Business
Result of Tender Offer
Result of Tender Offer.
About this update from Northern Bear Plc
[{"type":"text","content":"\n\n29 November 2023\nNorthern Bear plc\n(\"Northern Bear,\" the \"Company\" or, together with its subsidiaries, the \"Group\")\n \nResult of Tender Offer\nNorthern Bear (LSE:NTBR), the AIM quoted holding company of the group of companies providing specialist building and support services headquartered in Northern England and serving customers across the UK, is pleased to announce the results of the Tender Offer, details of which were set out in the circular published by the Company on 23 October 2023 (the \"Circular\").\nUnder the Tender Offer, valid applications to tender shares were received in respect of 7,831,399 Ordinary Shares. As the maximum aggregate number of Ordinary Shares that could be purchased pursuant to the Tender Offer was 5,000,000, certain valid applications to tender shares under the Tender Offer will be scaled back and a total of 5,000,000 Ordinary Shares will be purchased 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 8 December 2023. A further update regarding the Tender Offer and final allocations will be announced later this week.\nThe total value to be returned to shareholders of the Company pursuant to the Tender Offer will be £3.1 million.\nCapitalised terms used but not otherwise defined in this announcement have the meaning given to them in the announcement issued by the Company on 23 October 2023.\n\nFor further information, please contact:\n\n\n\n\nNorthern Bear PLC\nHarry Samuel - Interim Non-Executive Chairman\nTom Hayes - Finance Director\n\n\n+44 (0) 166 182 0369\n \n \n \n\n\n\n\nStrand Hanson Limited (Nominated Adviser)\nJames Harris\nJames Bellman\n\n\n+44 (0) 20 7409 3494\n\n\n\n\n \nHybridan LLP (Nominated Broker)\nClarie Louise Noyce\n\n\n+44 (0) 20 3764 2341\n \n\n\n\n\n \n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.\n\n","length":4923,"tagName":"div"}]