Full details on the Electra Private Equity corporate action, including instructions on how to participate, the options available to you, and any deadline applicable.
Electra Private Equity

Electra Private Equity – Dutch Auction

Corporate action reference: 201601680

Please note we must be in receipt of your instruction by 14 December 2016.

EVENT TERMS

Tender offer for up to 4,651,162 ordinary shares representing approximately 11.55% of the issued ordinary share capital for a maximum aggregate consideration of GBP 200 million. Shareholders can tender all or any of their shares at prices ranging from GBP 43.00 to GBP 46.50 in GBP 0.25 increments, with a Strike Price option also available.

Tenders consideration will be settled in Crest on 23 December 2016, guaranteed entitlement of 10% of each shareholders holding. Guaranteed entitlement is only applicable if tender is oversubscribed and the Strike Price is determined to be the minimum price.

Tenders above the Strike Price will not be accepted. If the tender is scaled back tenders at a price below Strike Price or a Strike Price tender will be accepted before shares tendered at a price which is determined to be the Strike Price. For full details of scaling back refer to the formal circular [PDF, 306KB] which can be found on the company's website.

All shares purchased will be purchased at the same price.

As you hold your shares with a nominee you may have your election scaled back by a greater or lesser percentage than you would if you held your shares in your own name.

If you would like further information about the terminology used in this notification, please visit our Ask A Question site.

EVENT OPTIONS:

Tender Price Option 1: Strike Price
Tender Price Option 2:  GBP 43
Tender Price Option 3: GBP 43.25
Tender Price Option 4: GBP 43.50
Tender Price Option 5: GBP 43.75
Tender Price Option 6: GBP 44

Tender Price Option 7: GBP 44.25

Tender Price Option 8: GBP 44.50

Tender Price Option 9: GBP 44.75
Tender Price Option 10: GBP 45
Tender Price Option 11: GBP 45.25
Tender Price Option 12: GBP 45.50
Tender Price Option 13: GBP 45.75
Tender Price Option 14: GBP 46
Tender Price Option 15: GBP 46.25
Tender Price Option 16: GBP 46.50

To reply to this event, please use the below link stating which option you would like to take.

Please quote corporate action reference 201601680

Option 17: No Action (Default)

IF YOU WANT TO TAKE NO ACTION, OPTION 17, PLEASE DO NOT REPLY.

ADDITIONAL INFORMATION

We will aim to update your account within five business days of receiving the proceeds.

Overseas residents should consult their professional advisers as to whether they require any governmental or other consents or need to observe any other formalities to enable them to participate in the offer.

By accepting the offer, you will be representing to us that local laws and regulatory requirements have been complied with, including the obtaining of any governmental, exchange control and other consents that may be required and the payment of any issue, transfer or other taxes or duties due in that jurisdiction.

For further information, please view the formal circular [PDF, 306KB] which can be found on the company's website.

Please note that this page does not constitute investment advice. If you are unsure of what option to take please contact your financial advisor.

If you are an ISA or SIPP client your options may differ.

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