Following the Company’s announcement on 15 March 2019, COLG announces that the Takeover Panel has given a waiver of Rule 9 of the Takeover Code in order to permit the Capital Raising to proceed with the participation of the MBIL Concert Party without a general offer needing to be made by the MBIL concert party on the basis that DV4 Limited, which holds over 50 per cent of the Shares currently in issue, has confirmed that it would not accept such an offer and it would vote in favour of a Whitewash Resolution at a general meeting of the Company. Accordingly, the Company is no longer required to hold a General Meeting.
The Company expects to issue a total of 10,520,000 new Shares, of which 10,120,000 Shares will be issued immediately and 400,000 shares are expected to be issued in the next four weeks. Read the full announcement here.