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RIGHTS AND ISSUES INVESTMENT TRUST PLC Rights and Issues Investment Trust PLC: RTE-Result of Tender Offer REPLACEMENT

Directive transparence : information réglementée

28/09/2022 18:03

Rights and Issues Investment Trust PLC (RIII)
Rights and Issues Investment Trust PLC: RTE-Result of Tender Offer REPLACEMENT

28-Sep-2022 / 17:03 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


For immediate release 28 September 2022

 

 

 

RIGHTS AND ISSUES INVESTMENT TRUST PLC (the “Company”)

 

 

RESULT OF TENDER OFFER - REPLACEMENT

 

The ‘Result of Tender’ announcement released on 28 September 2022 at 11:19 under EQS News ID ‘1452231’ was incorrect and should be disregarded. The correct announcement is set out below.

 

Result of Tender Offer

 

The latest time for acceptance of the Tender Offer was 1.00 p.m. on 23 September 2022.  2,542,908 Ordinary Shares (representing approximately 36.2 per cent. of the Ordinary Shares outstanding on 27 September 2022) were validly tendered of which 528,101 Ordinary Shares were in respect of Basic Entitlements and 2,014,807 Ordinary Shares were in respect of Excess Applications.  As a result, subject to all terms and conditions of the Tender Offer as set out in Part IV of the Circular being met, all valid tenders will be satisfied in full up to the Basic Entitlement and, following application of the scale-back mechanism (as set out in the circular sent to shareholders on 1 September 2022 (the "Circular"), tenders in excess of the Basic Entitlement will be satisfied to the extent of approximately 8.9 per cent. of the excess Ordinary Shares tendered (each such satisfied entitlement being rounded down to the nearest whole number of Ordinary Shares).  Accordingly, upon the Tender Offer becoming unconditional, 706,904 Ordinary Shares will be purchased at the Tender Price, as determined in accordance with the terms and conditions of the Tender Offer as set out in Part IV of the Circular. 

 

The Tender Price has been set at 2137.6434 pence per share, having been calculated in accordance with the terms and conditions of the Tender Offer as set out in the Circular.

 

As set out in the Circular, upon the Tender Offer becoming unconditional, the Ordinary Shares in respect of which tenders have been accepted will be purchased by finnCap Limited ("finnCap") pursuant to the Tender Offer and the Company will buy-back such Ordinary Shares from finnCap for cancellation.

 

Shareholders are reminded that settlement of the Tender Offer remains subject to the terms and conditions of the Tender Offer being met, including but not limited to the condition that the Tender Offer is subject to the FCA not deciding to exercise any power so as to prevent the implementation of the Company’s proposed appointment of JUTM as its AIFM within the period (including any extension) specified therefore in accordance with the UK AIFM Regulations.

 

Capitalised terms and expressions shall have the same meanings as those attributed to them in the Circular.

 

For further information please contact:

 

Enquiries:

 

finnCap Limited

 

William Marle / George Dollemore – Corporate Finance 

+44 (0) 20 7220 0500

Mark Whitfeld / Pauline Tribe – Sales 

+44 (0) 20 7220 0500

 

 

Maitland Administration Services Limited

 

 

 

cosec@maitlandgroup.com

+44 (0) 1245 398950

 

 

 

 



ISIN: GB0007392078
Category Code: RTE
TIDM: RIII
LEI Code: 2138002AWAM93Z6BP574
OAM Categories: 2.4. Acquisition or disposal of the issuer's own shares
Sequence No.: 191144
EQS News ID: 1452505

 
End of Announcement EQS News Service

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