Religare Capital Markets receives 97.76% shares of Hichens

Religare Capital Markets International UK (RCMI UK) Ltd an indirect wholly owned subsidiary of Religare Capital Markets Ltd (RCML) declares acceptance of its open cash offer for Hichens, Harrison & Co Plc unconditional in all respects.Valid acceptance of the Offer have been received in respect of a total of l7,006,441 Hichens Shares, representing approximately 97.76 per cent of the existing issued share capital of Hichens.As RCMI (UK) has attained in excess of 90 per cent of the voting rights attaching to Hichens Shares, RCMI (UK) is taking steps to procure the application by Hichens for the cancellation of the admission of Hichens Shares to the AIM Market.The cancellation of the admission of Hichens Shares to the AIM Market would significantly reduce the liquidity and marketability of any Hichens Shares that are not acquired by RCMI (UK). It is RCMI (UK)'s intention that, after such cancellation, Hichens will be re-registered as a private company under the relevant provisions of the Companies Act 1985 or the Companies Act 2006 as appropriate.