Proposed Tender Offer

RNS Number : 6293D

Edinburgh Dragon Trust plc

10 October 2018

 

EDINBURGH DRAGON TRUST PLC

Legal Entity Identifier (LEI): 549300W4KB0D75D1N730

This announcement includes inside information

Proposed Tender Offer

10 October 2018

The Board of Edinburgh Dragon Trust PLC (the "Company") has undertaken a shareholder consultation exercise ahead of the Company's continuation vote in December 2018.

As a result of this consultation exercise the Board announces that, if the continuation vote is passed, it intends to undertake a tender offer for up to 30 per cent. of the ordinary shares in issue at a tender price equal to 98 per cent. of the prevailing net asset value (less the costs of implementing the tender offer).

The Board intends to post a circular to shareholders in due course containing details of the tender offer, timetable and the procedure for tendering shares. It is expected that the tender offer will take place in early 2019.

The Company's largest shareholder, City of London Investment Management, representing 22.3% of the Company's issued share capital has provided an irrevocable undertaking to vote in favour of both the Company's continuation and the tender offer.

Enquiries:

William Hemmings, Aberdeen Fund Managers Limited                  020 7463 6000

Joe Winkley, Winterflood Securities Limited                                   020 3100 0000

 

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