LMS Capital PLC Result of Tender Offer (7278I)
01 September 2016 - 11:16PM
UK Regulatory
TIDMLMS
RNS Number : 7278I
LMS Capital PLC
01 September 2016
1 September 2016
LMS Capital plc
Results of Tender Offer
LMS Capital plc (the "Company") today announces the results of
the Tender Offer set out in the circular published by the Company
on 27 July 2016 (the "Circular") which closed on 31 August 2016,
with shareholder approval having been given at a general meeting of
the Company held on 16 August 2016.
As announced on 16 August 2016, the Tender Offer Price is 84
pence and the Basic Entitlement is 6.9%.
56,137,433 Ordinary Shares were validly tendered under the
Tender Offer. All valid tenders will be satisfied in full up to the
Basic Entitlement, and, following application of the scale-back
mechanism (as set out in the Circular), approximately 5.3% of the
Ordinary Shares validly tendered in excess of the Basic Entitlement
will also be satisfied. After application of the scaling
provisions, 7,142,857 Ordinary Shares will therefore be purchased.
The total value of all Ordinary Shares purchased is GBP6.0
million.
Following the Tender Offer and Repurchase, members of the
Concert Party will together hold 36.6% of the issued share capital
of the Company.
It is anticipated that the proceeds payable to the Company's
Qualifying Shareholders for the certificated Ordinary Shares
purchased under the Tender Offer will be despatched in the form of
a cheque from 6 September 2016 and that CREST account holders will
have their CREST accounts credited from 6 September 2016.
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 103,584,592 Ordinary
Shares to 96,441,735 Ordinary Shares (of which no Ordinary Shares
are held in treasury).
Capitalised terms used in this announcement (unless otherwise
defined) have the same meaning as ascribed to them in the
Circular.
Enquiries:
LMS Capital plc 020 7935 3555
J.P. Morgan Cazenove 0207 742 4000
Michael Wentworth-Stanley
MHP Communications 020 3128 8100
Jamie Ricketts
Isabelle Grainger
This information is provided by RNS
The company news service from the London Stock Exchange
END
RTEMMGGLFMDGVZM
(END) Dow Jones Newswires
September 01, 2016 09:16 ET (13:16 GMT)