Result of Tender Offer

RNS Number : 6163B

CLS Holdings PLC

18 April 2012

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

CLS Holdings plc

('CLS' or 'the Company')

Result of Tender Offer

Following today's announcement regarding the passing of the resolution at the Annual General Meeting authorising the Company to undertake Tender Offers during 2012, CLS is pleased to confirm that it has received acceptances for the Tender Offer, as set out in the Circular dated 16 March 2012, in full from its shareholders.  

Tenders for up to and including the pro rata entitlement of 1 Ordinary Share for every 42 Ordinary Shares at 735p per share will be met in full. Tenders received for excess Ordinary Shares will be subject to scale back at the rate of 0.0023016 Ordinary Shares for each excess Ordinary Share tendered over and above the pro rata entitlement of 1 for 42, 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 27 April 2012.

Enquiries:

CLS Holdings plc                                                                [phone]

David Fuller

Company Secretary

www.clsholdings.com

Kinmont Limited                                                                 [phone]

Jonathan Gray

Notes:

1.   The total number of the Company's Ordinary Shares in issue, excluding shares held in treasury, at the time of this announcement is 44,953,611.

2.   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 16 March 2012.

 

END

 

 

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