Tender Offer Update (4148G)

TIDMDBAY

RNS Number : 4148G

Douglasbay Capital PLC

12 May 2011

DOUGLASBAY CAPITAL PLC (the "Company")

Tender Offer update

Tender Offer

Further to the announcement made by the Company on 13 April 2011 of the proposed return of cash to Shareholders by Tender Offer, the Board of the Company is pleased to announce the result of the Tender Offer.

On the basis that the requisite resolutions are passed at the Annual General Meeting later today the total number of the ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares") to be purchased pursuant to the Tender Offer at a price of 16.35 pence per share is 1,207,966,299 amounting to a return of cash to shareholders of GBP197,502,489.31.

Completion of the Tender Offer is subject to the approval of the Resolutions at the Annual General Meeting of the Company convened for 12 noon today.

All Ordinary Shares repurchased pursuant to the Tender Offer will be cancelled. Following such cancellation, the total number of Ordinary Shares in issue (assuming the requisite resolutions are passed) will be 167,008,505.

For further information please contact:

 
 DouglasBay Capital plc          Peel Hunt LLP (Nominated Adviser 
                                  & Broker) 
 Alex Paiusco, Chief Executive   Guy Wiehahn / Emma Riza 
 Tel: 01624 690900               Tel: 020 7418 8893

This information is provided by RNS

The company news service from the London Stock Exchange

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