Tender offer to purchase up to 9.91 per cent. of the issued Shares at the Tender Price for each Share for an aggregate gross consideration of up to £10,000,000
Shore Capital Group Limited
(“Shore Capital” or the “Company”)
Tender offer to purchase up to 9.91 per cent. of the issued Shares at the Tender Price for each Share for an aggregate gross consideration of up to £10,000,000
Notice of General Meeting
Shore Capital is pleased to announce that a circular has today been posted to Shareholders, setting out the terms of a Tender Offer for up to 9.91 per cent. of the issued share capital of the Company at a price of £4.175 per share. A tender offer form, a form of proxy and a notice of a General Meeting to be held at 2.00 pm on 3 November 2015 at Martello Court, Admiral Park, St Peter Port, Guernsey GY1 3HB, have also been dispatched. The latest time and date for returning the form of proxy is 2.00 pm on 30 October 2015.
On 30 September 2015, the Board of Shore Capital announced in its Interim Results for the six months ended 30 June 2015, that the Company intended to return capital of £10 million to Shareholders. As a result of the Tender Offer each Shareholder is entitled to tender 9.91 per cent. of their shares (their “Entitlement”) and the Tender Offer will also present tendering Shareholders with an opportunity to sell more than their Entitlement to the extent that other shareholders tender less than their Entitlement. It is intended that the Shares purchased under the Tender Offer will be cancelled and not available for re-issue.
The Tender Offer is subject to the relevant resolution (to be proposed at the General Meeting) being passed. Subject to the resolution being passed, payment is expected to be dispatched on or prior to 13 November 2015.
Copies of the circular, tender offer form and form of proxy will shortly be available on the Company’s website at www.shorecap.gg.
The definitions used in this announcement have the same meaning as they have in the circular.
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Enquiries:
| Shore Capital | |
| Howard Shore, Executive Chairman | +44 (0) 20 7468 7911 |
| Lynn Bruce, Director | +44 (0) 1481 728 902 |
| Grant Thornton UK LLP (Nominated Adviser) | +44 (0) 20 7383 5100 |
| Philip Secrett | |
| Melanie Frean | |
| Jamie Barklem | |
| RBC Capital Markets (Broker) | +44 (0) 20 7653 4000 |
| Josh Critchley | |
| Oliver Hearsey | |
| Bell Pottinger (Public Relations) | +44 (0) 20 3772 2500 |
| Olly Scott | |
| Zoe Pocock |
About Shore Capital
Shore Capital is an AIM quoted independent investment group. Founded and owned by entrepreneurs, for three decades Shore Capital has been helping entrepreneurial businesses reach their full potential, find committed long term investors and develop into significant enterprises. The business offers innovative corporate advice; a leading market-making business; some of the most respected investment research available in the UK; and a diverse range of high quality investment opportunities, including its hugely successful VCTs and principal finance activities.
The Group is based in Guernsey, London, Liverpool, Edinburgh and Berlin. Shore Capital Stockbrokers Limited, Shore Capital and Corporate Limited, Shore Capital Limited and Puma Investment Management Limited are each authorised and regulated by the Financial Conduct Authority. Shore Capital Stockbrokers Limited is a member of the London Stock Exchange.