Cancellation of Trading on AIM

RNS Number : 0065D

Alkane Energy PLC

22 October 2015

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART), DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

22 October 2015

RECOMMENDED CASH OFFER

by

BARBICAN BIDCO LIMITED

(a company controlled by Balfour Beatty Infrastructure Partners, L.P.)

for

ALKANE ENERGY PLC

Cancellation of Trading on AIM

Barbican Bidco Limited ("Barbican") announced on 14 October 2015 that it had declared its offer for Alkane Energy plc (the "Company") unconditional in all respects (the "Offer").  In accordance with AIM Rule 41, on 16 September 2015 the Company gave notice that it intended to cancel the admission of its ordinary share of 0.5p each ("Ordinary Shares") to trading on AIM, a market of the London Stock Exchange plc, ("Cancellation") at least 5 business days after the Offer was declared unconditional in all respects. The Company announces that application has now been made for Cancellation with effect from 7.00 a.m. on 29 October 2015.  The last day of dealings in the Ordinary Shares is therefore expected to be 28 October 2015.

Subject to the Cancellation, Barbican intends to procure that Alkane will be re-registered as a private company under the relevant provisions of the Companies Act 2006.

Alkane shareholders are strongly recommended to accept the Offer as the Cancellation will significantly reduce the liquidity and marketability of any Ordinary Shares in respect of which acceptances of the Offer are not submitted and, accordingly, it is likely that the value of any such Ordinary Shares would be significantly affected.

Alkane Energy plc Neil O'Brien/Steve Goalby	Tel: [phone]
Liberum Clayton Bush/Joshua Hughes	Tel: [phone]

Further information

This announcement is for information only and is not intended to and does not constitute, or form part of, any offer to sell or invitation to purchase or subscribe for any securities, or any solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise.  The Offer is effected solely through the offer document (the "Offer Document") posted to Alkane Shareholders on 17 September 2015, which, together with the Form of Acceptance (in relation to  Alkane Shareholders holding shares in certificated form only) contains the full details, terms and conditions of the Offer, including the details of how to accept the Offer.  This announcement has been issued by and is the sole responsibility of Barbican.

Unless otherwise defined in this announcement, capitalised words and phrases used in this announcement shall have the same meanings given to them in the Offer Document.

A copy of this announcement will be available subject to certain restrictions relating to persons resident in the United States, Canada, Australia and Japan on www.bbip.com and on www.alkane.co.uk by no later than 12 noon on 23 October 2015.

Overseas Shareholders

The Offer is not being made, directly or indirectly, in or into, or by use of the mails, or by any means or instrumentality (including, without limitation, by means of telephone, facsimile, telex, internet or other forms of electronic communication) of interstate or foreign commerce of, or any facilities of a securities exchange of, the United States, Canada, Australia or Japan, and the Offer will not be capable of acceptance by any such use, means, instrumentality or facility or from within the United States, Canada, Australia or Japan.  Accordingly, copies of this announcement and any other related document will not be, and must not be, directly or indirectly, mailed or otherwise distributed or sent in or into the United States, Canada, Australia or Japan and persons receiving such documents (including custodians, nominees and trustees) must not distribute or send them in, into or from such jurisdictions as doing so may violate the laws of such jurisdictions and may make invalid any purported acceptance of the Offer by persons in any such jurisdiction.

This announcement has been prepared for the purpose of complying with English law, the AIM Rules, the rules of the London Stock Exchange and the Takeover Code, and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the UK.

 

END

 

 

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