8th May 2019 11:45
LONDON (Alliance News) - Local Shopping REIT PLC on Wednesday said it will pursue all options to return capital to shareholders as the offer for the company by Thalassa Holdings Ltd lapsed on Friday due to a lack of acceptances.
Among the options being considered by the real estate investment trust is the liquidation of the company.
On Friday, Thalassa said it had received acceptances for 11.4 million Local Shopping REIT shares, or 19% of the company, for its 14.64 pence per share in cash plus 0.26 Thalassa consideration shares offer.
Including its own holding, Thalassa owned or had obtained acceptances for 32.4 million shares, approximately 39% of Local Shopping REIT, failing to achieve the necessary level to declare the offer unconditional.
The shares of Local Shopping REIT and Thalassa Holdings were both untraded on Wednesday, last seen at 28.65p and 80.01p respectively.
Related Shares:
Thalassa (di)LSR.L