Results of Tender Offer

RNS Number : 7237D

Port Erin Biopharma Investments Ltd

02 February 2015

 

Port Erin Biopharma Investments Ltd

2 February 2015

 

For immediate release

2 February 2015

Port Erin Biopharma Investments Limited

 (the "Company")

Results of Tender Offer

On 13 January 2015 Port Erin Biopharma Investments Limited ("PEBI" or the "Company") published and sent to shareholders a circular (the "Circular") setting out the terms of a tender offer in respect of a the Company's interest in the Magna Biopharma Income Fund (the "Tender Offer").

The Record Date for the Tender Offer was 1.00 p.m. on 30 January 2015.

The Company hereby announces that, following expiry of the Record Date the Company had received acceptances from, in aggregate, 50.68 per cent. of shareholders of the Company (including Mr James Mellon (the Chairman of the Company) and Mellon Associates (as defined in the Circular)).

The Company will announce by 8.00 a.m. on 5 February 2015 the maximum Tender Entitlement (as defined in the Circular) of each shareholder accepting the Tender Offer, and the tender price per share that shareholders will receive.

The Tender Offer will then close at 5.00 p.m. on 5 February 2015.

For further information, please contact:

Port Erin Biopharma Investments Limited	Beaumont Cornish Limited	Peterhouse Capital Limited
The Company	Nomad	Broker
Denham Eke [phone]	Roland Cornish [phone]	Lucy Williams [phone]

 

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