GLI Finance Limited Result of EGM and Tender Offer (3097F)
March 06 2020 - 5:58AM
UK Regulatory
TIDMGLIF
RNS Number : 3097F
GLI Finance Limited
06 March 2020
6 March 2020
GLI Finance Limited (the "Company")
Result of Extraordinary General Meeting
and
Result of Tender Offer
The Company announces that both resolutions proposed at the
extraordinary general meeting held earlier today were duly passed.
As a result, the Tender Offer and Loan Swap Repurchase, as set out
in the shareholder circular published by the Company on 18 February
2020 (the "Circular") and set out in the Company's announcement on
the same date, will immediately proceed.
The Company today announces the result of the Tender Offer for
ZDP Shares:
Result of Tender Offer
Under the Tender Offer, 2,815,414 ZDP Shares were validly
tendered and will be purchased at a price of 133.3 pence per ZDP
Share, for an aggregate purchase price of GBP3,752,947. The ZDP
Shares to be purchased under the Tender Offer represent
approximately 21.9 per cent. of the ZDP Shares currently in issue
(excluding ZDP Shares held in treasury). Following completion of
the Tender Offer, the Company expects to hold such ZDP Shares in
treasury.
It is anticipated that the proceeds payable under the Tender
Offer to the Company's ZDP Shareholders who hold their ZDP Shares
in certificated form will be despatched on 16 March 2020 in the
form of a cheque. It is anticipated that those ZDP Shareholders who
hold their ZDP Shares in uncertificated form will have their CREST
accounts credited on 16 March 2020.
Loan Swap Repurchase
The Company also announces the completion today of the Loan Swap
Repurchase, whereby the Company has repurchased a shareholder's
entire holding of 621,586 ZDP Shares in exchange for the in specie
transfer of a loan from the Company's balance sheet.
Following the implementation of the Tender Offer and Loan Swap
Repurchase, the Company will have 9,419,958 ZDP Shares in issue
(excluding 11,371,460 ZDP Shares, which will be held in
treasury).
Capitalised terms used in this announcement have the same
meanings given to them in the Circular.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014.
GLI Finance Limited +44 (0)1534 708900
Andy Whelan
Nominated Adviser and Broker
Liberum Capital Limited +44 (0)203 100 2000
Chris Clarke
Edward Thomas
Public Relations Adviser
Instinctif Partners +44 (0)207 457 2020
Tim Linacre
Lewis Hill
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END
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