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Name | Symbol | Market | Type |
---|---|---|---|
Hemingway 10te | LSE:06HB | London | Debenture |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 102.00 | 94.00 | 110.00 | 0 | 01:00:00 |
RNS Number:9002W Hemingway Properties Ld 9 January 2001 Hemingway Properties Limited Stg 100 million 10.375 per cent. Debenture Stock 2023 (the "stock") Tender for the purchase by Hemingway Properties Limited (the "charging company") of up to Stg 75m of stock Background The charging company and its parent (First Sloane Street Limited (the "parent", and together with the charging company, the "group")) have recently been considering a number of alternatives concerning the stock, so as to provide the group with additional flexibility to pursue its strategy. As a result of a recent approach, these alternatives include the disposal of the charging company, together with all or part of the stock, to a third party, for which discussions are ongoing. The alternatives also include the tender set out below. The Tender Dresdner Kleinwort Wasserstein, on behalf of the charging company, announces a tender by the charging company to all stockholders alike to offer to sell up to Stg 75 million nominal amount of the stock. The tender will be conducted by way of a reverse book-build on a spread basis. Stockholders are invited to submit offers at such price at which the Gross Redemption Yield of the stock (as defined in the conditions of the stock) equals the sum of (i) the Gross Redemption Yield of the 8 per cent. Treasury Stock 2021 (the "reference gilt") and (ii) a spread of between 2.25 per cent. and 2.35 per cent.. For the purposes of calculating the tender price, the Gross Redemption Yield of the reference gilt will be based on the average of the bid and offer prices of the reference gilt quoted by three Gilt Edged Market Makers at or around 10am on 24 January 2001. The charging company and its parent reserve the right to continue discussions with third parties and to dispose of any stock not repurchased via the tender to such third parties. The charging company reserves the right to purchase less than the full amount of the stock tendered, or to purchase no stock. The charging company reserves the right to extend the period of the tender or to make any revision or amendment thereto, provided that if any such revision or amendment is material the charging company will permit stockholders to withdraw any offer to sell stock made by that price at that date. Tender Period and Closing The tender will close at 10am on 19 January 2001 with pricing set at 10am on 24 January 2001 and bargains to settle on 31 January 2001. Contact: Stockholders who wish to tender a bid on these terms should contact Bernard Grundy at Dresdner Kleinwort Wasserstein on +44 20 7475 7024.
1 Year Hemingway 10te Chart |
1 Month Hemingway 10te Chart |
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