Business
Posting of Tender Offer Circular and Annual Report
Posting of Tender Offer Circular and Annual Report.
About this update from Telecom Plus Plc
[{"type":"text","content":"\n \nRNS Number : 5314I Telecom Plus PLC 20 June 2017 \n\nNot for release, publication or distribution in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This announcement does not constitute an offer to purchase, or solicitation of an offer to sell, Ordinary Shares.\n \n \nTelecom Plus PLC (the \"Company\")\n \nPosting of Tender Offer Circular and Report and Accounts \n \n \nPosting of Tender Offer Circular\n \nOn 13 June 2017, the Company announced that it intends to return up to £25 million to Shareholders by way of a tender offer (and subsequent repurchase) of Ordinary Shares (\"Tender Offer\"). The Company announces that the Tender Offer is now open.\n \nA circular setting out information on the details of the Tender Offer and the procedure that should be followed by Shareholders who wish to participate in the Tender Offer (\"Tender Offer Circular\") is expected to be posted to Shareholders today. The Tender Offer Circular will shortly be available on the Company's website at www.utilitywarehouse.co.uk/investors. A copy of the Tender Offer Circular will also be submitted to the National Storage Mechanism and will shortly be available for viewing at: http://www.morningstar.co.uk/uk/NSM.\n \nThe Tender Offer is being made available to all Shareholders who are on the Register at 5 p.m. (UK time) on 30 June 2017, other than Shareholders in a Restricted Jurisdiction. The price of the Tender Offer will be the lower of (i) £12.03 (being the closing price per Ordinary Share on 19 June 2017, the last practicable date prior to the date of the Tender Offer Circular) and (ii) the average market value of an Ordinary Share for the five business days prior to 3 July 2017 (being the date on which the Ordinary Shares are to be purchased). \n \nThe Tender Offer will be implemented on the basis of Peel Hunt acquiring, as principal, the successfully tendered Ordinary Shares at the Tender Offer price, on the basis that all Ordinary Shares that Peel Hunt acquires under the Tender Offer will be purchased from it by the Company under the Company's existing buyback authority and subsequently cancelled.\n \nAny Ordinary Shares successfully tendered will be purchased on 3 July 2017 and will not receive the final dividend of 25...