REG - Daejan Hldgs PLC - Cancellation of listing & trading of Daejan Shares

LazardAnnouncement

11/05/2020 11:35

RNS Number : 4855M
  
Daejan Holdings PLC
  
11 May 2020
  
 

Cancellation of listing and trading of Daejan Shares
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
11 May 2020
RECOMMENDED FINAL CASH OFFER
FOR
DAEJAN HOLDINGS PLC
BY
DOCK NEWCO LIMITED
a newly incorporated company within the Freshwater Group
a newly incorporated company within the Freshwater Group
CANCELLATION OF LISTING AND TRADING IN DAEJAN SHARES
On 21 February 2020, the board of directors of Dock Newco Limited ("Dock" or "BidCo") and the then independent non-executive director of Daejan Holdings plc ("Daejan") jointly announced a recommended final cash offer for the entire issued and to be issued share capital of Daejan not already owned directly or indirectly by the Freshwater Concert Party to be effected by means of a scheme of arrangement between Daejan and the Scheme Shareholders under Part 26 of the Companies Act 2006 (the "Scheme") which was contained in a document sent to Daejan Shareholders on 3 April 2020 (the "Scheme Document").
Further to Daejan's announcement on 7 May 2020 that the Scheme has become effective, Daejan confirms that the listing of Daejan Shares on the Official List of the Financial Conduct Authority and the admission to trading of Daejan Shares on the London Stock Exchange's Main Market for listed securities, have both been cancelled with effect from 8:00 am (London time) today.
Full details of the Offer are set out in the Scheme Document. Capitalised terms used in this announcement, unless otherwise defined, have the meanings given to them in the Scheme Document.
Enquiries:
Rothschild & Co (Financial Adviser to BidCo and the Freshwater Group)
+44 (0)20 7280 5000
Alex Midgen
Sam Green
Lazard (Financial Adviser and Rule 3 Adviser to Daejan and the Daejan Independent Director)
+44 (0)20 7187 2000
Patrick Long
William Lawes
N+1 Singer (Corporate Broker to Daejan)
+44 (0)20 7496 3000
James Maxwell
James Moat
Herbert Smith Freehills LLP is acting as legal adviser to BidCo.
Bryan Cave Leighton Paisner LLP is acting as legal adviser to Daejan.
Further Information
N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for BidCo and for no one else in connection with the Offer and will not regard any other person as its client in relation to the Offer and will not be responsible to anyone other than BidCo for providing the protections afforded to clients of Rothschild & Co, nor for providing advice in relation to any matter referred to in this Announcement.
Lazard & Co., Limited ("Lazard"), which is authorised and regulated by the FCA in the United Kingdom, is acting as financial adviser exclusively to Daejan and the Daejan Independent Director and no-one else in connection with the Offer and will not be responsible to anyone other than Daejan and the Daejan Independent Director for providing the protections afforded to clients of Lazard & Co., Limited nor for providing advice in connection with the Offer or the other matters referred to in this Announcement.
Nplus1 Singer Advisory LLP ("N+1 Singer"), which is authorised and regulated by the FCA in the United Kingdom, is acting as corporate broker exclusively for Daejan and no one else in connection with the Offer and the matters set out in this Announcement, and will not be responsible to any person other than Daejan for providing the protections afforded to clients of N+1 Singer, nor for providing advice in relation to the Offer or any matter referred to herein. Neither N+1 Singer nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of N+1 Singer in connection with this Announcement, any statement contained herein or otherwise.
Publication of this Announcement
A copy of this Announcement will be available, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, via Daejan's website at http://www.daejanholdings.com by no later than 12 noon (London time) on the Business Day following this Announcement. The contents of Daejan's website are not incorporated into and do not form part of this Announcement.


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