Results of Tender Offer and PDMR Dealings
Updated : 10:29
6 December 2019
Oleeo Plc
("Oleeo" or the "Company")
Results of Tender Offer and PDMR Dealings
Oleeo plc (LSE AIM: OLEE), announces the results of the Tender Offer and sale of ordinary shares of 0.1 pence each ("Ordinary Shares") as a result of the Tender Offer by David Moore and David Earland, who are both classified as PDMRs of the Company.
Results of Tender Offer
The Company was authorised to purchase up to 1,348,124 Ordinary Shares. A total of 846,627 Ordinary Shares (being 11.06% of the Company's issued share capital of 7,651,404 Ordinary Shares) were validly tendered under the Tender Offer, representing approximately 62.80% of the number of Ordinary Shares available to tender, and will be repurchased by the Company under the Tender Offer and cancelled. The entitlement of all Shareholders who have validly tendered their Ordinary Shares will be accepted in full.
It is expected that cheques will be dispatched, and CREST accounts will be credited, in respect of successfully tendered Ordinary Shares and that balancing share certificates in respect of any unsold certificated Ordinary Shares will be dispatched by 16 December 2019.
Following the Tender Offer and the cancellation of the repurchased shares, the Company will reduce its share capital in issue from 7,651,404 Ordinary Shares to 6,804,777 Ordinary Shares in issue (the "Reduced ISC"). The Company does not hold any Ordinary Shares in treasury.
Trading in the Company's Ordinary Shares on AIM will cease at the close of business on Wednesday 11 December 2019, with cancellation of such trading taking effect from 7.00 a.m. on Thursday 12 December 2019.
PDMR Dealings
David Moore, the Company's Technical Director classified as a PDMR, has tendered 10,000 Ordinary Shares at the Tender Offer Price of 165 pence. Following this sale, David Moore holds 5,100 Ordinary Shares, representing 0.07% of the Reduced ISC and options over 40,000 Ordinary Shares.
David Earland, the Company's Operations Director classified as a PDMR, has tendered 9,150 Ordinary Shares at the Tender Offer Price of 165 pence. Following this sale, David Earland holds 11,400 Ordinary Shares, representing 0.17% of the Reduced ISC and options over 42,910 Ordinary Shares.
The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.
Terms used in this announcement have the same meaning as in the Company's circular to Shareholders dated 8 November 2019 ("Circular"). The Circular can be viewed on, and downloaded from, the Company's website at www.oleeo.com.
For further information:
Oleeo Plc
Charles Hipps, Managing Director
Telephone: +44 (0)20 8946 9876
Email: chipps@oleeo.com
Panmure Gordon (UK) Limited
Nominated Adviser and Broker
Alina Vaskina / Justin Gulston / Ryan Lever
Telephone: +44 (0)20 7886 2952
For more information visit: www.oleeo.com
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Names
| David Moore, the Company's Technical Director David Earland, the Company's Operations Director
| ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | See 1(a) above for all positions - all classified as PDMRs of the Company | ||||||||
b) | Initial notification/Amendment | Initial Notification | ||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | Oleeo plc | ||||||||
b) | LEI | 213800COCTT34VO8KL75 | ||||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||
a) | Description of the financial instrument | Ordinary Shares of 0.1 pence each | ||||||||
b) | Identification code | GB0002677085 | ||||||||
c) | Nature of the transactions | Sale of Ordinary Shares as a result of the Tender Offer | ||||||||
d) | Price(s) and volume(s) | David Moore:
David Earland:
| ||||||||
e) | Aggregated information - Aggregated volume - Price |
David Moore: 165p for 10,000 Ordinary Shares sold David Earland: 165p for 9,150 Ordinary Shares sold | ||||||||
f) | Date of the transactions | 5 December 2019 | ||||||||
g) | Place of the transactions | London Stock Exchange |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.