TIDMSMTP
RNS Number : 2036F
Summit Properties Limited
05 March 2020
5 March 2020
Summit Properties Limited
("Summit" or the "Company")
Results of Tender Offer
and
PDMR and PCA Dealings
The Company announces the results of the Tender Offer and the
sale of ordinary shares of no par value ("Ordinary Shares") as a
result of the Tender Offer by certain Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them ("PCAs").
Results of Tender Offer
The Company was authorised to purchase up to 148,275,862
Ordinary Shares. A total of 123,512,832 Ordinary Shares (being
27.74% of the Company's issued share capital of 445,235,204
Ordinary Shares) were validly tendered under the Tender Offer,
representing approximately 83.30% of the number of Ordinary Shares
available to tender, and will be repurchased by the Company under
the Tender Offer and cancelled. The Entitlement of all Shareholders
who have validly tendered their Ordinary Shares will be accepted in
full.
It is expected that cheques will be dispatched, and CREST
accounts will be credited, in respect of successfully tendered
Ordinary Shares will be dispatched by 16 March 2020.
Following the Tender Offer and the cancellation of the
repurchased shares, the Company's share capital in issue will
reduce from 445,235,204 Ordinary Shares to 321,722,372 Ordinary
Shares (the "Reduced ISC"). The Company does not hold any Ordinary
Shares in treasury.
Trading in the Company's Ordinary Shares on AIM will be
cancelled with effect from 7.00 a.m. on Tuesday 17 March 2020.
PDMR and PCA Dealings
Harry Hyman, a director of the Company classified as a PDMR, has
tendered 44,234 Ordinary Shares at the Tender Offer Price.
Following this sale, Harry Hyman holds 88,569 Ordinary Shares,
representing 0.028% of the Reduced ISC.
Anita Hyman, Harry Hyman's wife, classified as a PCA, has
tendered 5,194 Ordinary Shares at the Tender Offer Price. Following
this sale, Anita Hyman holds 10,387 Ordinary Shares, representing
0.003% of the Reduced ISC.
Quentin Spicer, a director of the Company classified as a PDMR,
has tendered 6,546 Ordinary Shares at the Tender Offer Price.
Following this sale, Quentin Spicer holds 13,114 Ordinary Shares,
representing 0.004% of the Reduced ISC.
Christopher Spencer, a director of the Company classified as a
PDMR, has tendered 3,330 Ordinary Shares at the Tender Offer Price.
Following this sale, Christopher Spencer holds 6,670 Ordinary
Shares, representing 0.002% of the Reduced ISC.
Itay Barlev, a director of the Company classified as a PDMR, has
tendered 8,325 Ordinary Shares at the Tender Offer Price. Following
this sale, Itay Barlev holds 16,675 Ordinary Shares, representing
0.005% of the Reduced ISC.
Unifinter, of which Itay Barlev is a director, and being a
wholly-owned subsidiary of Summit Real Estate Holdings Limited of
which Zohar Levy is a director and controlling shareholder, has
tendered 121,701,624 Ordinary Shares at the Tender Offer Price.
Following this sale, Unifinter holds 315,780,803 Ordinary Shares,
representing 98.153% of the Reduced ISC.
The Circular can be viewed on, and downloaded from, the
Company's website at www.summit-properties.com. Terms used but not
defined in this announcement have the same meaning as in the
Circular.
The FCA notifications, made in accordance with the requirements
of the EU Market Abuse Regulation are appended below.
