Admission and Return of Cash

RNS Number : 0252W

Spark Ventures PLC

21 January 2013

 



SPARK Ventures plc

("SPARK" or the "Company")

Admission and Return of Cash

The Company confirms that admission of 450,000,000 New Ordinary Shares in the capital of the Company 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 299,923,552 B Shares and 150,076,448 C Shares.

Shareholders who receive C Shares will be paid a special dividend of 2.5 pence per C Share held which will be paid by 28 January 2013. Existing Ordinary Shares held in treasury will receive C Shares but no dividend. Following payment the C Shares shall automatically convert into 2013 Deferred Shares, which will be cancelled by the Company. Shareholders who receive B Shares will have them purchased by finnCap as principal pursuant to the Tender Offer for 2.5 pence per B Share, with such payment to be made by 28 January 2013. finnCap has exercised 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
finnCap	Matt Goode / Christopher Raggett	020 7220 0500

Capitalised terms used in this announcement have the meaning given to them in the circular to Shareholders dated 19 December 2012.

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

 

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