Vector Capital plc
("Vector Capital" or
the "Company")
Result of Tender Offer, Total Voting
Rights
and
Directors' interests
Vector Capital announces the results of its
Tender Offer, details of which are set out in the Circular
published on 2 August 2024.
The Tender Offer closed at 1.00 p.m. on 3
September 2024 and valid tenders were received in respect of
10,460,746 Ordinary Shares, representing approximately 23.12 per
cent. of the issued share capital of Vector Capital as at 31 July
2024 (being the latest practicable date prior to publication of
this announcement). Subject to the remaining Tender Conditions
described in paragraph 2 of Part V of the Circular being satisfied,
the 10,460,746 Ordinary Shares validly tendered are expected to be
purchased on 10 September 2024, at the Tender Price of 33 pence per
Ordinary Share. Following which the Ordinary Shares validly
tendered and purchased by the Company, will be cancelled, with
effect from 10 September 2024 ("Cancellation").
CREST accounts will be credited with Tender
Offer proceeds on 10 September 2024. On 10 September 2024 cheques
will be despatched for Tender Offer proceeds in respect of
successfully tendered certificated Ordinary Shares and the balance
of share certificates in respect of unsold certificated Ordinary
Shares will be despatched.
Total Voting
Rights
Following the closing of the Tender Offer and
the Cancellation referred to above, on 13 September 2024, the
Company will have 34,783,639 Ordinary Shares in issue with no
Ordinary Shares held in treasury. Therefore, the total number of
voting rights in the Company will be 34,783,639 which may be used
by Shareholders as the denominator in the calculations by which
they may determine if they are required to notify their interest,
or a change to their interest, in the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Directors' and
PDMR participation in Tender
Certain Directors' and persons discharging
managerial responsibilities ("PDMR") have validly tendered their
Ordinary Shares pursuant to the Tender Offer. Details of which are
set out below:
|
Name
|
Title
|
Number of Ordinary Shares validly
tendered
|
|
Ross Andrews
|
Non-Executive Director
|
263,158
|
|
Total
|
|
263,158
|
Directors'
interests
Following the purchase of the Ordinary Shares
validly tendered and the Cancellation, on 13 September 2024, the
interests of each Director and each PDMR will be as set out
below:
|
Name
|
Title
|
Number of Ordinary Shares held pre the
Tender Offer
|
Number of Ordinary Shares to be held
post the Tender Offer
|
% of Company's total voting rights
immediately following Cancellation
|
|
Agam Jain*
|
Chief Executive Officer
|
34,000,000
|
34,000,000
|
97.7
|
|
Ross Andrews
|
Non-Executive Director
|
263,158
|
Nil
|
Nil
|
|
Total
|
|
34,263,158
|
34,000,000
|
|
*Agam Jain -
22,055,898 Ordinary Shares
Arti Jain -
6,778,806 Ordinary Shares
Pooja Jain -
5,165,296 Ordinary Shares
The Company is scheduled to have its trading in
its shares on AIM cancelled with effect from 7.00am on 16 September
2024.
Defined
Terms
Defined terms in this announcement have the same
meaning as in the Circular (unless otherwise specified).
For further information please
contact:
Vector Capital
plc
Robin Stevens
Agam Jain
c/o IFC Advisory Limited
Zeus Capital
Limited
Hugh Morgan, Darshan Patel
+44 (0) 20 3829 5000
IFC Advisory
Limited
Graham Herring, Florence Chandler, Zach
Cohen
+44 (0) 20 3934 6630
About Vector
Capital:
Vector Capital provides secured,
business-to-business loans to SMEs based principally in England and
Wales. Loans are typically secured by a first legal charge
against real estate. The Group's customers typically borrow for
general working capital purposes, bridging ahead of
refinancing, land development and property acquisition. The loans
provided by the Group are typically for renewable 12-month terms
with fixed interest rates.
The
information contained within this announcement is deemed to
constitute inside information as stipulated under Article 7 of the
Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act
2018.