Business
Tender Offer and Notice of General Meeting
Hargreaves Services PLC is proposing a return of capital to shareholders of up to £20 million through a tender offer at 850 pence per ordinary share, an increase from the previously announced £15 million. This offer represents a premium of approximately 16.4% to the recent closing price and allows shareholders an individual basic entitlement to tender around 7.12% of their holdings. The company is also holding a general meeting on April 29, 2026, to seek approval for the resolution required to implement the tender offer, which is expected to result in the cancellation of most repurchased shares, thereby reducing the total number of shares in issue and potentially increasing earnings per share. The company's trading remains in line with market expectations, with recent contract wins boosting the Services business unit. Disclaimer*
About this update from Hargreaves Services Plc
[{"type":"text","content":"\n\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT (TOGETHER THIS \"ANNOUNCEMENT\") IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, SINGAPORE OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION (\"RESTRICTED JURISDICTION\"). PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n27 March 2026\nHARGREAVES SERVICES PLC\n \n(\"Hargreaves\" or the \"Company\")\n \nProposed return of capital of up to £20 million by way of Tender Offer\n at 850 pence per Ordinary Share\nand\nNotice of General Meeting\n----------------------------------------------------------------------------------\nTender Offer\n \nOn 28 January 2026, Hargreaves, a diversified group delivering services to the environmental, infrastructure and property sectors, announced in its interim results statement for the six months ended 30 November 2025, that it intended to return up to £15 million of capital to Shareholders by way of a tender offer. The Company is announcing today that it is proceeding with the Tender Offer at an increased level of £20 million pursuant to which Qualifying Shareholders are invited to tender some or all of their Ordinary Shares (with an Individual Basic Entitlement to tender approximately 7.12 per cent. of the Ordinary Shares held by them at the Tender Offer Record Time, rounded down to the nearest whole number) at a price of 850 pence per Ordinary Share. \n \nThe Tender Price represents a premium of approximately 16.4 per cent. to the closing price of 730 pence per Ordinary Share on the Latest Practicable Date and a premium of approximately 26.9 per cent. to the closing price of 670 pence per Ordinary Share on 27 J...