Tender Offer Results

RNS Number : 6760A

Witan Pacific Investment Trust PLC

01 October 2020

 

1 October 2020

Witan Pacific Investment Trust plc

Tender Offer Results

The board of Witan Pacific Investment Trust plc (the "Company") is pleased to announce the results of the tender offer to purchase up to 40 per cent. of the Company's issued share capital (excluding shares held in treasury) (the "Tender Offer") as detailed in the circular published by the Company on 24 August 2020 (the "Circular").

17,401,665 Shares, being 26.38 per cent. of the Company's issued share capital as at 6.00 p.m. on 24 July 2020 (the "Record Date") were validly tendered pursuant to the Tender Offer. Tenders will therefore be accepted in full from Shareholders who validly tendered their Shares.

The Company's unaudited NAV per Share as at the close of business on 28 September 2020, being the Calculation Date for the purposes of calculating the Tender Price, was 391.8137 pence per Share. Accordingly, the Tender Price calculated in accordance with the Circular is 387.8956 pence per Share.

17,401,665 Shares will be purchased by J.P. Morgan Cazenove pursuant to the Tender Offer on 2 October 2020 for a total consideration of approximately £67.5 million. This represents 26.38 per cent. of the issued share capital of the Company as at the Record Date.

The Shares purchased pursuant to the Tender Offer will be held in treasury by the Company.

Following the implementation of the Tender Offer, the Company will have 65,944,000 Shares in issue (of which 22,451,761 Shares will be held in treasury, which attract no voting rights). Therefore, the total number of voting rights in the Company will be 43,492,239 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 under the FCA's Disclosure and Transparency Rules.

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

For further information please contact:

Witan Pacific Investment Trust plc, via J.P. Morgan Cazenove

Susan Platts-Martin (Chair)

J.P. Morgan Cazenove  [phone]

William Simmonds

Harry Randall

LEI: 213800KOK5G3XYI7ZX18

 

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