Stewart & Wight PLC Result of Tender Offer (0534V)

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

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

RTEGGUUAMUPRGGR

(END) Dow Jones Newswires

July 18, 2018 07:52 ET (11:52 GMT)

Stewart & Wight (LSE:STE)
Historical Stock Chart
From May 2024 to Jun 2024