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Electra tender offer returns £92.4m to shareholders at a strike price of 4,650 pence per share

Electra Private Equity has announced the final results of its tender offer, details of which were set out in the circular to shareholders published by on 8 November 2016. The strike price is 4,650 pence and a total of 1,987,768 ordinary shares were validly tendered and, accordingly, all valid tenders will be satisfied in full. The total consideration payable under the tender offer is £92,431,212. As a result of the tender offer, the company will be reducing its total share capital from 40,270,531 ordinary shares to 38,282,763 ordinary shares (of which no ordinary shares will be held in treasury). The company says that, on a pro-forma basis, the impact of the tender offer on the net asset value per ordinary share, as at 30 September 2016 (unadjusted for events after that date other than the Tender Offer) would be to increase it from 5,149 pence to 5,175 pence.

About Electra Private Equity

Electra Private Equity has the objective of achieving a rate of return on equity of between  10-15% per year over the long term by investing in a portfolio of  private equity assets. It has three classes of share capital – ordinary shares, convertible unsecured loan stock (CULS) and zero dividend preference shares (ZDPs).

Electra tender offer returns £92.4m to shareholders at a strike price of 4,650 pence per share : ELTA

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