Business
Results of Meetings and of ZDP Tender Offer
Results of Meetings and of ZDP Tender Offer.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n\n24 June 2025\n \nSancus Lending Group Limited\n(\"Sancus\" the \"Company\" or the \"Group\")\n \nResults of Meetings,\nResult of Tender Offer,\nIssue of New Bonds\nand\nAmendments to Bonds\n \nFurther to the Company's announcement on 4 June 2025, Sancus Lending Group Limited (AIM: LEND) is pleased to announce that all resolutions proposed at the Meetings, held earlier today, were duly passed by the requisite majorities. The Company also announces the result of the Tender Offer for ZDP Shares.\n \nResults of the Meetings\n \nAt the ZDP Class Meeting, ZDP Shareholders approved the proposed amendments to the terms of the ZDP Shares, including the extension of the maturity date to 5 December 2030 and the suspension of further capital growth from 24 June 2025.\n \nAt the Ordinary Class Meeting, Ordinary Shareholders approved the ZDP Amendments.\n \nAt the Extraordinary General Meeting, both resolutions were passed for: (i) approval of the adoption of the New Articles to give effect to the ZDP Amendments; and (ii) approval for the Company to undertake the repurchase of ZDP Shares pursuant to the Tender Offer and to authorise future repurchases. Following the passing of the resolutions, the ZDP Amendments are effective immediately.\n \nResult of the Tender Offer\n \nThe Tender Offer to acquire up to 1,257,937 ZDP Shares at a price of 120.00 pence per ZDP Share closed at 1.00 p.m. on 20 June 2025.\n \nA total of 1,157,417 ZDP Shares were validly tendered and accepted under the Tender Offer, representing approximately 92.01 per cent. of the issued ZDP Shares (excluding those held in treasury and by Somerston).\n \nSettlement of the Tender Offer will take place in accordance with the terms set out in the circular posted to Ordinary Shareholders and ZDP Shareholders, dated 4 June 2025 (the \"Circular\"). The repurchased ZDP Shares will be cancelled.\n \nIssue of New Bonds\n \nAs announced on 4 June 2025, the Tender Offer will be funded by the issue of New Bonds to Somerston Fintech. Pursuant to the Conditional Bond Issue, New Bonds have been issued to Somerston Fintech in an aggregate principal amount of £1,389,000.\n \nAmendments to Bonds\n \nOn 4 June 2025, the Company also announced that it was seeking to amend the terms of the Bonds to introduce a payment-in...