Admission and Return of Cash

RNS Number : 1769T

Spark Ventures PLC

23 September 2010

 



SPARK Ventures plc

("SPARK" or the "Company")

Admission and Return of Cash

The Company confirms that admission of the Company's New Ordinary Shares to trading on AIM has occurred today and the Return of Cash has become unconditional.

Under the Return of Cash, Shareholders elected (or were deemed to have elected) to receive 183,493,896 B Shares and 227,260,884 C Shares.

Shareholders who receive C Shares will be paid a special dividend of one penny per C Share held which will be paid by 6 October 2010. Following payment the C Shares shall automatically convert into 2010 Deferred Shares, which will be cancelled by the Company. Shareholders who receive B Shares will have them purchased by Collins Stewart as principal pursuant to the Tender Offer for one penny per B Share, with such payment to be made by 6 October 2010. Collins Stewart has a put option to sell such B Shares to the Company for cancellation pursuant to the Repurchase Agreement.

For further information, please contact:

SPARK Ventures plc	Andrew Betton / David Potter	020 7851 7777
Collins Stewart Europe Limited	Stewart Wallace	020 7523 8350

Capitalised terms used in this announcement have the meaning given to them in the circular to Shareholders dated 25 August 2010.

Collins Stewart Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as for the Company and is acting for no-one else in connection with the Return of Cash and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Collins Stewart Europe Limited nor for providing advice in connection with the Return of Cash or any other matter referred to herein.

 

END

 

 

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