Business
Posting of Offer by Thalassa Holdings Ltd
Posting of Offer by Thalassa Holdings Ltd.
About this update from Alina Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 0952S Local Shopping REIT (The) PLC 07 March 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (IN WHOLE OR IN PART), IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A TAKEOVER OFFER OR AN OFFER OF SECURITIES.\n \nFOR IMMEDIATE RELEASE.\n \n7 March 2019\n \nThe Local Shopping REIT plc (the \"Company\")\n \nFirm Offer for the Company by Thalassa Holdings Ltd\n \nThe board of The Local Shopping REIT plc the \"Board\") notes the announcement by Thalassa Holdings Ltd (\"Thalassa\") dated 6 March 2019 that the offer document containing details of its offer for the entire issued and to be issued share capital of the Company not already owned by Thalassa (the \"Offer\") has been posted to the Company's shareholders.\n \nThe Board believes that the Offer represents an opportunistic attempt to take control of shareholders' money. The Board reiterates its commitment to returning cash to shareholders in accordance with its stated investment strategy, approved by shareholders in 2013, and notes that the cash element of the consideration to be provided by Thalassa under the Offer is significantly less than the amount that the Company would have sought to return to shareholders through the members' voluntary liquidation at the end of 2018, which was opposed by Thalassa.\n \nThe balance of the Offer is in new ordinary shares in the capital of Thalassa, which the Board considers are subject to a number of risks and uncertainties. \n \nThe Board will write to shareholders shortly with its more detailed views on the Offer, including further proposals for seeking to return cash to shareholders. Until then, the Board strongly recommends shareholders take no action regarding the Offer. \n \nThe attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Takeover Code, which continue to apply to the Company, and which are summarised below.\n \nEnquiries:\n \nThe Local Shopping REIT plc\nWilliam A Heaney\nCompany Secretary\n020 7355 8800\n \nBDO LLP (Independent Rule 3 Adviser to the Company)\nJohn Stephan\nSusan Jarram\n020 7486 5888\n \nTavistock (Financial PR)\nJeremy Carey\nSimon Hud...