TIDMPIN
RNS Number : 5228Q
Pantheon International PLC
18 October 2023
For immediate release
FOR DISTRIBUTION ONLY OUTSIDE THE UNITED STATES TO PERSONS OTHER
THAN U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED). THE INFORMATION
CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR
PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN PART IN THE
UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF
SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE ITS RELEASE,
PUBLICATION OR DISTRIBUTION IS OR MAY BE UNLAWFUL. THE INFORMATION
CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR
SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA,
AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. THIS ANNOUNCEMENT
DOES NOT CONSTITUTE AN INVITATION TO PARTICIPATE IN THE TENDER
OFFER (AS DEFINED HEREIN) IN OR FROM ANY JURISDICTION IN OR FROM
WHICH, OR TO OR FROM ANY PERSON TO OR FROM WHOM, IT IS UNLAWFUL TO
MAKE SUCH OFFER UNDER APPLICABLE SECURITIES LAWS OR OTHERWISE.
This release contains inside information within the meaning of
Article 7(1) of the EU Market Abuse Regulation (2014/596/EU), or EU
MAR, and of the UK version of EU MAR as it forms part of UK law by
virtue of the European Union (Withdrawal) Act (as amended).
PANTHEON INTERNATIONAL PLC
("PIP" or the "Company")
RESULT OF TENDER OFFER AND ANNOUNCEMENT OF STRIKE PRICE
18 October 2023
Introduction
The Company announces that the Tender Offer for up to GBP150
million in value of the Company's Ordinary Shares closed at 1:00
p.m. on 17 October 2023.
Result of Tender Offer & Strike Price
A total of 49,180,327 Ordinary Shares will be acquired by the
Company in the Tender Offer.
The Strike Price for the Tender Offer is 305 pence per Ordinary
Share. The Strike Price was determined on the basis of the numbers
of Ordinary Shares validly tendered at each tender price, as
described in the Circular.
48,145,173 Ordinary Shares were validly tendered below the
Strike Price and have been accepted in full at the Strike Price.
Valid tenders of 7,340,212 Ordinary Shares were made at the Strike
Price and have been scaled back pro rata, adjusted to avoid
fractions. PIP will accept for purchase approximately 14.1% of
Ordinary Shares validly tendered at the Strike Price. Shares
tendered above the Strike Price, and therefore not acquired by the
Company in the Tender Offer, will be returned to their holders.
All Ordinary Shares acquired by the Company will be
cancelled.
Terms used in this announcement have the same meaning as set out
in the Company's circular in respect of the Tender Offer (the
"Circular") published on 25 September 2023. Shareholders should
refer to the Circular for the full terms of the Tender Offer.
Expected Timetable
Announcement of results of 18 October 2023
the Tender Offer and the Strike
Price
Purchase date of the tendered 19 October 2023
Ordinary Shares
-----------------
Crediting of CREST accounts 19 October 2023
for any Ordinary Shares not
purchased in the Tender Offer
-----------------
Settlement of the Tender Offer 26 October 2023
consideration in CREST and
despatch of cheques
-----------------
Despatch of balance share certificates 26 October 2023
-----------------
The dates set out in the expected timetable may be adjusted by
the Company, in consultation with the Joint Tender Managers, in
which event details of the new dates will be notified to
Shareholders via an announcement through a regulatory information
service in the United Kingdom. All references are to London
time.
Contacts
Chair (via Company Secretary)
Link Alternative Fund Administrators Limited
Nezia Morgan +44 (0)7702 965 986
Pantheon
Helen Steers / Vicki Bradley +44 (0)20 3356 1800
Jie Gong +852 3718 9605
Investec Bank plc (Joint Corporate Broker and Joint Tender
Manager for the purposes of the Tender Offer)
Lucy Lewis +44 (0)20 7597 4000
Tom Skinner
J.P. Morgan Cazenove (Joint Corporate Broker and Joint Tender
Manager for the purposes of the Tender Offer)
William Simmonds +44 (0)20 3493 8000
Rupert Budge
Montfort Communications
Gay Collins / Pippa Bailey / Nita Shah +44 (0)7738 912267
PIP@montfort.london
PIP
PIP is a listed FTSE 250 private equity investment trust,
overseen by an independent Board of Directors and managed by
Pantheon, one of the leading private equity investment managers
globally. PIP offers investors a liquid, differentiated entry point
to the excellent growth potential of global private equity, with
access to the primary, secondary and co-investment opportunities of
some of the best managers in the world. The Company has a track
record of NAV outperformance over the long term and manages risk
strategically through diversification and rigorous selection based
on Pantheon's extensive experience and international platform, and
robust investment due diligence and decision-making processes.
Pantheon
PIP is managed and advised by Pantheon, a leading global private
equity, infrastructure & real assets and private debt investor
with 40 years' experience sourcing and executing private market
investment opportunities on behalf of clients. Pantheon has $93.4
billion in AUM^ (as at 31 March 2023) and employs 455 staff
including 134 investment professionals (as at 30 June 2023), across
offices in London, San Francisco, New York, Chicago, Hong Kong,
Seoul, Bogotá, Tokyo, Dublin and Berlin.
^This figure includes assets subject to discretionary or
non-discretionary management, advice or those limited to a
reporting function.
Important Information
A copy of this announcement will be available on the Company's
website at www.piplc.com . Neither the content of the Company's
website, nor the content on any website accessible from hyperlinks
on its website for any other website, is incorporated into, or
forms part of, this announcement nor, unless previously published
by means of a recognised information service, should any such
content be relied upon in reaching a decision as to whether or not
to acquire, continue to hold, or dispose of, securities in the
Company.
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END
RTEEAXEPFFSDFEA
(END) Dow Jones Newswires
October 18, 2023 03:18 ET (07:18 GMT)
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