Tetragon Financial
Group Limited Announcement of Final Results of Tender Offer to
Purchase Tetragon Non-Voting Shares
LONDON, Dec. 8, 2017 /PRNewswire/ -- Tetragon and
its subsidiary Tetragon Financial Group Master Fund Limited
announce the final results of the "modified Dutch auction" tender
offer to purchase a portion of the outstanding non-voting shares of
Tetragon for a maximum aggregate payment of $65,000,000 in cash. The tender offer
expired at 11:59 p.m. (EST) on 7
December 2017.
Deutsche Bank AG, London Branch
acted as dealer manager for the tender offer and Computershare
Investor Services PLC acted as tender agent for the tender
offer. As dealer manager, Deutsche Bank determined the final
purchase price at which the Tetragon Master Fund will purchase
shares in the tender offer and the final proration factor.
In accordance with the terms of the tender offer, the Tetragon
Master Fund has accepted for purchase 4,779,411 Tetragon non-voting
shares at a purchase price of $13.60
per share. The aggregate cost of this purchase is
$64,999,989.60, excluding fees and
expenses relating to the tender offer. A total of 5,116,818
Tetragon non-voting shares were properly tendered and not withdrawn
at or below the purchase price of $13.60 per share. Because more than
$65,000,000 in value of Tetragon
non-voting shares was properly tendered and not properly withdrawn,
the tender offer was subject to proration pursuant to the terms of
the tender offer, with appropriate adjustments to avoid purchases
of fractional shares. The final proration factor for the
tender offer is 93.41%, rounded to the second decimal
place.1
The Tetragon Master Fund will promptly make payment for the
shares validly tendered and accepted for purchase, which is
expected to occur on or about 14 December 2017. All shares
tendered and not purchased in the tender offer will be promptly
returned to the tendering shareholders.
About Tetragon:
Tetragon is a closed-ended investment company that invests
in a broad range of assets, including bank loans, real estate,
equities, credit, convertible bonds and infrastructure and TFG
Asset Management, a diversified alternative asset management
business. Where sensible, through TFG Asset Management,
Tetragon seeks to own all, or a portion, of asset management
companies with which it invests in order to enhance the returns
achieved on its capital. Tetragon's investment objective is
to generate distributable income and capital appreciation. It
aims to provide stable returns to investors across various credit,
equity, interest rate, inflation and real estate cycles. The
company is traded on Euronext in Amsterdam N.V. and on the
Specialist Fund Segment of the main market of the London Stock
Exchange. For more information please visit the company's
website at www.tetragoninv.com.
Tetragon: |
|
|
|
|
|
|
|
|
|
|
|
Press Inquiries: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Yuko Thomas |
|
|
|
|
|
|
|
|
|
|
|
Prosek Partners |
Investor Relations |
|
|
|
|
|
|
|
|
|
|
|
Andy Merrill and Ryan FitzGibbon |
ir@tetragoninv.com |
|
|
|
|
|
|
|
|
|
|
|
+1 212 279 3115 ext. 216 and ext. 234 |
|
|
|
|
|
|
|
|
|
|
|
|
Pro-tetragon@prosek.com |
This release
contains inside information within the meaning of Article 7(1) of
the EU Market Abuse Regulation.
This release does not contain or constitute an offer to sell or
a solicitation of an offer to purchase securities in the United States or any other jurisdiction.
The securities of Tetragon have not been and will not be
registered under the U.S. Securities Act of 1933 and may not be
offered or sold in the United
States or to U.S. persons unless they are registered under
applicable law or exempt from registration. Tetragon does not
intend to register any portion of its securities in the United States or to conduct a public offer
of securities in the United States. In addition, Tetragon has
not been and will not be registered under the U.S. Investment
Company Act of 1940, and investors will not be entitled to the
benefits of such Act. Tetragon is registered in the public
register of the Netherlands Authority for the Financial Markets
under Section 1:107 of the Financial Markets Supervision Act as a
collective investment scheme from a designated country.
1 The full final proration factor is
93.4059363593914%.