26th Apr 2019 16:00
LONDON (Alliance News) - RDL Realisation PLC said Friday that ordinary shareholders in the company and those holding zero dividend preference shares have not been able to come to an agreement on a suitable price for the redemption of ZDP shares before the end of July 2021.
The company noted that ordinary shareholders within the discussion proposed a maximum redemption price of 120.75 pence per ZDP share, while some ZDP shareholders have indicated a willingness to agree a price as low as 122p.
In addition, the discussions have included a proposal that a representative of a significant ordinary shareholder might request an appointment to RDL's board to facilitate the implementation of any agreed outcome.
"At this stage, neither the board of the company or the directors of ZDP Co has been asked to consider whether or not they would agree or recommend (respectively) any specific proposal nor have they considered the steps required to implement any such transaction should it be approved and recommended," RDL said in a statement.
Shares in RDL Realisation were up 0.7% at 367.90 pence on Friday.
Related Shares:
RDL.L