Town Centre Securities PLC Result of Tender Offer (5838V)
10 Agosto 2022 - 12:59PM
UK Regulatory
TIDMTOWN
RNS Number : 5838V
Town Centre Securities PLC
10 August 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF THAT JURISDICTION
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014
10 August 2022
Town Centre Securities PLC
(The 'Group' or the 'Company')
Results of the Tender Offer
The Company today announces the results of the Tender Offer, as
set out in the shareholder circular published by the Company on 15
July 2022 (the "Circular"), which closed on 8 August 2022.
A total of 4,964,623 Ordinary Shares were validly offered for
tender and, in accordance with the terms and conditions of the
Tender Offer the number of shares purchased will be scaled back in
accordance with the scaling mechanism as set out in paragraphs 2.14
to 2.17 of Part V of the Circular.
Accordingly, 4,000,000 Ordinary Shares will be purchased via the
Tender Offer at a price of 185.0p per Ordinary Share for a total
cost of GBP7.4m. This represents approximately 7.61 per cent. of
the issued share capital of the Company.
It is anticipated that the proceeds payable to the Company's
Shareholders for the certificated Ordinary Shares purchased under
the Tender Offer will be despatched by 24 August 2022 in the form
of a cheque and that CREST account holders will have their CREST
accounts credited by 24 August 2022.
As set out in the Circular, the Ordinary Shares will be
purchased by Liberum pursuant to the Tender Offer and the Company
will purchase such Ordinary Shares from Liberum.
Following such purchase, the Company intends to cancel such
Ordinary Shares, reducing its Issued Ordinary Share Capital from
52,530,599 Ordinary Shares to 48,530,599 Ordinary Shares. This
figure of 48,530,599 may be used by Shareholders as the denominator
for the calculations by which they can determine if they are
required to notify their interest in, or a change to their interest
in, the Ordinary Shares under the FCA's Disclosure Guidance and
Transparency Rules.
Following completion of the purchase of Ordinary Shares pursuant
to the Tender Offer, the Concert Party will be interested in a
total of 54.66 per cent. of the reduced Issued Ordinary Share
Capital. As a consequence, the Concert Party remains free to
purchase additional shares, if required, without being subject to
any obligation to make a general offer under Rule 9 of the Takeover
Code.
Capitalised terms used in this announcement have the meanings
given to them in the announcement of the Company dated 15 July 2022
in respect of the Tender Offer.
ENDS
For further information, please contact:
Town Centre Securities PLC www.tcs-plc.co.uk / @TCS PLC
Edward Ziff, Chairman and Chief Executive 0113 222 1234
Stewart MacNeill, Group Finance Director
MHP Communications
020 3128 8567
Reg Hoare / Pauline Guenot
tcs@mhpc.com
Liberum www.liberum.com
Jamie Richards / Lauren Kettle / Nikhil Varghese 020 3100
2123
Peel Hunt
www.peelhunt.com
Carl Gough / Henry Nicholls 020 3597 8673 / 8640
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
RTEEAEPEFSKAEFA
(END) Dow Jones Newswires
August 10, 2022 06:59 ET (10:59 GMT)
Grafico Azioni Town Centre Securities (LSE:TOWN)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Town Centre Securities (LSE:TOWN)
Storico
Da Dic 2023 a Dic 2024
