Redrow PLC Completion of the B Share Purchase Offer (6598V)
April 09 2019 - 10:00AM
UK Regulatory
TIDMRDW
RNS Number : 6598V
Redrow PLC
09 April 2019
9 April 2019
Redrow plc ("Redrow")
Return of Cash: Completion of the B Share Purchase Offer and
payment of the Single B Share Dividend
Further to the publication on 7 March 2019 of the explanatory
circular regarding the B Share Scheme and the Share Consolidation
(the "Circular") and the announcement earlier today, 9 April 2019,
that Barclays Bank PLC (or a subsidiary thereof) ("Barclays")
(acting as principal, and not as agent, nominee or trustee for
Redrow) had made the B Share Purchase Offer, Redrow announces that
it has accepted the B Share Purchase Offer on behalf of the holders
of the B Shares and that the B Shares have been purchased by
Barclays (acting as principal, and not as agent, nominee or trustee
for Redrow) from the relevant Shareholders for an amount of 30
pence per B Share (free of all expenses and commissions) on the
terms set out in the Circular and the Purchase Offer Deed.
Payments are expected to be despatched and CREST accounts
credited on 16 April 2019 in respect of proceeds from the sale of
the B Shares purchased by Barclays.
Single B Share Dividend
Following the B Share Purchase Completion, Redrow announces that
it has paid the Single B Share Dividend to Barclays as holder of
all of the B Shares. In accordance with Redrow's Articles of
Association, following the payment of the Single B Share Dividend
all of the B Shares have been automatically reclassified as
Deferred Shares.
The Deferred Shares will not be listed and carry extremely
limited rights. All of the Deferred Shares (being 369,799,941
Deferred Shares) will be repurchased by Redrow from Barclays later
today, in accordance with the terms of the Option Agreement as
described in the Circular. Upon their repurchase by Redrow, all of
the Deferred Shares will be cancelled by Redrow.
Important Notices
Capitalised terms used in this announcement which are not
otherwise defined in this announcement have the same meaning as in
the Circular, which is available at
http://www.morningstar.co.uk/uk/NSM and on the Redrow's website at
www.redrowplc.co.uk. All references to time in this announcement
are to London time.
The release, publication or distribution of this announcement
into jurisdictions other than the United Kingdom may be restricted
by law and therefore any persons who are subject to the law of any
jurisdiction other than the United Kingdom should inform themselves
about, and observe, any such restrictions.
Barclays, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and
Prudential Regulation Authority in the United Kingdom, is acting
exclusively for Redrow and for no one else in connection with the
matters referred to in this announcement and will not be
responsible to anyone other than Redrow for providing the
protections afforded to its clients or for providing advice in
relation to the matters referred to in this announcement. Neither
Barclays, nor any of its affiliates, owes or accepts any duty,
liability or responsibility whatsoever (whether direct or indirect,
whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Barclays in connection with this
announcement, any statement contained herein or otherwise.
This announcement does not constitute or form part of any offer
or invitation to purchase, otherwise acquire, subscribe for, sell,
otherwise dispose of or issue, or any solicitation of any offer to
sell, otherwise dispose of, issue, purchase, otherwise acquire or
subscribe for, any security. This announcement does not constitute
an invitation to participate in the B Share Scheme in or from any
jurisdiction in or from which, or to or from whom, it is unlawful
to make such offer under applicable securities laws or otherwise or
where such offer would require a prospectus to be published.
Neither this announcement, nor any other document issued in
connection with the proposed return of cash to Shareholders, may be
issued or distributed to any person except under circumstances
which do not constitute an offer to the public under applicable
securities laws.
LEI Number:
2138008WJZBBA7EYEL28
Announcement Classification:
3.1: Additional regulated information required to be disclosed
under the laws of a Member State
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
FURILMJTMBAMBPL
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