QUINTAIN ESTATES & DEVELOPMENT - TAKEOVER
CORPORATE ACTION REFERENCE: 201501123
This corporate action is a Takeover.
If you would like further information about the terminology used in this notification, please visit our Ask A Question site
Offer made by Bailey Acquisitions LTD
Tender Price: GBP 1.31
Option 1: Cash
Option 2: No Action (DEFAULT)
IF YOU WISH TO TAKE NO ACTION, OPTION 2, PLEASE DO NOT REPLY.
If Bidco receives acceptances under the Offer in respect of, and/or otherwise acquires, not less than 90 percent of the Quintain Shares to which the Offer relates by nominal value and voting rights attaching to such shares, Bidco intends to exercise its rights pursuant to section 979 of the UK Companies Act to acquire compulsorily the remaining Quintain Shares.
After the Offer becomes or is declared unconditional in all respects and if Bidco has by virtue of its shareholdings and acceptances of the Offer acquired, or agreed to acquire, Quintain Shares representing at least 75 percent of the voting rights of Quintain, Bidco intends to procure the making of an application by Quintain for cancellation, respectively, of the trading in Quintain Shares on the London Stock Exchange`s main market for listed securities and of the listing of Quintain Shares on the premium listing segment of the Official List.
A notice period of not less than 20 Business Days before the cancellation will commence on the date on which the Offer becomes or is declared unconditional in all respects provided Bidco has attained 75 percent or more of the voting rights as described above or otherwise as soon as Bidco attains 75 percent or more of the voting rights of Quintain as described above.
Delisting would significantly reduce the liquidity and marketability of any Quintain Shares not assented to the Offer.
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.
Please note that this page does not constitute investment or tax advice. If you are unsure of what option to take, or if you are in any doubt as to your tax position, please contact your financial advisor.
IF YOU ARE AN ISA OR SIPP CLIENT YOUR OPTIONS MAY DIFFER.