Business
Result of Tender Offer and Notice of AGM
Result of Tender Offer and Notice of AGM.
About this update from Huddled Group Plc
[{"type":"text","content":"\n\n \n5 June 2023\nLet's Explore Group PLC\n \n(the \"Company\" or the \"Group\")\n \n \nResult of Tender Offer and Notice of AGM\n \n \nResult of Tender Offer\n \nThe Board of Directors of Let's Explore Group PLC (AIM: LETS) is pleased to announce the result of the Tender Offer, details of which were set out in the circular published by the Company on 9 May 2023 (the \"Circular\").\n \nThe maximum aggregate number of Ordinary Shares that could be purchased pursuant to the Tender Offer was 278,019,972 Ordinary Shares, representing 65 per cent. of the Company's issued share capital. The Tender Price was 4.75 pence per Ordinary Share.\n \nIn total, 236,873,162 Ordinary Shares were validly tendered, equal to 55.38% per cent. of the shares in issue as at 2 June 2023. The resulting post Tender Offer share capital will therefore be 190,849,873 Ordinary Shares.\n \nAccordingly, a total of 236,873,162 Ordinary Shares will, therefore, be purchased under the Tender Offer and subsequently cancelled. The total value which will be returned to Shareholders pursuant to the Tender Offer will be approximately £11.25 million.\n \nPayment of the consideration due to Shareholders whose tenders under the Tender Offer have been accepted is expected to be despatched (by cheque or by a CREST payment, as appropriate) along with balance certificates in respect of non-tendered shares, on or before 19 June 2023.\n \nThe Company has received requests from a small number of longstanding overseas shareholders, who were not able to participate in the Tender Offer for regulatory reasons, to be able to sell some of their shares back to the Company. The Company is currently exploring mechanisms to facilitate this using the current on-market buy back authority which will expire on 29 June 2023, to put such shareholders in the same position as the UK based shareholders who were able to participate in the Tender Offer.\n \nThe Company announces that it has been notified that the Directors and PDMRs have tendered the following amounts:\n \n\n\n\n\nDirector/ PDMR\n\n\nNumber of Ordinary Shares held before Tender Offer\n\n\nOrdinary Shares Tendered\n\n\nNumber of Ordinary Shares held post Tender Offer\n\n\nPercentage of issued share capital post Tender Offer\n\n\n\n\nMartin Higginson*\n\n\n40,157,31...