Quayle Munro Holdings PLC Result of Tender Offer (9654K)

TIDMQYM

RNS Number : 9654K

Quayle Munro Holdings PLC

05 August 2013

FOR IMMEDIATE RELEASE

The distribution of this Announcement in jurisdictions other than the United Kingdom may be restricted by the laws of those jurisdictions and therefore persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. In particular, subject to certain exceptions, this Announcement may not be distributed into or within the United States, Canada, Australia, Japan, the Republic of Ireland, South Africa or any other Restricted Jurisdiction. Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction.

Quayle Munro Holdings PLC

(the "Company")

Result of Tender Offer

The Company announces the result of the Tender Offer set out in its circular to Shareholders dated 12 July 2013 (the "Circular"), which closed on 2 August 2013 following Shareholder approval at the General Meeting of the Company held on 1 August 2013.

573,112 Ordinary Shares were validly tendered under the Tender Offer. All valid tenders will be satisfied in full pursuant to the terms and conditions set out in the Circular. Accordingly, 573,112 Ordinary Shares will be purchased at a price of 563 pence per Ordinary Share, resulting in a total aggregate consideration of approximately GBP3.2 million payable to tendering Shareholders.

As set out in the Circular, the Ordinary Shares in respect of which tenders have been accepted will be purchased by N+1 Singer pursuant to the Tender Offer and the Company will repurchase such tendered Ordinary Shares from N+1 Singer in accordance with the terms of the Repurchase Agreement entered into between the Company and N+1 Singer on 12 July 2013.

The repurchase of Ordinary Shares by the Company from N+1 Singer is expected to occur on 7 August 2013 (and will be initially held in treasury) and the Company will make a further announcement upon the completion of such purchase to notify Shareholders of the Company's total voting rights for the purpose of determining whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

The timetable for settlement of the Tender Offer consideration is expected to be as follows:

 
 Payment through CREST made in respect         7 August 2013 
  of Ordinary Shares held in uncertificated 
  form successfully tendered in the Tender 
  Offer 
 Cheques despatched in respect of Shares      14 August 2013 
  held in certificated form successfully 
  tendered

Capitalised terms in this announcement have the same meaning as in the Circular except where otherwise indicated.

Ends

Enquiries:

 
 Quayle Munro Holdings PLC 
 Andrew Walls, Company Secretary    +44 (0) 20 7907 4268 
 N+1 Singer (Nominated Adviser)     +44 (0) 20 7496 3000 
 Sandy Fraser 
  Jonny Franklin-Adams 
  Alex Wright

This information is provided by RNS

The company news service from the London Stock Exchange

END

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