Dragon Capital has 60.6% of Dragon Ukrainian following bid – On 8 June 2017, in accordance with Rule 9 of the City Code on Takeovers and Mergers, Dragon Capital Investments announced its firm intention to make a mandatory cash offer for all of the Shares of Dragon Ukrainian Properties which the Dragon Capital Group did not already own at a price of 13 pence per DUPD share. On 27 June 2017, they increased the offer to 15 pence per share. The Offer Document in relation to the Offer was posted to shareholders on 27 June 2017.
On 18 July 2017, they had received valid acceptances from DUPD Shareholders in respect of 29,067,044 DUPD Shares, representing 26.58 per cent. of the existing issued share capital of DUPD and 39.51 per cent. of the DUPD Shares not already owned by DCI as a result of which Dragon Capital had become interested in 64,861,833 DUPD Shares representing approximately 59.31 per cent. of the issued share capital of DUPD and declared the Offer wholly unconditional.
On that date the Offer was extended until 1.00 p.m. on 1 August 2017.
As at the closing date, Dragon Capital has received valid acceptances from DUPD Shareholders in respect of 30,366,503 DUPD Shares, representing 27.77 per cent. of the existing issued share capital of DUPD and 41.28 per cent. of the DUPD shares they didn’t already own. Giving a total of 66,161,292 DUPD Shares representing approximately 60.5 per cent. of the issued share capital of DUPD.
In addition to the DUPD Shares acquired under the Offer, DCI has made purchases on 24, 25 and 26 July totalling 112,675 DUPD Shares at 15 pence per DUPD Share. As a result, in total, Dragon Capital is now interested in 66,273,967 DUPD Shares representing approximately 60.6 per cent. of the issued share capital of DUPD.
THE OFFER IS NOW CLOSED
DUPD : Dragon Capital has 60.6% of Dragon Ukrainian following bid