Business
Offer unconditional as to acc
Offer unconditional as to acc.
About this update from Conygar Investment Company Plc
[{"type":"text","content":"\n RNS Number : 8386X Conygar Investment Company PLC(The) 21 August 2009 \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n\n21 August 2009\n\nOffer by\n\nTHE CONYGAR INVESTMENT COMPANY PLC ('CONYGAR' OR 'THE COMPANY')\n\nfor the whole of the issued and to be issued share capital of \n\nTHE ADVANTAGE PROPERTY INCOME TRUST LIMITED ('TAP')\n\n\nOffer unconditional as to acceptances\n\n\nOn 7 August 2009 Conygar announced an offer to acquire the entire issued and to be issued share capital of TAP not already owned by Conygar at the date of the offer.\n\n\nLevels of Acceptances \n\nAs at 1.00 p.m. on 21 August 2009 Conygar had received valid acceptances in respect of 32,768,473 TAP Shares representing approximately 22.96 per cent. of the current issued share capital of TAP.\n\nConygar already holds 41,250,000 TAP Shares, representing approximately 28.9 per cent. of TAP's issued share capital. Accordingly, as at 1.00 p.m. on 21 August 2009 Conygar either owned or had received valid acceptances of the Offer in respect of a total of 74,018,473 TAP Shares representing in aggregate approximately 51.85 per cent. of the current issued share capital of TAP.\n\nThe Offer is now unconditional as to acceptances. However it remains subject to other conditions, including the passing of resolutions to be proposed at the General Meeting of Conygar to be held at 11.00 a.m. on 26 August 2009 at the offices of Wragge & Co LLP, 3 Waterhouse Square, 142 Holborn, London EC1N 2SW.\n\nRobert Ware, Chief Executive of Conygar, said, 'We are pleased that so many TAP shareholders have moved so promptly to accept the offer and to support our strategy for the business. I hope that the Board of TAP notes the wishes of the majority of its shareholders and minimises any further expenditure resisting our bid or indeed pursuing other alternatives.'\n\n\nIrrevocable commitment and letters of intent\n\nConygar has received an irrevocable commitment and letters of intent to accept the Offer in respect of the following numbers of TAP Shares:\n\n\n\n\n\nTAP Shareholder\n\n\n\nNumber of TAP S...