REG - Vector Capital PLC - Result of Tender Offer, TVR & Directors' interests

Vector CapitalAnnouncement

06/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240906:nRSF0980Da&default-theme=true

RNS Number : 0980D  Vector Capital PLC  06 September 2024

Vector Capital plc

 

("Vector Capital" or the "Company")

 

Result of Tender Offer, Total Voting Rights

and

Directors' interests

 

Vector Capital announces the results of its Tender Offer, details of which are
set out in the Circular published on 2 August 2024.

The Tender Offer closed at 1.00 p.m. on 3 September 2024 and valid tenders
were received in respect of 10,460,746 Ordinary Shares, representing
approximately 23.12 per cent. of the issued share capital of Vector Capital as
at 31 July 2024 (being the latest practicable date prior to publication of
this announcement). Subject to the remaining Tender Conditions described in
paragraph 2 of Part V of the Circular being satisfied, the 10,460,746 Ordinary
Shares validly tendered are expected to be purchased on 10 September 2024, at
the Tender Price of 33 pence per Ordinary Share. Following which the Ordinary
Shares validly tendered and purchased by the Company, will be cancelled, with
effect from 10 September 2024 ("Cancellation").

CREST accounts will be credited with Tender Offer proceeds on 10 September
2024. On 10 September 2024 cheques will be despatched for Tender Offer
proceeds in respect of successfully tendered certificated Ordinary Shares and
the balance of share certificates in respect of unsold certificated Ordinary
Shares will be despatched.

Total Voting Rights

Following the closing of the Tender Offer and the Cancellation referred to
above, on 13 September 2024, the Company will have 34,783,639 Ordinary Shares
in issue with no Ordinary Shares held in treasury. Therefore, the total number
of voting rights in the Company will be 34,783,639 which may be used by
Shareholders as the denominator in the calculations by which they may
determine if they are required to notify their interest, or a change to their
interest, in the Company under the FCA's Disclosure Guidance and Transparency
Rules.

Directors' and PDMR participation in Tender

Certain Directors' and persons discharging managerial responsibilities
("PDMR") have validly tendered their Ordinary Shares pursuant to the Tender
Offer. Details of which are set out below:

 Name          Title                   Number of Ordinary Shares validly tendered
 Ross Andrews  Non-Executive Director  263,158
 Total                                 263,158

 

Directors' interests

Following the purchase of the Ordinary Shares validly tendered and the
Cancellation, on 13 September 2024, the interests of each Director and each
PDMR will be as set out below:

 Name          Title                    Number of Ordinary Shares held pre the Tender Offer  Number of Ordinary Shares to be held post the Tender Offer  % of Company's total voting rights immediately following Cancellation
 Agam Jain*    Chief Executive Officer  34,000,000                                           34,000,000                                                  97.7
 Ross Andrews  Non-Executive Director   263,158                                              Nil                                                         Nil
 Total                                  34,263,158                                           34,000,000

*Agam Jain - 22,055,898 Ordinary Shares

Arti Jain - 6,778,806 Ordinary Shares

Pooja Jain - 5,165,296 Ordinary Shares

 

The Company is scheduled to have its trading in its shares on AIM cancelled
with effect from 7.00am on 16 September 2024.

Defined Terms

Defined terms in this announcement have the same meaning as in the Circular
(unless otherwise specified).

For further information please contact:

Vector Capital plc

Robin Stevens

Agam Jain

c/o IFC Advisory Limited

Zeus Capital Limited

Hugh Morgan, Darshan Patel

+44 (0) 20 3829 5000

IFC Advisory Limited

Graham Herring, Florence Chandler, Zach Cohen

+44 (0) 20 3934 6630

 

About Vector Capital:

Vector Capital provides secured, business-to-business loans to SMEs based
principally in England and Wales. Loans are typically secured by a first
legal charge against real estate. The Group's customers typically borrow for
general working capital purposes, bridging ahead of refinancing, land
development and property acquisition. The loans provided by the Group are
typically for renewable 12-month terms with fixed interest rates.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under Article 7 of the Market Abuse
Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018.

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  RTEUPUWWBUPCGUA