Business
Result of Tender Offer
Result of Tender Offer.
About this update from Colefax Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\n \nCapitalised terms in this announcement, unless otherwise defined, have the same meanings given to them in the Circular published by the Company and sent to Eligible Shareholders on 1 September 2023 (the \"Circular\").\n \nCOLEFAX GROUP PLC\n(\"Colefax\", the \"Group\" or the \"Company\")\nResult of Tender Offer\n \nPurchase of Own Shares\n \nand\n \nTotal Voting Rights\n \nColefax is pleased to announce the final results of the Tender Offer, details of which were set out in the Circular.\nThe Company confirms that the Tender Price is 700 pence, being the lower of: (i) 700 pence; and (ii) 760 pence, being 105 per cent. of the average closing mid-market price per Share as derived from the London Stock Exchange Daily Official List over the five Business Days immediately preceding 22 September 2023 (being the date on which the Shares are to be purchased). The maximum aggregate number of Shares that could have been purchased pursuant to the Tender Offer was 1,013,254 Shares (representing 14.0 per cent. of the Company's issued ordinary share capital).\nA total of 1,026,365 Shares (representing 14.2 per cent. of the Company's issued ordinary share capital) were validly tendered by Eligible Shareholders under the Tender Offer. Tenders in excess of a Shareholder's Basic Entitlement were only accepted where other Shareholders tendered less than their Basic Entitlement or did not tender any Shares and were scaled back on a pro rata basis (save that tenders from Shareholders who held 1,000 Shares or less were accepted in full). As a result, a total of 1,013,254 Shares will therefore be purchased under the Tender Offer (representing 14.0 per cent. of the Company's issued ordinary share capital). The total value of all Shares purchased is £7.1 million.\nUnder the terms of the Repurchase Agreement, Peel Hunt has a put option exercisable on 22 September 2023 to require the Company to purchase from Peel Hunt the Shares purchased pursuant to the Tender Offer at the Tender Price. The Shares purchased by the Company pursuant to the exercise of the put option will be cancelled (the \"Cancellati...