Business
Result of Tender Offer, TVR & Directors' interests
Result of Tender Offer, TVR & Directors' interests.
About this update from Goodwin Plc
[{"type":"text","content":"\n\n31 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 OF THAT JURISDICTION.\n \nGoodwin PLC\n(\"Goodwin\" or the \"Company\")\n \nResult of Tender Offer\nTotal Voting Rights\nand\nDirectors' interests\n \n \nGoodwin (LSE: GDWN) is pleased to announce the result of its Tender Offer, details of which were set out in the circular published by the Company on 5 May 2023 (the \"Circular\").\n \nThe maximum aggregate number of Ordinary Shares that could be purchased pursuant to the Tender Offer was 180,000 Ordinary Shares at the Tender Price of £48.00 per Ordinary Share, for an aggregate maximum consideration of approximately £8.64 million. The Tender Offer closed at 1.00 p.m. on 30 May 2023. Valid tenders were received in respect of 411,371 Ordinary Shares, equal to 229 per cent. of the total number of Ordinary Shares subject to the Tender Offer.\n \nAs the Tender Offer was oversubscribed, not all of the Ordinary Shares that have been validly tendered have been accepted and purchased. The Guaranteed Entitlement therefore applies to each Qualifying Shareholder. Tenders have been accepted on the basis set out in paragraphs 2.15.1 and 2.15.2 of Part IV of the Circular as follows:\n \n· all Ordinary Shares validly tendered up to the Guaranteed Entitlement, for each relevant holding of Ordinary Shares, will be accepted and purchased in full; and\n \n· all Ordinary Shares validly tendered in excess of the Guaranteed Entitlement, for each relevant holding of Ordinary Shares, will be scaled down pro rata to the total number of such Ordinary Shares tendered in excess of the Guaranteed Entitlement, such that the total cost of Ordinary Shares to be purchased pursuant to the Tender Offer does not exceed £8.64 million.\n \nOf the total number of Ordinary Shares validly tendered and purchased by the Company, all 180,000 Ordinary Shares will be cancelled, with effect from on or around 7 June 2023.\n \nIt is expected that CREST accounts will be credited on or around 7 June 2023 for revised uncertificated holdings of Ordinary Shares and Tender Offer proceeds. For Ordinary Shares held in certificated form, it i...