9 December 2024
Sancus Lending Group
Limited
("Sancus" or the
"Company")
Result of ZDP Share Buyback,
Issue of Bonds and Cancellation of Listing of ZDP
Shares
Further to the Company's
announcement on 13 November 2024, the Company today announces the
result of the ZDP Share Buyback and an update on the cancellation
of listing of the ZDP Shares.
Result of the ZDP Share Buyback
Following the launch of the ZDP
Share Buyback by way of a reverse bookbuild process on 13 November
2024, the Company announces that it has purchased a total of
1,854,910 ZDP Shares at a price of 108 pence per ZDP Share, for a
total consideration of £2,003,303. All of the ZDP Shares purchased
will be cancelled. No ZDP Shares were acquired by
Somerston.
Following the above transaction, the
Company has 16,314,551 ZDP Shares in issue, of which 11,894,628 ZDP
Shares are held by the Company as treasury shares. The total number
of ZDP Share voting rights is therefore 4,419,923.
This figure of 4,419,923 may be used
by holders of ZDP Shares as the denominator for the calculations by
which they can determine if they are required to notify their
interest in, or a change to their interest in, the ZDP Shares under
the FCA's Disclosure Guidance and Transparency Rules.
Issue of Bonds
As announced on 13 November 2024,
the ZDP Share Buyback was funded by the issue by the Company to
Somerston of 8 per cent. unsecured Bonds. Pursuant to a conditional
subscription from Somerston, subject to completion of the ZDP Share
Buyback, Bonds have been issued to Somerston in an aggregate
principal amount of £2,003,303.
Cancellation of Listing of ZDP Shares
Following its announcement on 13
November 2024, the Company confirms that the Cancellation of the
ZDP Shares is expected to become effective at 7.00 a.m. on 11
December 2024. Applications have been made to the FCA and the LSE
to effect a Cancellation of the ZDP Shares in the non-equity shares
and non-voting equity shares category of the Official List and to
trading on the Main Market.
Following the Cancellation, in
respect of the ZDP Shares, the Company will no longer be subject to
the regulatory and statutory regime which applies to companies
admitted to listing in the non-equity shares and non-voting equity
shares category of the Official List and traded on the Main
Market.
The Cancellation will not apply to
the Company's Ordinary Shares, which will continue to be admitted
to trading on the AIM market of the LSE.
Transactions in the ZDP Shares post the
Cancellation
ZDP Shareholders should note that
they are able to continue to trade in the ZDP Shares on the Main
Market following the ZDP Share Buyback and prior to the effective
date of Cancellation.
The Company wishes to remind holders
of its ZDP Shares that, if a ZDP Shareholder retains their ZDP
Shares following the Cancellation, although the ZDP Shares will
remain freely tradeable, they will no longer be tradeable on the
Main Market and no other formal facility (such as CREST) will be
available to facilitate the trading of the ZDP Shares.
All ZDP Shareholders should note
that following Cancellation the ability for ZDP Shareholders to
dispose of their ZDP Shares will be significantly diminished and
will be dependent on there being a willing buyer for those ZDP
Shares at such time.
Those ZDP Shareholders who hold
their ZDP Shares in CREST will be sent share certificates for their
holding by 31 December 2024.
Capitalised terms used in this
announcement shall have the same meanings as set out in the
Company's announcement on 13 November 2024 'Cancellation of ZDP Share Listing and
Buyback'.
For further information, please
contact:
Sancus Lending Group Limited
Rory Mepham
Keith Lawrence
+44 (0)1481 708 280
Panmure Liberum Limited (Nominated Adviser and Corporate
Broker)
Chris Clarke
William King
+44 (0) 20 3100 2000
Instinctif Partners (PR Advisor)
Hannah Scott
Augustine Chipungu
+44 (0)20 7457 2020
Apex
Group Ltd
Matt Falla
Nicola Momberg
+44 (0)1481 755530