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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Svg Cap. | LSE:SVI | London | Ordinary Share | GB0007892358 | ORD GBP0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 735.00 | 739.50 | 740.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSVI
RNS Number : 3793X
SVG Capital PLC
21 February 2017
SVG Capital plc
Kean House
6 Kean Street
London WC2B 4AS
Tel +44(0)20 3457 0000
Fax +44 (0)20 3457 0010
Press Release
For immediate release 21 February 2017
Announcement of Results of Tender Offer
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
SVG Capital plc (the "Company")
21 February 2017
Results of Tender Offer
The Company today announces the results of the Tender Offer set out in the shareholder circular published by the Company on 23 January 2017 (the "Circular") and which closed on 20 February 2017.
78,712,078 Ordinary Shares were validly tendered and, following application of the scale-back mechanism (as set out in the Circular), 41,958,041 Ordinary Shares will be purchased at a price per Ordinary Share of 715 pence, for a total cost of GBP299,999,993.15. This represents approximately 39.06 per cent. of the issued share capital of the Company. Shareholders who tendered more than their Individual Basic Entitlement (being 39.06 per cent. of their holdings of Ordinary Shares as at the Tender Offer Record Date) were scaled back by 89.8080502644651 per cent. of the number of excess shares tendered.
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 28 February 2017 in the form of a cheque and that CREST account holders will have their CREST accounts credited by 23 February 2017.
As set out in the Circular, the Ordinary Shares will be purchased by J. P. Morgan Cazenove pursuant to the Tender Offer and the Company will buy-back such Ordinary Shares from J.P. Morgan Cazenove. The Company intends to cancel such Ordinary Shares, reducing its total issued share capital from 107,403,041 Ordinary Shares to 65,445,000 Ordinary Shares.
Capitalised terms used in this announcement have the same meaning as ascribed to them in the Circular.
For further information please contact:
SVG Capital plc
Stuart Ballard: 020 3457 0090
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
February 21, 2017 02:01 ET (07:01 GMT)
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