Business
Result of Cancellation of ZDP Listing and Buyback
Result of Cancellation of ZDP Listing and Buyback.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n\n9 December 2024\nSancus Lending Group Limited\n(\"Sancus\" or the \"Company\")\nResult of ZDP Share Buyback, Issue of Bonds and Cancellation of Listing of ZDP Shares\nFurther to the Company's announcement on 13 November 2024, the Company today announces the result of the ZDP Share Buyback and an update on the cancellation of listing of the ZDP Shares.\nResult of the ZDP Share Buyback\nFollowing the launch of the ZDP Share Buyback by way of a reverse bookbuild process on 13 November 2024, the Company announces that it has purchased a total of 1,854,910 ZDP Shares at a price of 108 pence per ZDP Share, for a total consideration of £2,003,303. All of the ZDP Shares purchased will be cancelled. No ZDP Shares were acquired by Somerston.\nFollowing the above transaction, the Company has 16,314,551 ZDP Shares in issue, of which 11,894,628 ZDP Shares are held by the Company as treasury shares. The total number of ZDP Share voting rights is therefore 4,419,923.\nThis figure of 4,419,923 may be used by holders of ZDP Shares as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the ZDP Shares under the FCA's Disclosure Guidance and Transparency Rules.\nIssue of Bonds\nAs announced on 13 November 2024, the ZDP Share Buyback was funded by the issue by the Company to Somerston of 8 per cent. unsecured Bonds. Pursuant to a conditional subscription from Somerston, subject to completion of the ZDP Share Buyback, Bonds have been issued to Somerston in an aggregate principal amount of £2,003,303.\nCancellation of Listing of ZDP Shares\nFollowing its announcement on 13 November 2024, the Company confirms that the Cancellation of the ZDP Shares is expected to become effective at 7.00 a.m. on 11 December 2024. Applications have been made to the FCA and the LSE to effect a Cancellation of the ZDP Shares in the non-equity shares and non-voting equity shares category of the Official List and to trading on the Main Market.\nFollowing the Cancellation, in respect of the ZDP Shares, the Company will no longer be subject to the regulatory and statutory regime which applies to companies admitted to listing in the non-equity shares and non-voting equity shares category of the Official List and traded on the Main Market.\nThe Cancellation will not apply to the...