Urban Exposure PLC Proposed Tender Offer (3565G)
24 Novembro 2020 - 9:45AM
UK Regulatory
TIDMUEX
RNS Number : 3565G
Urban Exposure PLC
24 November 2020
24 November 2020
THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION AS DEFINED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014
Urban Exposure Plc ("the Company")
Proposed Tender Offer
Further to the announcement on 1 October 2020, the Company is
pleased to announce that it proposes shortly to proceed with a
tender offer to eligible shareholders for up to GBP65 million in
value of the Company's ordinary shares ("Shares") (the "Tender
Offer") at a price equal to 75 pence per Share (the "Tender
Price"). Completion of the Tender Offer will be subject to
shareholder approval.
As announced on 22 September 2020, the Company's unaudited net
tangible asset value per Share as at 30 June 2020 was 77 pence per
share (the "TNAV"). The Company now has a cash balance of
approximately GBP81 million. The Tender Price represents a 2.6 per
cent. discount to the TNAV and a 7.9 per cent. premium to the
mid-market price of 69.50p per Share as at close of business on 23
November 2020, being the last business day prior to this
announcement.
Full details of the Tender Offer, including the expected
timetable and the procedure for tendering shares will be set out in
the Tender Offer circular which is expected to be published
shortly. A further announcement will be made in due course.
Enquiries:
Urban Exposure plc Tel: +44(0) 207 408 0022
Graham Warner, Chairman
Sam Dobbyn, Chief Executive Officer
Liberum (NOMAD and Corporate Broker) Tel: +44(0)203 100 2000
Neil Patel
Gillian Martin
Louis Davies
Nikhil Varghese
UrbanExposure@liberum.com
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END
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November 24, 2020 07:45 ET (12:45 GMT)
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