CLR Investment Fund Public Ltd announces that the Public Offer for the acquisition of up to 100% of the issued share capital of Europrofit Capital Investors Public Ltd, submitted on October 16, 2012, has been finalized.
Following the final check of the Acceptance Forms, the total rate of acceptance by the shareholders of ERP stood at 1.59% of the share capital of ERP, since the acceptances that were submitted were for 497,693 shares. The total rate of acceptance together with the 91.78% of the ERP share capital held by the Offerors at the expiry of the Public Offer on December 28, 2012 gives a total participation of 93.37% in the share capital of ERP.
The payment of the consideration of €0.025 per share cash to the shareholders who accepted the Public Offer was completed by the Offeror on January 10, 2013 and the transfer procedure was finalized via Global Capital Securities and Financial Services Ltd on February 27, 2013.
Pursuant to the issue terms of the Public Offer, the Offeror, if it acquires more than 90% in the share capital of the Company, it intends to exercise its right - pursuant to article 36 – of a squeeze out so as to acquire 100% of the ERP shares. This right is exercised within three months from the expiry of the period of acceptance. The Offeror’s intention is to exercise a squeeze out immediately. In thus case, the Offeror intends to apply for the delisting of ERP from the Cyprus Stock Exchange while it will examine the possibility of its conversion in private company.
Following the final check of the Acceptance Forms, the total rate of acceptance by the shareholders of ERP stood at 1.59% of the share capital of ERP, since the acceptances that were submitted were for 497,693 shares. The total rate of acceptance together with the 91.78% of the ERP share capital held by the Offerors at the expiry of the Public Offer on December 28, 2012 gives a total participation of 93.37% in the share capital of ERP.
The payment of the consideration of €0.025 per share cash to the shareholders who accepted the Public Offer was completed by the Offeror on January 10, 2013 and the transfer procedure was finalized via Global Capital Securities and Financial Services Ltd on February 27, 2013.
Pursuant to the issue terms of the Public Offer, the Offeror, if it acquires more than 90% in the share capital of the Company, it intends to exercise its right - pursuant to article 36 – of a squeeze out so as to acquire 100% of the ERP shares. This right is exercised within three months from the expiry of the period of acceptance. The Offeror’s intention is to exercise a squeeze out immediately. In thus case, the Offeror intends to apply for the delisting of ERP from the Cyprus Stock Exchange while it will examine the possibility of its conversion in private company.
Thursday, 28 February, 2013 - 14:58