Result of Tender Offer

RNS Number : 2872O

Edinburgh Dragon Trust plc

28 January 2019

 

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND AND THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MAY RESULT IN THE CONTRAVENTION OF ANY REGISTRATION OR OTHER LEGAL REQUIREMENT OF SUCH JURISDICTION

 28 January 2019

Edinburgh Dragon Trust plc

(LEI: 549300W4KB0D75D1N730)

Results of the Tender Offer

Edinburgh Dragon Trust plc (the "Company") today announces the results of the Tender Offer set out in the circular to Shareholders published by the Company on 21 December 2018 (the "Circular"). The Tender Offer closed at 1.00 p.m. on 22 January 2019.

The Board announces that a total of 112,286,414 Shares, being 60.5 per cent. of the Company's Shares in issue (excluding treasury shares) as at 22 January 2019, were validly tendered under the Tender Offer. As a result, the Tender Offer was oversubscribed. The Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 17.6 per cent. of the excess Shares tendered.

The Company's unaudited Net Asset Value (cum income) as at the close of business on 24 January 2019, being the Calculation Date for the purposes of the Tender Offer, was 399.91 pence per Share. Accordingly, the Tender Price, calculated in accordance with the Circular is 388.69 pence per Share.

A total of 55,692,676 Shares have been repurchased by the Company today under the Tender Offer and cancelled. It is expected that payments in respect of successfully tendered uncertificated Shares will be made through CREST by 30 January 2019 and that cheques will be dispatched in respect of successfully tendered certificated Shares on 4 February 2019.

Following implementation of the Tender Offer, the Company will have 129,949,903 Shares in issue (excluding 29,661,774 Shares which are held in treasury). The total number of Shares with voting rights in the Company will be 129,949,903 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

Defined terms used in this announcement have the meanings given in the Circular unless the context otherwise requires.

The information contained within this announcement is considered to be inside information prior to its release as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations. Aberdeen Asset Managers Limited is the Company Secretary and is responsible for arranging the release of the announcement on behalf of the Company.  

Enquiries:

Aberdeen Standard Fund Managers Limited

William Hemmings                                            020 7463 6000

Winterflood Securities Limited                        020 3100 0000

Joe Winkley/Neil Morgan

 

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