SHAREHOLDERS OF DIMCO PLC
Messrs Panayotis Demetriou, Marios Demetriou, Alexis Demetriou, Michalis Demetriou and Loukia Demetriou (the "Bidders") inform pursuant to the provisions of article 38 of the Takeover Bids Law 2007 as amended (the "Law") that the procedure for the acceptance of the Takeover Bid for the acquisition of up to 100% of the issued capital of Dimco Plc (the "Public Offer") has been completed on August 28, 2015.
On May 29, 2015, date of announcement of submission of the Takeover Bid, the Bidders held directly 79.63% (64,496,409 shares) of Dimco Plc, and indirectly through person who in accordance with the Law shall be deemed to be acting in concert with the bidders an addition at 10,500 shares (0.01 %) of Dimco PLC.
The total acceptance percentage of the Takeover Bid reached 3.785% (3,065,460 shares) and includes the 10,500 shares (0.01 %) of indirect participation of Bidders. In addition 6.95% (5,628,052 shares) of Dimco Plc for which there was an irrevocable commitment to transfer, as indicated in the document of the Public Offer, was transferred to the Bidders during the Public offer period. In addition the Bidders bought 1.28% (1,038,168 shares) in the Cyprus Stock Exchange during the Public Offer period.
The total percentage of acceptance together with the 87.86% (71,162,629 shares) that the Bidders held at the end of the Public Offer on August 28, 2015 provides a total participation to the Bidders of 91.649% (74,228,089 shares) in the share capital of Dimco PLC. It is noted that the final acceptance rate may change in case where during the final review of the Acceptance Forms and the documents required to accompany these forms, it is found that some forms are either incomplete or contain incorrect information and therefore cannot be accepted.
Pursuant to the Public Offer terms, the Bidders, if they acquire more than 90% of the share capital of Dimco Plc, intend to exercise a Squeeze out, pursuant to article 36 of the Law, so as to acquire 100% of the share capital of Dimco PLC. This right is exercised within three months from the expiry of the period of acceptance of the Public Offer. The Bidders intend to exercise this right. In this case, the Bidders intend to apply for the delisting of Dimco Plc from the CSE and, then, will examine the possibility of converting it to a private company.
Messrs Panayotis Demetriou, Marios Demetriou, Alexis Demetriou, Michalis Demetriou and Loukia Demetriou (the "Bidders") inform pursuant to the provisions of article 38 of the Takeover Bids Law 2007 as amended (the "Law") that the procedure for the acceptance of the Takeover Bid for the acquisition of up to 100% of the issued capital of Dimco Plc (the "Public Offer") has been completed on August 28, 2015.
On May 29, 2015, date of announcement of submission of the Takeover Bid, the Bidders held directly 79.63% (64,496,409 shares) of Dimco Plc, and indirectly through person who in accordance with the Law shall be deemed to be acting in concert with the bidders an addition at 10,500 shares (0.01 %) of Dimco PLC.
The total acceptance percentage of the Takeover Bid reached 3.785% (3,065,460 shares) and includes the 10,500 shares (0.01 %) of indirect participation of Bidders. In addition 6.95% (5,628,052 shares) of Dimco Plc for which there was an irrevocable commitment to transfer, as indicated in the document of the Public Offer, was transferred to the Bidders during the Public offer period. In addition the Bidders bought 1.28% (1,038,168 shares) in the Cyprus Stock Exchange during the Public Offer period.
The total percentage of acceptance together with the 87.86% (71,162,629 shares) that the Bidders held at the end of the Public Offer on August 28, 2015 provides a total participation to the Bidders of 91.649% (74,228,089 shares) in the share capital of Dimco PLC. It is noted that the final acceptance rate may change in case where during the final review of the Acceptance Forms and the documents required to accompany these forms, it is found that some forms are either incomplete or contain incorrect information and therefore cannot be accepted.
Pursuant to the Public Offer terms, the Bidders, if they acquire more than 90% of the share capital of Dimco Plc, intend to exercise a Squeeze out, pursuant to article 36 of the Law, so as to acquire 100% of the share capital of Dimco PLC. This right is exercised within three months from the expiry of the period of acceptance of the Public Offer. The Bidders intend to exercise this right. In this case, the Bidders intend to apply for the delisting of Dimco Plc from the CSE and, then, will examine the possibility of converting it to a private company.
Tuesday, 1 September, 2015 - 10:05