Result of Tender Offer
09 Marzo 2009 - 1:00AM
UK Regulatory
TIDMPNV5
Pennine VCT 5 plc
Result of Tender Offer
9 March 2009
Pennine AIM VCT 5 plc (the "Company") has pleasure in announcing the
results of the tender offer pursuant to the circular dated 28 January
2009 (the "Circular") under which the Company will purchase up to
1,000,000 million of its ordinary shares at a tender price equivalent
to a 10% discount to the latest published net asset value per share
(the "Tender Offer").
Applications were received to tender 3,895,491 ordinary shares by the
deadline of 1pm on 2 March 2009. As a result, applications will be
scaled back pro rated to the number of shares tendered such that
approximately 25.67% of those shares tendered will be acquired by the
Company.
The Company has announced that its net asset value per share ("NAV")
as at 28 February 2009 stood at 27.0p per share. The tender price
has therefore been determined at 24.30p per share, being a 10%
discount to the latest published NAV.
A special resolution (the "Special Resolution") was passed at the
Annual General Meeting of the Company held on 4 March 2009 approving
the proposals for the Tender Offer and the contract to be entered
into by the Company and those shareholders participating in the
Tender Offer for the purpose of giving effect to the Tender Offer, as
set out in the Circular.
It is intended that the purchase by the Company of the shares to be
acquired under the Tender Offer, and the despatch of consideration
to the relevant shareholders, will be completed by 20 March 2009.
A copy of the Special Resolution has been submitted to the UK Listing
Authority and will be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
For further information, please contact:
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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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