Eurocastle Announces Results of Tender Offer: Company Repurchases 8.4 million Shares at €10.00 Per Share
November 17 2017 - 2:00AM
Guernsey. 17 November 2017 - Eurocastle Investment
Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company")
today announces the final results of its tender offer. On 19
October 2017, Eurocastle sent a circular (the "Circular") to shareholders in relation to a proposed
tender offer for the repurchase of ordinary shares in the Company
("Ordinary Shares") for a fixed price of
€10.00 per Ordinary Share in order to return a maximum of €84
million in cash to shareholders (the "Tender
Offer").
The Tender Offer closed at 11.59pm (US Eastern
Time) on 16 November 2017. In accordance with the terms and
conditions set out in the Circular and based on the final count by
the Company's agent, ABN AMRO Bank N.V., Eurocastle accepted
tenders of 8.4 million Ordinary Shares at a fixed price of €10.00
per Ordinary Share for a total tender amount of approximately €84
million, excluding fees and expenses relating to the Tender Offer.
The Company has scaled back tenders of Ordinary Shares in excess of
Basic Entitlements (as defined in the Circular) pro rata in
accordance with the terms and conditions set out in the Circular.
The Ordinary Shares accepted for repurchase represent approximately
13.75% of the Ordinary Shares in issue as of 16 November 2017.
The record date for the tendered Ordinary Shares
repurchased was 16 November 2017 with settlement expected to occur
on 22 November 2017. Where an accepted tender relates to Ordinary
Shares held by shareholders in CREST and in certificated form,
cheques or bank transfers for the consideration will be despatched
on or around 22 November 2017 by Anson Registrars Limited.
Any terms not defined in this announcement shall
have the same meaning as in the Circular.
About Eurocastle
Eurocastle Investment Limited is a
publicly traded closed-ended investment company that focuses on
investing in performing and non-performing loans and other real
estate related assets primarily in Italy. The Company is Euro
denominated and is listed on Euronext Amsterdam under the symbol
"ECT". Eurocastle is managed by an affiliate of Fortress Investment
Group LLC, a leading global investment manager. For more
information regarding Eurocastle Investment Limited and to be added
to our email distribution list, please visit
www.eurocastleinv.com.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Eurocastle Investment Limited via
Globenewswire
ECA Marcellus Trust I (NYSE:ECT)
Historical Stock Chart
From Aug 2024 to Sep 2024
ECA Marcellus Trust I (NYSE:ECT)
Historical Stock Chart
From Sep 2023 to Sep 2024