Better Capital PCC Limited Replacement: Shares Buyback & Capital Distribution (8946S)
29 December 2016 - 3:00AM
UK Regulatory
TIDMBCAP TIDMBC12
RNS Number : 8946S
Better Capital PCC Limited
28 December 2016
This replaces announcement number 6117S released at 10.55 GMT on
22 December 2016. In the second paragraph, the announcement should
have stated that the capital distribution would be made to 2012
Shareholders on the register as at "3 January 2017" and not "30
December 2016". All other information in the announcement remains
unchanged.
Better Capital PCC Limited 2012 Cell
21 December 2016
2012 Shares Buyback and Cancellation and Capital
Distribution
Further to Better Capital PCC Limited's (the "Company") EGM
results announcement on 7 December 2016, the Company has today
entered into the Buyback Contract with BECAP12 Fund LP (the "2012
Fund") to acquire 28,548,278 2012 Shares, representing 50 per cent.
of the 2012 Fund's holding at the purchase price of 37.12 pence per
share, which is calculated in accordance with the circular
approving the buyback as 5% above the average market value of the
2012 Shares for the five business days prior to today's completion
date (the "Shares Buyback"). Following the Shares Buyback, the
Company will immediately cancel all the 2012 Shares it acquired
from the 2012 Fund, reducing the number of 2012 Shares in issue
from 346,600,520 to 318,052,242.
Following the disposal of iNTERTAIN Limited on 7 December 2016,
the Board is pleased to confirm a second distribution of capital of
10.7 pence per share to all 2012 Shareholders on the register as at
3 January 2017. This distribution of GBP34.0 million will be
treated by the Company as a reduction of share capital paid out of
monies attributed to the "share capital account".
The two capital distributions (reductions of share capital)
announced to date for the 2012 Cell total GBP40.1 million, c. 11.3
per cent. of funds raised.
Details of the second distribution are as follows:
-- Ex-date 30 December 2016
-- Record date 3 January 2017
-- Paid date 13 January 2017
For further information, please contact:
Better Capital PCC Limited
Laurence McNairn (Administrator and Company Secretary) +44 (0)1481 716 000
Better Capital LLP
Bonnie Kraus (Director of Finance and Investor Relations) +44
(0)20 7440 0840
Powerscourt
Justin Griffiths +44 (0)20 7549 0999
Numis Securities Limited
Nathan Brown +44 (0)20 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
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