LMS Capital has announced the results of its tender offer that was previously announced on 27 November 2015. The latest tender is the fourth the company has made since the approval of its realisation strategy in November 2011. The tender price was 96p and 130,363,380 ordinary shares were validly tendered. The basic entitlement is 28.7% and all valid tenders up to the basic entitlement will be satisfied in full and approximately 3.4% of the ordinary tendered in excess of the basic entitlement will also be satisfied. After application of the scaling provisions, 41,666,666 Ordinary Shares will therefore be purchased. The total value of all Ordinary Shares purchased is £40m. The company intends to cancel the shares repurchased, reducing its total issued share capital from 145,251,258 Ordinary Shares to 103,584,592 Ordinary Shares. Following the tender offer, members of the Rayne concert party will together hold 34.07% of the issued share capital of the Company.
LMS Capital tender offer returns £40m : LMS