Business
Proposed Tender Offer
Proposed Tender Offer.
About this update from Goodwin Plc
[{"type":"text","content":"\n\n \n5 May 2023\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n \nGoodwin PLC\n(\"Goodwin\", the \"Company\" or the \"Group\")\n \nProposed Tender Offer of up to 180,000 Shares at £48.00 per Ordinary Share\n \nGoodwin PLC (LSE: GDWN), announces that it is proceeding with a Tender Offer pursuant to which Qualifying Shareholders are invited to tender some or all of their Ordinary Shares at the Tender Price of £48.00 per Ordinary Share (\"Tender Price\"). The Tender Offer is for a maximum of 180,000 Ordinary Shares and the Tender Price represents:\n \n· a premium of approximately 25 per cent. to the closing price of £38.55 per Ordinary Share on the Latest Practicable Date; and\n \n· a premium of approximately 23 per cent. to the volume weighted average price per Ordinary Share over the one month to the Latest Practicable Date.\n \nQualifying Shareholders are not required to tender any or all of their Ordinary Shares if they do not wish to do so. Qualifying Shareholders have a Guaranteed Entitlement to tender approximately 2.34 per cent. of the Ordinary Shares held by them at the Record Date, rounded down to the nearest whole number.\n \nThe Company expects to post later today a circular (the \"Circular\") to shareholders to provide information about the background to and reasons for the Tender Offer and why the Board considers that the Tender Offer is in the best interests of the Company and Shareholders as a whole and unanimously recommends they vote in favour of the Resolutions to be proposed at the General Meeting, as the Directors have irrevocably undertaken to do for their respective individual beneficial holdings of, in aggregate, 310,371 Ordinary Shares, representing approximately 4.04 per cent. of the Issued Ordinary Share Capital as at the Latest Practicable Date.\n \nThe implementation of the Tender Offer, along with any subsequent potential share buyback if the Tender Offer is not taken up in full, requires Shareholder approval by way of an ordinary resolution. The Resolutions will be proposed at the General Meeting of the Company to be ...