Cape Provides Update On Delisting

Announced Date :  Sep 12, 2017

On 8 September 2017, Altrad Investment Authority SAS ("Altrad") announced that the recommended cash offer by its wholly-owned subsidiary, Altrad UK Limited ("Altrad Bidco"), under which Altrad Bidco would acquire the entire issued and to be issued share capital of Cape plc ("Cape") (which does not include the IDC Scheme Share) (the "Offer") had become unconditional in all respects.
 The full terms and conditions and the procedures for acceptance of the Offer are set out in the offer document which was published and sent to Cape shareholders by Altrad Bidco on 1 August 2017 (the "Offer Document").

Altrad Bidco also announced that at 1.00 p.m. (London time) on 7 September 2017, Altrad Bidco had received valid acceptances of the Offer in respect of 94,260,823 Cape Shares, representing approximately 77.83 per cent. of the existing issued share capital of Cape.

Defined terms used but not defined in this announcement have the same meanings as given to them in the Offer Document.


As Altrad Bidco has, by virtue of its acceptances of the Offer, agreed to acquire Cape Shares representing at least 75 per cent. of the voting rights of Cape, Cape confirms that the 20 business days' notice period for the cancellation of listing of Cape Shares on the premium listing segment of the Official List of the Financial Conduct Authority and the trading of Cape Shares on the London Stock Exchange's main market for listed securities has commenced. It is anticipated that the cancellation of listing and trading will take effect on or shortly after 8.00 a.m. (London time) on 9 October 2017.


Cancellation of the admission to trading and of the listing of Cape Shares would significantly reduce the liquidity and marketability of any Cape Shares not assented to the Offer.

You can receive free Monthly news and insights from ResearchViews delivered straight to your inbox – sign up below:

* Indicates Mandatory
*Phone Number:          
  captcha refresh
Enter Captcha Code:    

Send to friend

*Your EmailID:    
*Friend's EmailID:    
  captcha refresh
Enter Captcha Code: