Business
Statement re Possible Offer
Statement re Possible Offer.
About this update from Conygar Investment Company Plc
[{"type":"text","content":"\n RNS Number : 0652T Conygar Investment Company PLC(The) 29 May 2009 \n \nPROPOSED OFFER FOR THE ADVANTAGE PROPERTY INCOME TRUST LIMITED\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\nFOR IMMEDIATE RELEASE 29 May 2009\n\nTHE CONYGAR INVESTMENT COMPANY PLC\n \nProposed Offer \nby \nTHE CONYGAR INVESTMENT COMPANY PLC \nfor \nTHE ADVANTAGE PROPERTY INCOME TRUST LIMITED\n\nThe Board of The Conygar Investment Company PLC ('Conygar') is pleased to announce a proposed offer to be made by Conygar to acquire the entire issued and to be issued share capital of The Advantage Property Income Trust Limited ('TAP'), subject to the pre-condition, conditions and further terms set out below. \n\nUnder the Proposed Offer, if made, the consideration would comprise, at the option of TAP Shareholders, either:\n\n\n\none New Conygar Share for every five TAP Shares held (the 'Ordinary Share Offer'); or\n\n\n \n\n\none unlisted 25 pence Conygar Zero Coupon Preference Share for each TAP Share held, redeemable on 31 December 2011 and convertible at any stage into one New Conygar Share for every five Conygar Zero Coupon Preference Shares (the 'Preference Share Alternative'); or\n\n\n\n\n\n15 pence in cash per TAP Share (the 'Cash Alternative').\n\n\n\nThe Ordinary Share Offer values each TAP Share at 21.8 pence and values the entire issued share capital of TAP at approximately £31.1 million, based on the closing price of 109 pe...