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Eredene Capital to conduct tender and leave AIM

ERE : Eredene Capital to conduct tender and leave AIM

Eredene Capital has announced that it will use the proceeds of recent disposals to fund a tender offer for shareholders – the terms of which are an offer for 12% of the company at 10p per share (vs. the current share price of 4.75p) – and wil then leave AIM so that the sahres will become unquoted. The latter move is intended to save costs and make it easier to sell off the remainder of the portfolio outside the rules of disclosure imposed on a public company.

If shareholders approve both moves, cash for successfully tendered shares will be dispatched on 4 November and the shares will leave AIM on 10 December.

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