Business
LSR announcement on return of capital
LSR announcement on return of capital.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 5824C Thalassa Holdings Limited 18 June 2019 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \nThalassa Holdings Ltd\n(Reuters: THAL.L, Bloomberg: THAL:LN)\n(\"Thalassa\", \"THAL\" or the \"Company\")\nLSR announcement on return of capital\nThe board of Thalassa notes the announcement made by The Local Shopping REIT plc (\"LSR\") this morning regarding an irrevocable undertaking pursuant to which, amongst other things, Thalassa has agreed to support proposals to return capital to LSR shareholders by way of a capital reduction and share buy-back tender offer to be effected at a price per LSR share equal to the net asset value per LSR share (to be set out in LSR's unaudited consolidated interim results for the six months ended 31 March 2019 to be published on or around 20 June 2019), subject to a cap of 31.5 pence per share. \n \nLSR expects to publish a circular to LSR shareholders, which will contain, amongst other things, further details in respect of the proposals, a notice of general meeting as well as the formal terms and conditions applicable to the Proposals following their interim results. \n \nFurther details will be announced in due course. The full text of the LSR announcement has been disclosed below. \n \n \n\n\n\nEnquiries:\n\n\n\n\n\n\n\nThalassa Holdings Ltd\n\n\n\n\n\n\n\nDuncan Soukup (Executive Chairman)\n\n\n+33 (0)6 78 63 26 89\n\n\n\n\nWH Ireland Limited (Financial Adviser)\n\n\n+44 (0)207 220 1650\n\n\n\n\nChris Fielding, Managing Director, Corporate Finance\n \n\n\n\n\n\n\nwww.thalassaholdingsltd.com \nNote to Editors:\nThalassa Holdings Ltd, incorporated and registered in the BVI, is a holding company with various interests across a number of industries.\n \n \n \n \nThe Local Shopping REIT plc (\"LSR\" or the \"Company\")\n \nAnnouncement of irrevocable undertaking from Thalassa Holdings Ltd (\"Thalassa\")\nto support proposals to return capital to LSR shareholders\nby way of a capital reduction and share buy-back tender offer\n \nThis announcement does not represent a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers (the \"Code\").\n \nGeneral\n \nThe directors of the Company (the \"Board\") are pleased to announce that LSR and Thalassa have today e...