F or further information:
Summit Properties Limited Tel: +44 (0) 1481 700 300
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman Tel: +44 (0) 20 7451 7050
Harry Hyman
Carey Group, Company Secretary Tel: +44 (0) 1481 700 300
Chris Le Page / Tom Lancaster-King
Liberum Capital Limited, Nominated Adviser and Joint Broker Tel: +44 (0) 20 3100 2222
Chris Clarke / Gillian Martin / Owen Matthews
Cenkos Securities, Joint Broker Tel: +44 (0) 20 7397 8900
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Harry Hyman
----------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Non-executive Director
----------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Summit Properties Limited
----------------------- -------------------------------------------
b) LEI 213800KLWIACHRBYR158
----------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of no par value ("Ordinary
of the financial Shares")
instrument,
type of instrument
Identification ISIN number GG00BJ4FZW09
code
----------------------- -------------------------------------------
b) Nature of Tender of Ordinary Shares
the transaction
----------------------- -------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 1.45 euro 44,234
----------
----------------------- -------------------------------------------
Aggregated
d) information
- Aggregated
volume
- Price 44,234
1.45 euro
---------------------------- -------------------------------------------
e) Date of the 05/03/2020
transaction
----------------------- -------------------------------------------
f) Place of London Stock Exchange
the transaction
----------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Anita Hyman
---------------------- --------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Wife of Harry Hyman (Non-Executive Director
of the Company)
---------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------- --------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Summit Properties Limited
---------------------- --------------------------------------------
b) LEI 213800KLWIACHRBYR158
---------------------- --------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of no par value ("Ordinary
of the financial Shares")
instrument,
type of instrument
Identification ISIN number GG00BJ4FZW09
code
---------------------- --------------------------------------------
b) Nature of Tender of Ordinary Shares
the transaction
---------------------- --------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 1.45 euro 5,194
----------
---------------------- --------------------------------------------
Aggregated
d) information
- Aggregated
volume
- Price 5,194
1.45 euro
--------------------------- --------------------------------------------
e) Date of the 05/03/2020
transaction
---------------------- --------------------------------------------
f) Place of London Stock Exchange
the transaction
---------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Quentin Spicer
----------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Non-executive Director
----------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Summit Properties Limited
----------------------- -------------------------------------------
b) LEI 213800KLWIACHRBYR158
----------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of no par value ("Ordinary
of the financial Shares")
instrument,
type of instrument
Identification ISIN number GG00BJ4FZW09
code
----------------------- -------------------------------------------
b) Nature of Tender of Ordinary Shares
the transaction
----------------------- -------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 1.45 euro 6,546
----------
----------------------- -------------------------------------------
Aggregated
d) information
- Aggregated
volume
- Price 6,546
1.45 euro
---------------------------- -------------------------------------------
e) Date of the 05/03/2020
transaction
----------------------- -------------------------------------------
f) Place of London Stock Exchange
the transaction
----------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Christopher Spencer
----------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Non-executive Director
----------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Summit Properties Limited
----------------------- -------------------------------------------
b) LEI 213800KLWIACHRBYR158
----------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of no par value ("Ordinary
of the financial Shares")
instrument,
type of instrument
Identification ISIN number GG00BJ4FZW09
code
----------------------- -------------------------------------------
b) Nature of Tender of Ordinary Shares
the transaction
----------------------- -------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 1.45 euro 3,330
----------
----------------------- -------------------------------------------
Aggregated
d) information
- Aggregated
volume
- Price 3,330
1.45 euro
---------------------------- -------------------------------------------
e) Date of the 05/03/2020
transaction
----------------------- -------------------------------------------
f) Place of London Stock Exchange
the transaction
----------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Itay Barlev
----------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Non-executive Director
----------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Summit Properties Limited
----------------------- -------------------------------------------
b) LEI 213800KLWIACHRBYR158
----------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of no par value ("Ordinary
of the financial Shares")
instrument,
type of instrument
Identification ISIN number GG00BJ4FZW09
code
----------------------- -------------------------------------------
b) Nature of Tender of Ordinary Shares
the transaction
----------------------- -------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 1.45 euro 8,325
----------
----------------------- -------------------------------------------
Aggregated
d) information
- Aggregated
volume
- Price 8,325
1.45 euro
---------------------------- -------------------------------------------
e) Date of the 05/03/2020
transaction
----------------------- -------------------------------------------
f) Place of London Stock Exchange
the transaction
----------------------- -------------------------------------------
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.
END
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