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SVG Capital PLC (SVI)

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Friday 30 March, 2012

SVG Capital PLC

Result of Tender Offer

RNS Number : 4336A
SVG Capital PLC
30 March 2012
 



SVG Capital plc
30 March 2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA

SVG Capital plc (the "Company")

Results of Tender Offer

The Company today announces the results of the Tender Offer set out in the circular published by the Company on 1 March 2012 (the "Circular") which closed on 29 March 2012, following shareholder approval at a general meeting of the Company held on 20 March 2012.

204,913,962 Ordinary Shares were validly tendered and, following application of the scale-back mechanism (as set out in the Circular), 15,576,323 Ordinary Shares will be purchased at a price per Ordinary Share of 321 pence, for a total cost of £49,999,996.83.  This represents approximately 5.14 per cent. of the issued share capital of the Company (excluding treasury shares).

It is anticipated that the proceeds payable to the Company's Shareholders for the certificated Ordinary Shares purchased under the Tender Offer will be despatched on 5 April 2012 in the form of a cheque and that CREST account holders will have their CREST accounts credited on or around 3 April 2012.

As set out in the Circular, the Ordinary Shares will be purchased by J.P. Morgan Cazenove pursuant to the Tender Offer and the Company will buy-back such Ordinary Shares from J.P. Morgan Cazenove. The Company intends to cancel such Ordinary Shares, reducing its total issued share capital from 310,407,923 Ordinary Shares to 294,831,600 Ordinary Shares (of which 7,584,410 Ordinary Shares are held in treasury).

Capitalised terms used in this announcement have the same meaning as ascribed to them in the Circular.

For further information please contact:

 

SVG Capital plc
Stuart Ballard                    020 7010 8935


This information is provided by RNS
The company news service from the London Stock Exchange
 
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