NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS
INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION
OF THE MARKET ABUSE REGULATION (EU 596/2014) AS IT FORMS PART OF UK
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS
AMENDED
11 July 2024
Palace Capital
plc
("Palace"
or the "Company")
Result of Tender
Offer
Further to the Tender Offer Circular
dated 13 June 2024 (the "Circular"), the Company is pleased to
announce the result of the Tender Offer.
The Tender Offer was for up to
8,667,760 Ordinary Shares and the Company today announces that a
total of 26,793,801 Ordinary Shares were tendered and therefore the
Tender Offer was oversubscribed. Consequently, 8,667,760 Ordinary
Shares have been accepted pursuant to the Tender Offer,
representing a total aggregate cash consideration of £21,669,400
(the Tender Price is 250 pence per Ordinary Share) and
approximately 23% of the current issued ordinary share capital of
the Company.
All Ordinary Shares repurchased by
the Company pursuant to the Tender Offer will be cancelled and
this is expected to take place by 17 July.
In accordance with the terms of the
Tender Offer provided in the Circular, CREST accounts will be
credited with unsuccessfully tendered uncertificated holdings of
Ordinary Shares not later than 16 July 2024. CREST accounts will be
credited in respect of Tender Offer proceeds for uncertificated
Ordinary Shares by 19 July 2024. For certificated Shareholders,
cheques and balancing share certificates for revised, certificated
holdings in the case of partially successful tenders, will be
despatched by 30 July 2024.
Total Voting Rights
Following the completion of the
Tender Offer, the Company will have 28,892,535 Ordinary Shares in
issue with no Shares held in treasury. Therefore, the total number
of voting rights in the Company will be 28,892,535 and this figure
may be used by Shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
Defined terms used in this
announcement have the meanings given in the Circular, unless the
context otherwise requires.
Enquiries:
Palace Capital plc
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Steven Owen, Executive
Chairman
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info@placecapitalplc.com
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FTI
Consulting
Financial PR
Dido Lawrence, Giles
Barrie
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Tel: 0203 727 1000
|
|
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Deutsche Numis
Broker
Oliver Hardy
Heraclis Economides
|
Tel: 0207 260 1200
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