REG - Logistics Dev Grp - Results of Tender Offer

Logistics DevelopmentAnnouncement

24/04/2025 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250424:nRSX9433Fa&default-theme=true

RNS Number : 9433F  Logistics Development Group PLC  24 April 2025

24 April 2025

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE
INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO.
596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Logistics Development Group plc

(or "LDG" or the "Company")

Results of Tender Offer

LDG announces the results of the Tender Offer to return up to £21,000,000 to
shareholders at a Tender Price of 19 pence per Ordinary Share, as set out in
the circular published by the Company on 28 March 2025 (the "Circular"), which
closed at 1.00 p.m. on 22 April 2025.

Results of Tender Offer

The Company offered to purchase up to 110,526,315 Ordinary Shares (being
approximately 21.08 per cent. of the Company's existing issued share capital)
under the Tender Offer.

Valid tenders were received for Basic Entitlements in respect of 105,721,869
Ordinary Shares, which will be satisfied in full.

Valid Excess Tenders will be accepted in proportion to the number of Ordinary
Shares tendered so that the total number of Ordinary Shares purchased pursuant
to the Tender Offer will equal 110,526,315 in aggregate, save that Excess
Tenders will be satisfied in full in respect of shareholders holding 1,000
Ordinary Shares or less who have validly tendered their entire holding.

In aggregate, 110,526,315 Ordinary Shares tendered under the Tender Offer will
be repurchased by the Company and cancelled.

It is expected that cheques will be despatched and CREST accounts will be
credited with proceeds in respect of successfully tendered shares on or before
6 May 2025.

Total Voting Rights

Following the repurchase and cancellation of the Ordinary Shares set out above
the Company's issued share capital shall comprise 413,824,079 Ordinary Shares,
of which none are held in treasury. Hence the figure of 413,824,079 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 LDG under the FCA's Disclosure Guidance and Transparency
Rules.

Concert Party and Directors shareholdings

Following completion of the Tender Offer, the Concert Party's aggregate
holding will comprise 142,880,989 Ordinary Shares, representing approximately
34.53% of the Company's Ordinary Shares post-Tender.

The following directors of LDG, participated in the Tender Offer:

 Director          Valid Tenders satisfied  Resultant Ordinary Shares held  Resultant % post-Tender
 Adrian Collins    225,459                  774,541                         0.19%
 Colin Kingsnorth  2,669,161                9,169,646                       2.22%

 

Unless otherwise defined herein, capitalised terms used in this announcement
shall have the same meanings as defined in the Company announcement on 28
March 2025.

 

Further enquiries:

 Logistics Development Group plc                        Via FTI Consulting

 FTI Consulting                                         +44 (0) 20 3727 1340
 Nick Hasell / Alex Le May
 Strand Hanson Limited                                  +44 (0) 20 7409 3494

 (Financial and Nominated Adviser)

 James Dance / Richard Johnson / Abigail Wennington
 Investec Bank plc                                      +44 (0) 20 7597 5970

 (Broker)

 Gary Clarence / Harry Hargreaves

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RTEIJMLTMTMTBIA