Further to the announcement of Muskita Investments Ltd and MDG Holdings LTd and Mr. Demos Mouski (offerors), dated June 28, 2011, on the start of the squeeze out procedure for the acquisition of the remaining shares of Muskita Aluminium Industries Plc, offerors announces the completion of the procedure (squeeze out).
It is reminded that with the finalization of the Public Offer by the offerors to the shareholders of the company dated June 03, 2011, the Offeror’s shareholding in the share capital of the company stands at 95.74%. The Offerors applied to the Securities and Exchanged Commission for the acquisition of the total shares of the Company with the transfer of the remaining titles via a squeeze out, which was approved by the SEC on July 04, 2011.
The consideration that has been offered for the acquisition of the total shares of the company via the squeeze out was the same as that offered during the Public Offer expired June 03, 2011, that is, €0.84 per share.
According to the Law, on July 28, 2011 has submitted the total consideration to the shareholders of the company on the basis of €0.84 per share together with the accompanying letter. The payment was carried out with the dispatch of the cheques to the beneficiaries and in certain cases with the transfer of the consideration as advised by the beneficiaries.
The Cyprus Stock Exchange has transferred the shares of the company in the name of the Offerors, pursuant to article 36 of the Public Offering Law 2007 and the provisions of the Regulatory Decision KDP96/2008 that governs the squeeze out procedure.
This announcement is released pursuant to article 36(6) of the Public Offering and Takeover Bid Law 2007 and the provisions of the CSE Regulatory Decision KDP96/2008.
It is reminded that with the finalization of the Public Offer by the offerors to the shareholders of the company dated June 03, 2011, the Offeror’s shareholding in the share capital of the company stands at 95.74%. The Offerors applied to the Securities and Exchanged Commission for the acquisition of the total shares of the Company with the transfer of the remaining titles via a squeeze out, which was approved by the SEC on July 04, 2011.
The consideration that has been offered for the acquisition of the total shares of the company via the squeeze out was the same as that offered during the Public Offer expired June 03, 2011, that is, €0.84 per share.
According to the Law, on July 28, 2011 has submitted the total consideration to the shareholders of the company on the basis of €0.84 per share together with the accompanying letter. The payment was carried out with the dispatch of the cheques to the beneficiaries and in certain cases with the transfer of the consideration as advised by the beneficiaries.
The Cyprus Stock Exchange has transferred the shares of the company in the name of the Offerors, pursuant to article 36 of the Public Offering Law 2007 and the provisions of the Regulatory Decision KDP96/2008 that governs the squeeze out procedure.
This announcement is released pursuant to article 36(6) of the Public Offering and Takeover Bid Law 2007 and the provisions of the CSE Regulatory Decision KDP96/2008.
Thursday, 4 August, 2011 - 13:57