OneSource proposes cancellation of admission to trading on AIM

  • 13 November, 2007
  • Business

On 8 October 2007, OneSource Services, Inc. (the “Company”) announced that the Company was to be acquired by ABM Industries Incorporated (“ABM”) (the “Transaction”).

It is intended that the Company’s shares will cease to be admitted to trading on AIM at 8.00 a.m. on 15 November 2007. It is expected that the Transaction will be completed after the close of business on 14 November 2007.

Upon completion of the Transaction, the Company will be merged with a subsidiary of ABM and the shares in the Company will thereafter represent only a right to receive consideration pursuant to the Transaction. There will be no transfers of the shares in the Company or the depositary interests representing shares in the Company following closing of the Transaction. If certificates representing such shares are presented for transfer to ABM or the merged entity after this time, they will be cancelled and exchanged for the consideration due for such shares pursuant to the Transaction following compliance with the instructions by ABM’s appointed paying agent.

All shareholders in the Company will receive approximately US$84.27 for each share held in the Company upon completion, although shareholders have the option to elect to receive this consideration in sterling with shareholders bearing the risk on the exchange rate. On 22 October 2007, the Company announced a dividend payment of Cockleshell Limited shares. Accordingly, each shareholder in the Company entitled to receive Cockleshell shares at the record date of the dividend payment has received twelve Cockleshell shares for each share held in the Company. Other shareholders at the record date of the dividend payment are being paid approximately US$13.38 in lieu of Cockleshell shares for each share held by them in the Company.

To see the full press release please click here.

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