Business
Posting of Offer Response
Posting of Offer Response.
About this update from Alina Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6509S Local Shopping REIT (The) PLC 12 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.\n \nFOR IMMEDIATE RELEASE.\n \n12 March 2019\n \nThe Local Shopping REIT plc (the \"Company\" or \"LSR\")\n \nCircular Rejecting Thalassa's Offer\n \nThe board of The Local Shopping REIT plc (the \"LSR Board\") announces that it is today publishing its response circular (the \"Response Circular\") in relation to the unsolicited offer by Thalassa Holdings Ltd (\"Thalassa\") to acquire the entire issued and to be issued ordinary share capital of the Company not already owned by Thalassa (the \"Offer\").\n \nThe LSR Board reaffirms its previous statement that the Offer represents an opportunistic attempt to take control of LSR Shareholders' money and confirms its commitment to returning cash to LSR Shareholders in accordance with the LSR Investment Policy, approved by LSR Shareholders in 2013. \n \nIn furtherance of this, the Board has convened a General Meeting of the Company to take place on Friday, 5 April 2019, notice of which is contained in the Response Circular, at which the Company's members will be invited to approve an ordinary resolution (the \"Resolution\") authorising the LSR Directors to take appropriate action to liquidate the Company and thus achieve the mandated outcome of the LSR Investment Policy, including petitioning the Court for the winding-up of the Company in the event that Thalassa's Offer lapses or is withdrawn.\n \nThe LSR Board therefore firmly recommends LSR Shareholders to reject Thalassa's Offer, to not complete and return a Form of Acceptance and, instead, to vote in favour of the Resolution at the General Meeting to be held at 10.00 a.m. on 5 April 2019 at the offices of BDO LLP at 150 Aldersgate Street, London EC1A 4AB.\n \nStephen East, non-executive Chairman of The Local Shopping REIT, commented: \n \n\"The LSR Board believes that there are compelling reasons for LSR Shareholders to reject Thalassa's Offer and, instead, vote to authorise the LSR Board to seek a return to them of the cash to which they are entitled, including by petitioning the Court ...