CLS Holdings Regulatory News (CLI)

15 Apr 2005 07:00

CLS Holdings PLC15 April 2005 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THEUNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN CLS Holdings plc ("CLS" or "the Company") Proposed purchase of 1 in every 41 ordinary shares of 25p each in the Company("Ordinary Shares") at 485 pence per share by way of a tender offer ("the Tender Offer") On 25 February 2005, the board of CLS announced in its preliminary results forthe year to 31 December 2004 that the Company intends to purchase 1 in every 41Ordinary Shares by way of a tender offer at 485p per share. CLS is today posting a circular to shareholders in relation to the Tender Offeron the terms set out above. The Tender Offer is being made in lieu of the finaldividend for the year to 31 December 2004. If the maximum number of 2,045,926Ordinary Shares under the Tender Offer is acquired, this will result in anamount of £9,922,741 being paid by the Company to participating shareholders. The Tender Offer is open to all shareholders on the Company's register at 5.00p.m. on 9 May 2005, who may participate by tendering all or a proportion oftheir holdings of Ordinary Shares at the above price. No Ordinary Shares will bepurchased in relation to the Tender Offer unless the relevant resolutions to beproposed at the annual general meeting of the Company to be held on 10 May 2005(the "AGM") are passed. The Tender Offer will be void if less than 0.1 per cent.of the issued ordinary share capital of the Company (excluding treasury shares)in aggregate is tendered. Acceptances of the Tender Offer, which may only be made on the tender formaccompanying the circular to shareholders, should be returned as soon aspossible and, in any event, so as to be received by 5.00 p.m. on 9 May 2005, thelatest time and date for receipt of the tender forms. Forms of proxy for the AGMmust be completed and returned so as to reach the Company's registrars by notlater than 2.00 p.m. on 9 May 2005. Enquiries: CLS Holdings plcSten Mortstedt Executive Chairman 020 7582 7766Tom Thomson Chief Executive and Vice Chairman 020 7582 7766 This information is provided by RNS The company news service from the London Stock Exchange