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Napster Group PLC (NAPS)

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Monday 17 January, 2022

Napster Group PLC

Update on Disposal and De-listing timetable

RNS Number : 5563Y
Napster Group PLC
17 January 2022
 

NAPSTER GROUP PLC     

("NAPS" or the "Company") 

Update on Disposal and De-listing timetable

Napster (AIM:NAPS), a leading music company and operator of the MelodyVR and Napster platforms, is pleased to announce that the Directions Hearing in relation to the proposed Capital Reduction occurred on 14 January 2022.

Accordingly, as detailed in the Company's circular dated 3 December 2021, the last day of dealings in the Company's ordinary shares is still expected to be 27 January 2022 with the Company's ordinary shares being cancelled from trading on AIM at 7.00 a.m. on 28 January 2022. The expected timetable for the Capital Reduction, Share Consolidation and completion for the Disposal are set out below.

Court hearing with respect to the Capital Reduction

25 January 2022

Expected date that the Capital Reduction will become effective

 

26 January 2022

 

Record date in respect of the Share Consolidation

 

5.00 p.m. on 26 January 2022

Expected date and time that the Share Consolidation will become effective

 

8.00 a.m. on 26 January 2022

Record date and time in respect of the Disposal

 

6.00 p.m. on 27 January 2022

Expected date and time for completion of the Disposal and issue of Consideration Shares

 

11.59 p.m. on 27 January 2022

Earliest date of De-Listing / cancellation of admission of New Ordinary Shares from AIM

 

With effect from 7.00 a.m. on 28   January 2022

1)  If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders through a Regulatory Information Service.

2)  All references to time in this announcement are to London time, unless otherwise stated.

3)  Any dates above are subject to court availability in respect of the Capital Reduction

For further information please contact:

Napster Group PLC
Anthony Matchett, Group CEO 

[email protected]

finnCap Ltd (   Nominated Adviser and Broker)

Corporate Finance: Marc Milmo, James Thompson, Milesh Hindocha

ECM: Tim Redfern, Sunila de Silva 

Tel: +44 (0) 20 7220 0500 

 

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