Brief: Recommended Cash Acquisition Of Velocys Plc By Madison Bidco Limited

Velocys

05/12/2023 07:57

Dec 5 (Reuters) - Velocys PLC  VLSV.L :
    * MADISON BIDCO LTD VELOCYS PLC  - RECOMMENDED CASH
ACQUISITION
    * VELOCYS PLC - RECOMMENDED CASH ACQUISITION OF VELOCYS PLC
BY
MADISON BIDCO LIMITED
    * VELOCYS PLC - ACQUISITION WILL BE IMPLEMENTED BY WAY OF A
COURT-SANCTIONED SCHEME OF ARRANGEMENT
    * VELOCYS PLC - EACH VELOCYS SHAREHOLDER WILL BE ENTITLED TO
RECEIVE: FOR EACH VELOCYS SHARE: 0.25 PENCE IN CASH
    * VELOCYS PLC -  ACQUISITION BECOMING EFFECTIVE, BIDCO HAS
AGREED
TO PROVIDE UP TO US$40 MILLION GROWTH CAPITAL TO VELOCYS
    * VELOCYS PLC - VELOCYS DIRECTORS UNANIMOUSLY INTEND TO
RECOMMEND
SCHEME
    * VELOCYS PLC - ACQUISITION VALUES VELOCYS' ENTIRE ISSUED,
AND TO
BE ISSUED, ORDINARY SHARE CAPITAL AT APPROXIMATELY £4.1 MILLION

Source text for Eikon:  ID:nRSE6494Va 
Further company coverage:  VLSV.L 

 ((Reuters.Briefs@thomsonreuters.com;))