REG - Northern Bear Plc - Result of Tender Offer

Northern BearAnnouncement

29/11/2023 07:00

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RNS Number : 9782U  Northern Bear Plc  29 November 2023

29 November 2023

Northern Bear plc

("Northern Bear," the "Company" or, together with its subsidiaries, the
"Group")

 

Result of Tender Offer

Northern Bear (LSE:NTBR), the AIM quoted holding company of the group of
companies providing specialist building and support services headquartered
in Northern England and serving customers across the UK, is pleased to
announce the results of the Tender Offer, details of which were set out in the
circular published by the Company on 23 October 2023 (the "Circular").

Under the Tender Offer, valid applications to tender shares were received in
respect of 7,831,399 Ordinary Shares. As the maximum aggregate number of
Ordinary Shares that could be purchased pursuant to the Tender Offer was
5,000,000, certain valid applications to tender shares under the Tender Offer
will be scaled back and a total of 5,000,000 Ordinary Shares will be purchased
by the Company. Payment of the consideration due to Shareholders whose tender
applications under the Tender Offer have been accepted is expected to be
despatched (by cheque or by a CREST payment, as appropriate) on or before 8
December 2023. A further update regarding the Tender Offer and final
allocations will be announced later this week.

The total value to be returned to shareholders of the Company pursuant to the
Tender Offer will be £3.1 million.

Capitalised terms used but not otherwise defined in this announcement have the
meaning given to them in the announcement issued by the Company on 23 October
2023.

For further information, please contact:

 Northern Bear PLC                               +44 (0) 166 182 0369

 Harry Samuel - Interim Non-Executive Chairman

 Tom Hayes - Finance Director

 Strand Hanson Limited (Nominated Adviser)       +44 (0) 20 7409 3494

 James Harris

 James Bellman
                                                 +44 (0) 20 3764 2341

 Hybridan LLP (Nominated Broker)

 Clarie Louise Noyce

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018.

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