Compulsory acquisition of out

RNS Number : 0041Y

ADVFN PLC

26 August 2009

 

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA, OR ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 

  26 AUGUST 2009 - For immediate release 

RECOMMENDED OFFER BY ADVFN PLC ('ADVFN') FOR THE ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF ALL IPO PLC ('ALL IPO') 

FURTHER ACCEPTANCES AND COMPULSORY ACQUISITION OF THE OUTSTANDING ALL IPO SHARES

 As at 1.00 p.m. on 25 August 2009 valid acceptances of the Offer had been received in respect of 17,606,410 ALL IPO Shares, representing approximately 58.01 per cent of the issued share capital of ALL IPO.

In addition to the acceptances referred to above, ADVFN holds 11,250,000 ALL IPO Shares, representing approximately 37.07 per cent of the issued share capital of ALL IPO.  

Accordingly, as at 1.00 PM on 25 August 2009, ADVFN either owned or had received valid acceptances in respect of 28,856,410 ALL IPO Shares, representing approximately 95.09 per cent of the issued share capital of ALL IPO. 

Having received acceptances in respect of ALL IPO Shares representing over 90 per cent of the shares to which the Offer refers (and the same voting rights carried by such shares), ADVFN now announces its intention to acquire compulsorily the outstanding ALL IPO Shares under the provisions of sections 974-991 of the Companies Act 2006 ('Compulsory Acquisition'). Notice to non-assenting ALL IPO Shareholders pursuant to section 980(1) of the Companies Act 2006 will be despatched in the near future.

The Offer and the Cash Alternative, which remain subject to the terms and conditions set out in the Offer Document, have been extended and will remain open for acceptance and will do so until the Compulsory Acquisition has been completed. It should be noted that notice for the Compulsory Acquisition is 6 weeks and accordingly ALL IPO Shareholders wishing to receive their consideration in respect of the Offer prior to this should consider accepting the Offer in accordance with the terms and conditions set out in the Offer Document. 

Admission to trading on AIM of the ALL IPO Shares will be cancelled on 27 August 2009. 

For further information please contact: 

ADVFN PLC 

Clem Chambers (Chief Executive) 

Michael Hodges (Chairman) 

020 7070 0909 

Grant Thornton UK LLP (NOMAD to ADVFN) 

Fiona Kindness 

 020 7728 3414 

 

END

 

 

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