Result of Tender Offer

RNS Number : 3798S

CLS Holdings PLC

08 September 2010

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN

CLS Holdings plc

('CLS' or 'the Company')

Result of General Meeting and Tender Offer

At the General Meeting of the Company held at 11:00 a.m. on 8 September 2010, the resolution set out in the Notice of General Meeting dated 19 August 2010 was duly passed unanimously by a show of hands.

The votes of those lodged by proxy were as follows:

Special Resolution 1

Votes For                   39,693,711 (99.99%)

Votes Against           3,191 (0.01%)

Votes Withheld       Nil

CLS is pleased to confirm that it has received acceptance for the Tender Offer in full by its shareholders. Tenders for up to and including the pro rata entitlement of 1 Ordinary Share for every 74 Ordinary Shares at 625p per share will be met in full. Tenders received for excess Ordinary Shares will be subject to scale back at the rate of 0.0009999 Ordinary Shares for each excess Ordinary Share tendered over and above the pro rata entitlement of 1 for 74, rounded down to the nearest whole Ordinary Share.

The Ordinary Shares purchased by the Company pursuant to the Tender Offer will be cancelled. Cheques will be dispatched for certificated Ordinary Shares and payment will be made through CREST for uncertificated Ordinary Shares pursuant to the Tender Offer on 14 September 2010.

A copy of the resolution passed at the General Meeting will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do

8 September 2010

ENQUIRIES

CLS Holdings plc

David Fuller

[phone]

Kinmont Limited

Jonathan Gray

[phone]

Notes:

1. The "for" vote includes those giving the Chairman discretion.

2. Votes "withheld" are not counted when deciding if a resolution is carried.

3. The total number of the Company's Ordinary shares in issue, excluding shares held in treasury, at the time of this announcement is 47,226,439.

4. Defined terms used in this announcement shall have the same meaning as set out in the Tender Offer circular and Notice of General Meeting dated 19 August 2010.

 

END

 

 

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