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Euro Islamic Inv Bnk (RMA)

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Friday 08 May, 2015

Euro Islamic Inv Bnk

Result of Tender Offer

RNS Number : 5698M
European Islamic Investment BankPLC
08 May 2015
 

 

European Islamic Investment Bank plc

 

Result of Tender Offer

 

Further to the announcement made by European Islamic Investment Bank plc (the "Company") on 20 April 2015 regarding the publication of a circular explaining the terms of a Tender Offer for up to £20 million, the Company today announces the result of the Tender Offer.

 

Result of the Tender Offer

 

A total of 19,938,858 Shares (being 50.55 per cent. of the Company's Shares in issue as at 7 May 2015) were validly tendered under the Tender Offer. As a result, the Tender Offer was oversubscribed. The Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 17.96 per cent. of the excess Shares tendered.

 

8,000,000 Shares will be repurchased by the Company under the Tender Offer and cancelled, equating to 20.28 per cent. of the Company's Shares in issue as at 7 May 2015.

 

It is expected that cheques will be despatched and CREST accounts will be credited with proceeds in respect of successfully tendered Shares and with unsold uncertificated Shares and that the balancing Share certificates and TFE messages in respect of any unpurchased Shares will be despatched during the week commencing 18 May 2015.

 

Following the implementation of the Tender Offer the Company will have 30,446,654 Shares in issue (excluding 995,130 Shares held in Treasury).

Accordingly, 30,446,654 Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interests in, the Company under the FCA's Disclosure and Transparency Rules.

 

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.

 

Enquiries:

European Islamic Investment Bank plc

Tel: +44 (0)20 7847 9900

Zak Hydari, CEO

 

Westhouse Securities

Tel: +44 (0)20 7601 6100

Antonio Bossi / David Coaten

 

 


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