Overview
SVG Capital has announced the results of its tender offer, the details of which were set out in the company’s shareholder circular published by the Company on 17 November 2016.
The company says that 122,492,644 ordinary shares were validly tendered and, following application of the scale-back mechanism, 48,951,048 ordinary shares will be purchased at a price per ordinary share of 715 pence, for a total cost of £349,999,993.20. This represents approximately 31.36 per cent. of the issued share capital of the company, excluding treasury shares, and shareholders who tendered more than their individual basic entitlement (being 31.36% of their holdings of ordinary shares) were scaled back by c 96.1% of the number of excess shares tendered.
SVG Capital announces tender offer results : SVI