Business
ZEGONA ANNOUNCES TENDER OFFER AT £1.535 PER SHARE
ZEGONA ANNOUNCES TENDER OFFER AT £1.535 PER SHARE.
About this update from Zegona Communications Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5315I\n Zegona Communications PLC\n 13 August 2021\n \n \n \n \n \n \n \n \n \n \n NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR TO ANY US PERSON, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA\n OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN)OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.\n \n \n \n \n \n ZEGONA COMMUNICATIONS PLC (\"Zegona\" or the \"Company\")\n \n \n \n \n \n LEI: 213800ASI1VZL2ED4S65\n \n \n \n \n \n \n \n \n 13 august 2021\n \n \n \n \n \n ZEGONA ANNOUNCES TENDER OFFER AT £1.535 PER SHARE\n \n \n \n \n \n London, England, 13 August 2021 - Zegona announces the publication of a circular (the \"Circular\") for a return of up to £329.3 million to shareholders by way of a tender offer at a price of £1.535 per share (the \"Tender Offer\")\n \n \n \n \n \n Tender Offer delivers on Zegona's commitment to return capital to shareholders after selling its investment in Euskaltel\n \n \n \n \n \n \n \n \n · \n \n \n \n \n On 24 May 2021, Zegona announced that on the successful sale of its investment in Euskaltel to MásMóvil, it would return £335 million in cash to Shareholders.\n \n \n \n \n \n \n · \n \n \n \n \n On 23 July 2021, Zegona began this return of cash to shareholders with a £5.7 million dividend payment.\n \n \n \n \n \n \n · \n \n \n \n \n Following this dividend and the successful sale of its investment in Euskaltel, Zegona's commitment is now to return the balance of the £335 million, being at least £329.3[1] million and will do so through a Tender Offer,\n \n \n \n \n \n \n · \n \n \n \n \n The Tender Offer is a straightforward mechanism to return this capital quickly and tax efficiently.\n \n \n \n \n \n \n · \n \n \n \n \n Today Zegona has published a Circular detailing the Tender Offer and the required General Meeting.\n \n \n \n \n \n \n · \n \n \n \n \n Under the Tender Offer, each qualifying holder of Zegona's ordinary shares (the \"Shares\") will be entitled to sell approximately 98.0% of their Shares (their \"Tender Offer Entitlement\") at a price of £1.535 per Share.\n \n \n \n \n \n \n · \n \n \n \n \n Shareholders may tender more th...