - Proposed cancellation of trading on AIM

Tue 6th June, 2017 3:25pm
RNS Number : 3259H
32Red Plc
06 June 2017

32Red Plc

("32Red" or "the Company")

Notification pursuant to AIM Rule 41

Proposed cancellation of trading on AIM

The Board of 32Red (the "Board") notes the announcement on 6 June 2017 by Kindred Group Plc ("Kindred") that its recommended cash offer to acquire the entire issued and to be issued ordinary share capital of 32Red (the "Offer") has become unconditional in all respects.

Kindred has acquired, or agreed to acquire 32Red Shares representing in excess of 75 per cent. of the voting rights of 32Red. Accordingly, at the request of Kindred, and as set out in the Offer Document dated 3 March 2017, the Board has applied for the cancellation of admission to trading on AIM of 32Red Shares (the "Delisting").

32Red confirms that the 20 business days' notice period for the cancellation of listing of 32Red Shares on AIM has commenced. Admission of the 32Red Shares to trading on AIM will be cancelled without the requirement for a resolution of shareholders approving such cancellation pursuant to Rule 41 of the AIM Rules. It is anticipated that the cancellation of listing and trading will take effect on or shortly after 7.00 a.m. (London time) on 7 July 2017.

The Delisting will significantly reduce the liquidity and marketability of any 32Red Shares not acquired by Kindred and the Board therefore recommends those 32Red Shareholders who have not already accepted the Offer to accept the Offer as soon as possible. The procedure for acceptance of the Offer is set out in the Offer Document.

Enquiries:

32Red Plc

Tel: +00 350 200 49396

Ed Ware, CEO


Jon Hale, CFO




Numis (Financial adviser, nominated adviser and broker)

Tel: +44 (0) 20 7260 1000



Michael Meade (Nominated Adviser)


Richard Thomas (Corporate Broking & Advisory)


Michael Burke (Corporate Broking)




Hudson Sandler

Tel: +44 (0) 207 796 4133

Alex Brennan

32Red@hudsonsandler.com

Bertie Berger



This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUGUWPQUPMGCQ
© Stockopedia 2019, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.