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TyraTech, Inc. (TYR)

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Friday 05 January, 2018

TyraTech, Inc.

Result of Tender Offer

RNS Number : 0361B
TyraTech, Inc.
05 January 2018
 

For immediate release: 5th January 2018

 

TYRATECH, INC.

 

("TyraTech" or the "Company")

Result of Tender Offer

 

TyraTech Inc. (AIM: TYR, and TYRU), the life sciences company focused on nature-derived insect and parasite control products, is pleased to announce the results of the Tender Offer, details of which were set out in the shareholder circular published by the Company on 4 December 2017.

Result of Tender Offer

Under the Tender Offer 204,994,390 Common Shares were validly tendered and will be purchased at a price per Common Share of 3 pence, for an aggregate purchase price of $8.4 million. The Common Shares purchased under the Tender Offer represent approximately 55.8 per cent. of the Company's Issued Capital.

It is anticipated that the proceeds payable under the Tender Offer to the Company's Shareholders who hold their Shares in certificated form will be despatched on 15 January 2018 in the form of a cheque. Those Shareholders who hold their Shares in uncertificated form will have their CREST accounts credited on 8 January 2018.

The Company intends to retire the Common Shares purchased by it under the Tender Offer, reducing the number of issued and outstanding Shares from 367,666,444 Shares to 162,672,054 Common Shares. It is anticipated that retirement of the shares will occur at on 8 January 2018 and after this time Shareholders may use 162,672,054 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 interest in, the Company.    

Directors' Interests


Number of Shares prior to the Tender Offer

Percentage of issued capital prior to the Tender Offer

Number of Shares sold under the Tender Offer

Number of Shares following the Tender Offer

Percentage of issued capital following retirement of the Tender Offer shares

James Hills

3,029,957

0.83%

nil

3,029,957

1.86%

Bruno Jactel

2,438,157

0.67%

nil

2,438,157

1.50%

Barrington Marshall Riley

3,723,413

1.02%

nil

3,723,413

2.29%

 

-ends-

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meaning as defined in the Circular.

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

For further information:

 

TyraTech Inc.

Bruno Jactel, Chief Executive Officer

Erica H. Boisvert, Chief Financial Officer

www.tyratech.com

 

Tel: +1 919 415 4340

Tel: +1 919 415 4287

 

SPARK Advisory Partners Limited (Nominated Adviser)

Matt Davis / Mark Brady

 

 

 Tel: +44 20 3368 3552

 

Allenby Capital Limited (Broker)

Chris Crawford

 

 

Tel: +44 20 3328 5656

 

 

Belvedere Communications (PR)

John West / Kim van Beeck

 Tel: +44 20 3567 0510

 


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