Best of the Best PLC Results of Tender Offer (4842Q)
February 19 2019 - 5:00AM
UK Regulatory
TIDMBOTB
RNS Number : 4842Q
Best of the Best PLC
19 February 2019
Best of the Best plc
("Best of the Best", "BOTB", "the Company" or "the Group")
Result of Tender Offer
Best of the Best plc runs competitions online to win cars and
other prizes.
The Company is pleased to announce that pursuant to the Tender
Offer which closed in accordance with its published timetable at
5:00 p.m. on 18 February 2019, valid tenders have been received for
4,038,145 Ordinary Shares representing approximately 5.6 times the
Ordinary Shares subject to the Tender Offer.
In accordance with the terms of the Tender Offer, Shareholders
are entitled to sell up to 1 Ordinary Share for every 14 Ordinary
Shares held (up to approximately 7.1 per cent. of their
shareholding) (the "Pro Rata Entitlement"). Shareholders who tender
to sell less than or equal to their Pro Rata Entitlement will have
their tender satisfied in full. Shareholders are entitled to tender
more than their Pro Rata Entitlement to the extent that other
Shareholders tender less than their Pro Rata Entitlement. If the
number of Ordinary Shares validly tendered exceeds 721,327 Ordinary
Shares and if and to the extent that any Shareholders have tendered
less than their Pro Rata Entitlement, surplus tenders will be
accepted in proportion to the number of additional Ordinary Shares
tendered so that the number of Ordinary Shares purchased pursuant
to the Tender Offer does not exceed 721,327 Ordinary Shares.
Accordingly, Shareholders who tendered more than their Pro Rata
Entitlement will have their Pro Rata Entitlement satisfied in full
and any Ordinary Shares tendered above their Pro Rata Entitlement
will be scaled down (to the nearest whole number of Ordinary
Shares) by a factor of approximately 0.00430630.
finnCap will purchase the maximum number of Ordinary Shares
available under the terms of the Tender Offer, being in aggregate
721,327 Ordinary Shares at 485 pence per Ordinary Share, for a
total consideration of GBP3,498,435.95.
The posting of cheques in respect of certificated Ordinary
Shares purchased pursuant to the Tender Offer and the crediting of
CREST accounts for uncertificated Ordinary Shares purchased
pursuant to the Tender Offer are expected to occur on 1 March
2019.
The crediting of CREST accounts with uncertificated Shares
unsuccessfully tendered and the dispatch of balance share
certificates for unsold certificated Ordinary Shares and the return
of share certificates for unsuccessful tenders of certificated
Shares are also expected to occur by 1 March 2019.
Terms used in this announcement shall have the meaning ascribed
to them in the circular sent to Shareholders on 30 January 2019
unless otherwise stated.
Enquiries:
Best of the Best plc William Hindmarch, Chief T: 020 7371
Executive 8866
Rupert Garton, Commercial
Director
KTZ Communications Katie Tzouliadis T: 020 3178
6378
finnCap Corporate Finance T: 020 7220
(Nominated Adviser and Carl Holmes 0500
Broker) Anthony Adams
ECM
Alice Lane
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation 596/2014
Please visit www.botb.com for further information
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
RTELLFIIFAIALIA
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