API Group announces cancellation of AIM listing

by JJP

API Cedar 2015 AIM

Posted on Wednesday, March 18, 2015

 

 

API, a global supplier of hot and cold stamping foils and holographic security devices has made the following announcement:

Cedar 2015 Limited (“Cedar”) announced on 9 February 2015 that it had declared its offer for API wholly unconditional. On 5 March 2015, the Independent Board of the Company recommended to shareholders of the Company that they accept the offer made by Cedar. On 16 March 2015, Cedar further announced that it had received valid acceptances under its offer for the Company in respect of approximately 75.1 per cent. of the existing issued ordinary share capital of API.

On 17 March 2015, the Company’s Board of Directors resolved to approve a request from Cedar dated 16 March 2015 that the Company apply to the LSE to cancel the admission of the Company's ordinary shares of 1p each ("Ordinary Shares") to trading on AIM.

The Board wishes to advise shareholders, persons with information rights and participants in the API 2006 Performance Share Plan and the API Joint Share Plan that the application has been made in accordance with Rule 41 of the AIM Rules for Companies and that the cancellation will be effective from 7.00 a.m. on 17 April 2015. It should be noted therefore that the last day of dealings in the Ordinary Shares is expected to be 16 April 2015.


About Jeremy Plimmer

Jeremy Plimmer has 35 years of experience in the security related print and packaging industry working originally as sales development director for manufacturers of passports, high security print and labels and more recently as a consultant. He is a graduate member of the Chartered Institute of Marketing, a Fellow of the Institute of Minerals, Materials and Mining, chairman of the West Midlands Packaging Society as well as vice chairman of the East Midlands Packaging Society.

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About the foundation

The Product & Image Security Foundation is a non-profit making trade association which was originally formed under the name of Label & Tag Security International (LTSI) in the early 1990's.

Today it operates with more than 100 members in 27 countries and is the premier international forum for manufacturers, suppliers and users of labels, tags, packaging, identification systems, materials and systems for any form of product security, brand image protection or product traceability applications and technology.