Business
Result of Tender Offer
Result of Tender Offer.
About this update from Volvere Plc
[{"type":"text","content":"\n \nRNS Number : 0242C Volvere PLC 12 June 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \n \nVolvere plc \n(\"Volvere\" or the \"Company\")\nResult of Tender Offer, Directors' Interests and Total Voting Rights\nThe Company today announces the results of the Tender Offer set out in the Circular published by the Company on 29 May 2019 (the \"Circular\"). The Tender Offer closed at 1.00 p.m. on 11 June 2019.\nResult of Tender Offer\nUnder the Tender Offer, 1,213,608 Ordinary Shares were validly tendered under the Tender Offer (being 38.92 per cent. of the Company's Ordinary Shares in issue as at 11 June 2019 (excluding treasury shares)) and, as a result, the Tender Offer was not fully subscribed. The Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will also be satisfied in full, meaning 100 per cent. of the excess Ordinary Shares validly tendered will be purchased. The total value of all Ordinary Shares purchased is £15.7 million.\nIt is anticipated that the proceeds payable under the Tender Offer to Shareholders who hold their Ordinary Shares in certificated form will be despatched on 19 June 2019 in the form of a cheque. Those shareholders who hold their Ordinary Shares in uncertificated form will have their CREST accounts credited by 19 June 2019.\nAs set out in the Circular, the Ordinary Shares will be purchased by Hobart pursuant to the Tender Offer and the Company will purchase such Ordinary Shares from Hobart under the terms of the Repurchase Agreement and transfer them into treasury.\nDirectors' Dealings and Related Party Transactions\nAs previously indicated, Jonathan Lander, CEO, and Nicholas Lander, COO, participated in the Tender, selling in aggregate 569,930 Ordinary Shares at a price of 1290 pence per Ordinary Share, as detailed below:\n \n\n\n\n\n\nDirector\n\n\nShareholding prior to Tender\n\n\n% of TVR prior to Tender\n\n\nShares sold in Tender\n\n\nShareholding following Tender\n\n\n% of TVR following Tender\n\n\n\n\nJonathan Lander\n\n\n603,896\n\n\n19.37\n\n\n371,146\n\n\n232,750\n\n\n12.22\n\n\n\n\nNicholas Lander\n\n\n323,444\n\n\n10.37\n\n\n198,784\n\...