Update re Listing & Potential Return of Capital
Comptoir Group Plc is reviewing its AIM listing venue and considering potential shareholder exits through a return of capital. The company is consulting with major shareholders and, if a cancellation of its AIM quotation is deemed in the best interest of the company, it would seek shareholder approval to implement a return of capital of 4.5p per share, excluding certain individuals from participating. This review is in its early stages, and there is no certainty that any changes will occur.
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Comptoir Group Plc (AIM: COM), the owner and/or operator of Lebanese and Middle Eastern inspired restaurants, announces that the Board has initiated a review of the appropriateness of Comptoir’s current AIM quotation and the potential alternative options available to the Company, including mechanisms to allow potential exits for shareholders, via a return of capital, for investors who would wish to do so in the event of a change to the current arrangements.
The Board intends to seek the views of its major shareholders before concluding the review. If the Board were to conclude that a cancellation of the Company’s current listing on AIM was in the best interests of the Company, the Board would seek authority from the requisite majority of shareholders to cancel the Company’s AIM quotation and would expect to implement a return of capital to shareholders of 4.5p per share (assuming that neither Tony Kitous nor Chaker Hanna participated in the return of capital). Shareholders should note that the extent to which they can participate in any return of capital would depend on the extent to which other shareholders participate in such return of capital
This review remains at an early and exploratory stage. There can be no certainty that it will lead to any changes to the Company's current market arrangements.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.