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NORMANDY LIMITED ANNOUNCES THE RESULTS OF OFFER
Hamilton, Bermuda – December 4, 2017 - In a filing with the Bermuda Stock Exchange (“BSX”), Normandy Limited ("Normandy", the "Company”; Ticker: NORL.BH), announces Results of Tender Offer. The full filing stated:
NORMANDY LIMITED ANNOUNCES THE RESULTS OF OFFER
4 December, 2017 – Normandy Limited (Bermuda – NORL.BH) (the “Company”) announced the Offer on 1 November 2017 for 147,569,577 New Ordinary Shares.
Today, the Company announces that it has received valid subscriptions from Eligible Shareholders and Eligible DI Holders for 114,751,037 New Ordinary Shares representing a seventy-eight percent (78%) subscription of the Offer.
In accordance with the Underwriting Agreement, Lord Ashcroft procured Eligible New Investors for or subscribed for, the remaining 32,818,540 New Ordinary Shares not taken up by Eligible Shareholders or Eligible DI Holders, which together with those taken up by Eligible Shareholders and Eligible DI Holders constitutes a one hundred percent (100%) subscription of the Offer.
Following the completion of the Offer, Lord Ashcroft now beneficially owns 162,880,568 shares in the Company representing 82.78% of the total issued share capital of the Company. The Company expects that the listing of the New Ordinary Shares on the Bermuda Stock Exchange will occur on 6 December 2017 and that the despatch of the share certificates representing the New Ordinary Shares will occur by no later than 11 December 2017. Defined terms in this announcement have the meaning given to them in the circular posted to shareholders on 2 November 2017.
For further information contact:
Normandy Limited at Canon's Court, 22 Victoria Street, Hamilton HM12, Bermuda or send an email to normandycosec@gmail.com.