CLS Holdings PLC
10 November 2000
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR
IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA,
SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN
CLS Holdings plc ('CLS', or the 'Company') - Proposed
purchase of up to 1,850,387 Ordinary Shares by way of a
tender offer (the 'Tender Offer')
The board of CLS announced in its interim report on 20
July 2000 that the Company intended to purchase 1 in every
60 Ordinary Shares by way of a tender offer at 235p per
share.
It is today posting a circular to Shareholders in relation
to the Tender Offer on the same terms as those set out
above. The Tender Offer is being made in lieu of a
dividend for the six month period ended 30 June 2000. If
the maximum number of 1,850,387 Ordinary Shares under the
Tender Offer are acquired, this will result in an amount
of £4,348,409 being paid by the Company.
The Tender Offer is open to all Shareholders on the
Company's register at the close of business on 7 November
2000, who may participate by tendering all or a proportion
of their holdings of Ordinary Shares at that price. No
Ordinary Shares will be purchased in relation to the
Tender Offer unless the resolutions to be proposed at the
extraordinary general meeting of the company to be held on
4 December 2000 (the 'EGM') are passed. The Tender Offer
will be void if less than 0.1 per cent. of the issued
ordinary share capital of the Company in aggregate is
tendered.
Acceptances of the Tender Offer should be returned as soon
as possible and, in any event, so as to be received by
4.00 p.m. on 2 December 2000, the latest time and date for
receipt of the Tender Forms and forms of proxy for the
EGM.
Enquiries:
CLS Holdings plc
Sten Mortstedt Executive Chairman 020 7582 7766
Glyn Hirsch Chief Executive 020 7582 7766
The CLS Directors accept responsibility for the
information contained in this announcement. To the best
of the knowledge and belief of the CLS Directors (who have
taken all reasonable care to ensure that such is the
case), the information contained in this announcement for
which they are responsible is in accordance with the facts
and does not omit anything likely to affect the import of
such information.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.