27th Jun 2005 06:00
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR THE REPUBLIC OF IRELAND London & Associated Properties PLC ("London & Associated Properties") Result of Tender Offer The Board of London & Associated Properties announces that pursuant to theTender Offer made by Panmure Gordon & Co, which closed at 5.00 p.m. on 24 June2005, tenders for 5,928,273 Ordinary Shares have been conditionally accepted.The Strike Price for the Tender Offer is 104 pence per Ordinary Share, the topend of the range of 97 - 104 pence, which will result in the return of ‚£6,165,404 of capital. The Tender Offer remains conditional on the passing ofthe special resolution at the extraordinary general meeting at 10.00 a.m.today.The purchase of the tendered Ordinary Shares will be effected by Panmure Gordon& Co on Tuesday 28 June 2005. London & Associated Properties will subsequentlyacquire from Panmure Gordon & Co, at the Strike Price of 104 pence, theOrdinary Shares purchased by Panmure Gordon & Co under the Tender Offer. Of theOrdinary Shares so purchased, all will be held by London & AssociatedProperties in treasury. This will result in there being 76,229,499 OrdinaryShares in issue for reporting purposes under section 198 of the Companies Act.The total number of shares now held in treasury is 6,087,473.The consideration for the Tender Offer is expected to be despatched on 5 July2005 to those Shareholders who have successfully tendered Ordinary Shares underthe Tender Offer.Definitions used in this announcement have the same meanings given in thecircular sent to Shareholders dated 2 June 2005 setting out the formal terms ofand condition to the Tender Offer.ENQUIRIESLondon & Associated Properties plc John Heller, Chief Executive 020 7415 5000 Robert Corry, Finance Director Panmure Gordon & Co 020 7459 3600 Andrew Godber Andrew Potts Baron Phillips Associates 020 7920 3161 Baron Phillips Panmure Gordon (UK) Limited, which is regulated in United Kingdom by theFinancial Services Authority, is acting for London & Associated Properties andfor no-one else in connection with the Tender Offer and will not be responsibleto anyone other than London & Associated Properties for providing theprotections afforded to customers of Panmure Gordon (UK) Limited or forproviding advice in connection with the matters set out in this announcement orany transaction or arrangement referred to herein.ENDLONDON AND ASSOCIATED PROPERTIES PLCRelated Shares:
London & Associated Properties