December 20, 2019 / 5:37 PM / a month ago

BRIEF- AFI Development Updates On Flotonic Offer

Dec 20 (Reuters) - AFI Development:

* IN AGGREGATE FLOTONIC (THE OFFEROR) WOULD BE INTERESTED IN 445,087,436 B ORDINARY SHARES, REPRESENTING 84.97% OF THE TOTAL ISSUED B ORDINARY SHARES OF THE COMPANY

* THE OFFEROR HAS OBTAINED SUFFICIENT VALID ACCEPTANCES AND IRREVOCABLE UNDERTAKINGS TO ACCEPT THE INCREASED B SHARE OFFER AS TO MEET THE DELISTING THRESHOLD

* IT IS ANTICIPATED THAT SUCH CANCELLATION WILL TAKE EFFECT AFTER THE INCREASED B SHARE OFFER BECOMES OR IS DECLARED UNCONDITIONAL IN ALL RESPECTS

* CANCELLATION OF ADMISSION TO TRADING WOULD BE LIKELY TO REDUCE SIGNIFICANTLY THE LIQUIDITY AND MARKETABILITY OF ANY B ORDINARY SHARES IN RESPECT OF WHICH THE INCREASED B SHARE OFFER HAS NOT BEEN ACCEPTED AT SUCH TIME Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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