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Eredene Capital PLC (ERE)

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Tuesday 14 August, 2012

Eredene Capital PLC

Result of General Meeting

RNS Number : 0056K
Eredene Capital PLC
14 August 2012

Date:                           14 August 2012

On behalf of:               Eredene Capital PLC ("Eredene" or the "Company")

                                    For immediate release



Eredene Capital PLC

Result of General Meeting


Eredene Capital PLC (AIM: ERE), the AIM quoted investor in Indian infrastructure, announces that at the General Meeting of the Company held at 2.30pm today, the Resolution set out in the announcement dated 13 July 2012 to approve the proposed tender offer described in a circular of the same date was duly passed. 


The Board also announces that a total of 401,455,486 shares were tendered under the Tender Offer. As a result, the Basic Entitlement of all Shareholders who have validly tendered their shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 1.03 per cent. of the excess shares tendered. Therefore 84,912,272 shares will be repurchased at 18 pence per share by the Company under the Tender Offer and subsequently cancelled.


Payment of the consideration due to Shareholders whose tenders under the Tender Offer have been accepted is expected to be despatched (by cheque or by a CREST payment, as appropriate) on 16 August 2012.  Balance certificates will be despatched in respect of non-tendered shares in the week commencing 20 August 2012.


Following the implementation of the Tender Offer and the cancellation, the Company will have 361,994,426 Shares in issue.


Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.




Eredene Capital PLC

Alastair King (Chief Executive)                                                           Tel: +44 20 7448 8000

Brian Mooney                                                                                      Tel: +44 7808 162 458


Numis Securities Limited (Nominated Advisor & Joint Broker)      Tel: +44 20 7260 1000

Heraclis Economides / David Benda


Arden Partners plc (Joint Broker)                                                    Tel: +44 20 7614 5917

Chris Hardie / Justine Waldisberg


Redleaf Polhill         

Henry Columbine / Rebecca Sanders-Hewett / David Ison               Tel: +44 20 7566 6720

[email protected] 


Notes to Editors:

§ Eredene Capital PLC is a leading UK-based AIM quoted investor in infrastructure projects in India. It focuses primarily on ports, port services, logistics and transportation.

§ The Eredene Group has made investments of £47.5m in 11 projects in India - nine in ports and port services, logistics and distribution warehouses, one in an IT office and one in a large-scale, affordable housing development. Seven of its investee companies are revenue generating, of which two are dividend paying.

§ Eredene trades on the Alternative Investment Market ("AIM") of the London Stock Exchange.


This information is provided by RNS
The company news service from the London Stock Exchange

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