REG - Bowleven plc - Result of Exit Opportunity

BowlevenAnnouncement

12/09/2024 10:15

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RNS Number : 9577D  Bowleven plc  12 September 2024

 

 

 

12 September 2024

 

PRIOR TO PUBLICATION, THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT WAS
DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK LAW
PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.  UPON THE PUBLICATION
OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.

 

Bowleven plc

("Bowleven" or the "Company")

 

Result of Exit Opportunity

Cancellation of Admission of the Ordinary Shares to Trading on AIM

and

Matched Bargain Facility Arrangements

 

Result of Exit Opportunity

 

Further to the Company's announcement of 9 August 2024, and subsequent
approval by the Shareholders of the Cancellation at the General Meeting on 28
August 2024, Bowleven has been notified that acceptances have been received
from Minority Shareholders holding in aggregate 268,357,452 ordinary shares of
0.1 pence each (the "Ordinary Shares") under the Exit Opportunity, which
closed for acceptances at 1:00 p.m. on 11 September 2024.

 

Following settlement of the transfers of the Ordinary Shares for which
acceptances have been received, which is expected to take place by 25
September 2024, Crown Ocean Capital will be interested in 1,368,345,376
Ordinary Shares, representing 72.6 per cent. of the Company's issued share
capital (excluding shares held in treasury).

 

Cancellation timetable

 

The Company confirms that, in line with the timetable included in the circular
published by the Company on 9 August 2024 (the "Circular"), following the
approval of Shareholders at the General Meeting held on 28 August 2024, the
last day of dealings in the Company's Ordinary Shares on AIM is expected be 23
September 2024 and the admission to trading on AIM of the Company's Ordinary
Shares is expected to be cancelled at 7.00 a.m. on 24 September 2024.

 

Following Cancellation, the Company will re-register as a private company
under the name Bowleven Limited.

 

Matched Bargain Facility Arrangements

 

The Company's Ordinary Shares will be admitted to trading on the JP Jenkins
securities matching platform from 24 September 2024.

 

JP Jenkins provides a securities matching venue for unlisted or unquoted
assets in companies, enabling shareholders and prospective investors to buy
and sell shares on a matched bargain basis. JP Jenkins is a trading name of
InfinitX Limited and Appointed Representative of Prosper Capital LLP
(FRN453007).

 

Shareholders wishing to trade these securities can do so through their
stockbroker. Trades will be conducted at a level that JP Jenkins is able to
match a willing seller and a willing buyer. Trades can be conducted, and
orders can be accepted, during normal business hours. Shareholders or
potential investors can place orders via their existing UK regulated
stockbroker. The indicative pricing for the ordinary Shares (ISIN:
GB00B04PYL99), as well as the transaction history, will be available on the JP
Jenkins website at (https://jpjenkins.com/company/bowleven/
(https://jpjenkins.com/company/bowleven/) ) once the Ordinary Shares are
admitted to the JP Jenkins platform.

 

Capitalised terms used but not otherwise defined in this announcement have the
meanings given to them in the Circular.

 

ENQUIRIES

 

For further information, please contact:

 

 Bowleven plc
 Eli Chahin, Chief Executive                   + 44 20 3327 0150

 Camarco (Financial PR)
 Owen Roberts                                  + 44 20 3757 4980
 Hugo Liddy

 Shore Capital (Nominated Adviser and Broker)
 Daniel Bush                                   + 44 20 7408 4090

 Rachel Goldstein

 

 

 

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