Stewart & Wight PLC Result of Tender Offer (0534V)
July 18 2018 - 7:52AM
UK Regulatory
TIDMSTE
RNS Number : 0534V
Stewart & Wight PLC
18 July 2018
STEWART & WIGHT PLC
845 FINCHLEY ROAD, LONDON NW11 8NA
TEL: +44 (0)20 8455 1111 FAX: +44 (0)20 8455 9191
ANNOUNCEMENT
18 July 2018
Result of Tender Offer
Stewart & Wight plc ("The Company") announces that the
Tender Offer for the purchase of up to 335,812 Shares closed at
1.00 p.m. on 17 July 2018.
A total of 312,027 Shares were validly tendered by Qualifying
Shareholders under the Tender Offer at the Tender Price of 590
pence per Share. This equates to approximately 92.9 per cent. of
the Shares in respect of which the Tender Offer was made. All
tenders will be accepted in full.
As set out in the Company's Circular dated 21 June 2018, it is
anticipated that the proceeds payable to Qualifying Shareholders
for the Ordinary Shares purchased under the Tender Offer will be
sent on or around the week commencing 23 July 2018 in the form of a
cheque.
Following the purchase and cancellation of the Tendered Shares,
the total Shares in issue will be 1,256,182.
The Tender Offer is being made by Stockdale Securities as
principal on the basis that all Shares that it buys under the
Tender Offer will subsequently be repurchased from it by the
Company pursuant to the terms of the Repurchase Agreement and then
cancelled.
Capitalised terms and expressions have the same meanings as
those attributed to them in the Circular.
Shareholders are reminded that, as set out in the circular sent
to Shareholders on the 21 June 2018, the planned date of
cancellation of the listing of the Shares on the main market of the
London Stock Exchange and the UKLA's Official List is the 14 August
2018.
The results of the tender offer as set out above are also
available on the Company's website at
www.Stewartandwightplc.co.uk
David Cramer
Director
Registered office as above. Registered in England No. 57142
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END
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