Business
Result of Tender Offer
Result of Tender Offer.
About this update from Nexus Infrastructure Plc
[{"type":"text","content":"\n \n \n 22 March 2023\n \n \n Nexus Infrastructure plc\n \n \n (\"Nexus\" or the \"Company\" or the \"Group\")\n \n \n Result of Tender Offer\n \n \n \n \n \n Nexus Infrastructure plc (\"Nexus\") is pleased to announce the results of the Tender Offer, details of which were set out in the circular published by the Company on 28 February 2023 (the \"Circular\").\n \n \n The maximum aggregate number of Ordinary Shares that could be purchased pursuant to the Tender Offer was 38,650,306 Ordinary Shares, representing 83.7 per cent. of the Company's Issued Share Capital as at the Record Date at a Tender Price of 163 pence.\n \n \n Under the Tender Offer, valid applications to tender shares were received in respect of 37,147,878 Ordinary Shares, equal to 96.1% of the total number of Ordinary Shares subject to the Tender Offer. As such, all valid tenders have been accepted and will be purchased in full. Accordingly, a total of 37,147,878 Ordinary Shares will be purchased under the Tender Offer and subsequently cancelled on 24 March 2023.\n \n \n The total value to be returned to Shareholders pursuant to the Tender Offer will therefore be approximately £60.6 million.\n The target return was approximately £63 million and the surplus £2.4 million of cash will be retained by the Company. Payment of the consideration due to Shareholders whose tender applications under the Tender Offer have been accepted is expected to be despatched (by cheque or by a CREST payment, as appropriate) on or before 3 April 2023.\n \n \n Directors' interests\n \n \n Following completion of the purchase of Ordinary Shares pursuant to the Tender Offer, the Board will be interested in a total of 19.67 per cent. of the Company's total issued Ordinary Shares. The interests of each Director (and their connected persons) will be as follows:\n \n \n \n \n \n \n \n \n \n \n PDMR\n \n \n \n \n \n \n Position\n \n \n \n \n \n \n % of Company's total issued Ordinary Shares prior to Tender Offer\n \n \n \n \n \n \n Number of Ordinary Shares validly tendered\n \n \n \n \n \n \n Number of Ordinary Shares held immediately following the Tender Offer\n \n \n \n \n \n \n % of Company's total issued Ordinary Shares immediately following the Tender Offer\n \n \n \n \n \n \n \n Mike Morris(1)\n \n \n \n \n NED\n \n \n \n \n 21.82%\n \n \n \n \n 8,395,008\n \n \n...