Northern Bear Plc Result of Tender Offer (9782U)

TIDMNTBR

RNS Number : 9782U

Northern Bear Plc

29 November 2023

29 November 2023

Northern Bear plc

("Northern Bear," the "Company" or, together with its subsidiaries, the "Group")

Result of Tender Offer

Northern Bear (LSE:NTBR), the AIM quoted holding company of the group of companies providing specialist building and support services headquartered in Northern England and serving customers across the UK, is pleased to announce the results of the Tender Offer, details of which were set out in the circular published by the Company on 23 October 2023 (the "Circular").

Under the Tender Offer, valid applications to tender shares were received in respect of 7,831,399 Ordinary Shares. As the maximum aggregate number of Ordinary Shares that could be purchased pursuant to the Tender Offer was 5,000,000, certain valid applications to tender shares under the Tender Offer will be scaled back and a total of 5,000,000 Ordinary Shares will be purchased by the Company. Payment of the consideration due to Shareholders whose tender applications under the Tender Offer have been accepted is expected to be despatched (by cheque or by a CREST payment, as appropriate) on or before 8 December 2023. A further update regarding the Tender Offer and final allocations will be announced later this week.

The total value to be returned to shareholders of the Company pursuant to the Tender Offer will be GBP3.1 million.

Capitalised terms used but not otherwise defined in this announcement have the meaning given to them in the announcement issued by the Company on 23 October 2023.

For further information, please contact:

 
 Northern Bear PLC 
  Harry Samuel - Interim Non-Executive Chairman 
  Tom Hayes - Finance Director                     [phone] 
 Strand Hanson Limited (Nominated Adviser) 
  James Harris 
  James Bellman                                    [phone] 
 
   Hybridan LLP (Nominated Broker) 
   Clarie Louise Noyce                             [phone] 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

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 [e-mail] 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

RTEEAFFPALSDFAA

(END) Dow Jones Newswires

November 29, 2023 02:00 ET (07:00 GMT)