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Strategic Equity Capital tender taken up in full

Strategic Equity Capital tender taken up in full – Strategic Equity Capital has announced the final results of its tender offer, as described in the circular to shareholders dated 28 February 2022.

A total of 41,095,966 shares (equivalent to 64.9% of the shares in issue as at 6.00 p.m. on 18 March 2022 – the record date for the tender) were validly offered for tender. As a result, the tender offer was oversubscribed. The basic entitlement of all shareholders who have validly tendered their shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 3.1% of the excess shares tendered.

Subject to the passing of the resolution to be proposed at the general meeting convened for 11.00 a.m. on 23 March 2022, a total of 6,329,685 shares will be repurchased by the company under the tender offer and subsequently cancelled. The resolution is a special resolution requiring a majority of at least 75% of shareholders entitled to vote and present in person or by proxy to vote in favour in order for it to be passed.

It is anticipated that consideration for the shares purchased under the tender offer will be sent to shareholders on 24 March 2022 by way of a credit to their CREST accounts (for CREST account holders) or during the week commencing 4 April 2022 in the form of a cheque (for non-CREST account holders). CREST accounts will be credited with unsuccessfully tendered shares, balancing certificates will be issued and share certificates for unsuccessfully tendered shares will be sent to shareholders during the week commencing 4 April 2022.

The result of the meeting and details of the tender price will be announced by close of business on 23 March 2022.

SEC : Strategic Equity Capital tender taken up in full

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