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Tender Offer of ZDP Shares and Notice of EGM
Tender Offer of ZDP Shares and Notice of EGM.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 2214U\n GLI Finance Limited\n 01 April 2021\n \n \n \n \n 1 April 2021\n \n \n \n \n \n GLI Finance Limited\n \n \n (the \"Group\" or the Company\")\n \n \n \n \n \n Tender Offer for up to 25 per cent. of the issued ZDP Shares\n \n \n \n \n \n and\n \n \n \n \n \n Notice of Extraordinary General Meeting and posting of circular\n \n \n \n \n \n As part of the ZDP Share continuation proposals approved by the Company's shareholders in November 2020, the Board stated that the Company intended to make a cash tender offer for a proportion of the Company's redeemable zero dividend preference shares (\"ZDP Shares\"). The Board now proposes to implement the Tender Offer for up to 25 per cent of the issued ZDP Shares (excluding ZDP Shares held in treasury) (the \"Tender Offer\").\n \n \n The making of the Tender Offer requires the approval of ordinary shareholders at an extraordinary general meeting, to be held at the Company's registered office, Block C, Hirzel Court, Hirzel Street, St Peter Port, Guernsey GY1 2NL, Channel Islands on 22 April 2021 at 10.00 a.m. (the \"Extraordinary General Meeting\" or \"EGM\"). A circular (the \"Circular\") will today be posted to holders of the Company's ordinary shares of no par value (\"Ordinary Shares\") and ZDP Shares (together the \"Shareholders\") providing details of the Tender Offer, a notice of the EGM together with the required resolutions, forms of proxy for the attention of ordinary shareholders and tender forms for the attention of ZDP shareholders. The Circular will shortly be available on the Company's website at \n \n \n www.glifinance.com\n \n \n and Shareholders should consider the full contents of the Circular in addition to the summary information below.\n \n \n Background to and reasons for the Tender Offer\n \n \n The Company currently has two classes of Shares in issue: Ordinary Shares and ZDP Shares. As at the date of this announcement, the Company's issued share capital is 489,843,477 Ordinary Shares (of which 11,852,676 are held by a subsidiary of the Company) and 20,791,418 ZDP Shares (of which 12,104,030 are held in treasury).\n \n \n The ZDP Shares are non-participating and non-voting (except in certain limited circumstances) but carry the right to the repayment of a Final Capital Entitlement on their maturi...