Information  X 
Enter a valid email address

Redrow PLC (RDW)

  Print      Mail a friend

Tuesday 09 April, 2019

Redrow PLC

Completion of the B Share Purchase Offer

RNS Number : 6598V
Redrow PLC
09 April 2019
 

9 April 2019

Redrow plc ("Redrow")

Return of Cash: Completion of the B Share Purchase Offer and payment of the Single B Share Dividend

Further to the publication on 7 March 2019 of the explanatory circular regarding the B Share Scheme and the Share Consolidation (the "Circular") and the announcement earlier today, 9 April 2019, that Barclays Bank PLC (or a subsidiary thereof) ("Barclays") (acting as principal, and not as agent, nominee or trustee for Redrow) had made the B Share Purchase Offer, Redrow announces that it has accepted the B Share Purchase Offer on behalf of the holders of the B Shares and that the B Shares have been purchased by Barclays (acting as principal, and not as agent, nominee or trustee for Redrow) from the relevant Shareholders for an amount of 30 pence per B Share (free of all expenses and commissions) on the terms set out in the Circular and the Purchase Offer Deed.

Payments are expected to be despatched and CREST accounts credited on 16 April 2019 in respect of proceeds from the sale of the B Shares purchased by Barclays.

Single B Share Dividend

Following the B Share Purchase Completion, Redrow announces that it has paid the Single B Share Dividend to Barclays as holder of all of the B Shares.  In accordance with Redrow's Articles of Association, following the payment of the Single B Share Dividend all of the B Shares have been automatically reclassified as Deferred Shares.

The Deferred Shares will not be listed and carry extremely limited rights.  All of the Deferred Shares (being 369,799,941 Deferred Shares) will be repurchased by Redrow from Barclays later today, in accordance with the terms of the Option Agreement as described in the Circular.  Upon their repurchase by Redrow, all of the Deferred Shares will be cancelled by Redrow.

 

Important Notices

Capitalised terms used in this announcement which are not otherwise defined in this announcement have the same meaning as in the Circular, which is available at http://www.morningstar.co.uk/uk/NSM and on the Redrow's website at www.redrowplc.co.uk.  All references to time in this announcement are to London time.

The release, publication or distribution of this announcement into jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the law of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any such restrictions.

Barclays, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority in the United Kingdom, is acting exclusively for Redrow and for no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Redrow for providing the protections afforded to its clients or for providing advice in relation to the matters referred to in this announcement. Neither Barclays, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Barclays in connection with this announcement, any statement contained herein or otherwise.

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security. This announcement does not constitute an invitation to participate in the B Share Scheme in or from any jurisdiction in or from which, or to or from whom, it is unlawful to make such offer under applicable securities laws or otherwise or where such offer would require a prospectus to be published. Neither this announcement, nor any other document issued in connection with the proposed return of cash to Shareholders, may be issued or distributed to any person except under circumstances which do not constitute an offer to the public under applicable securities laws.

LEI Number:
2138008WJZBBA7EYEL28

Announcement Classification:
3.1: Additional regulated information required to be disclosed under the laws of a Member State

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
FURILMJTMBAMBPL

a d v e r t i s e m e n t