![]() Bidco has received irrevocable commitments and non-binding letters of intent to vote in favour of the resolutions relating to the Scheme and the Acquisition at the Meetings (or in the event that the Acquisition is implemented by an Offer, to accept such Offer), in respect of, in aggregate, 27,066,151 TEG Shares (representing approximately 39.51 per cent.The Acquisition values TEG's entire issued, and to be issued, ordinary share capital at approximately £287 million on a fully diluted basis, and implies a multiple of approximately 7.3 times TEG's Group Adjusted EBITDA after rental costs for the twelve months ended 2 July 2023.to the IPO price of 165.0 pence per TEG Share on 13 April 2017. to the all-time high price of 334.5 pence per TEG Share which was achieved in Q1 2020 just before the Covid-19 pandemic and to the Closing Price of 310.0 pence per TEG Share on 5 December 2023 (being the last Business Day before the date of this announcement) to the volume-weighted average price of 281.9 pence per TEG Share and 275.6 pence per TEG Share for the six-month and twelve-month period ended 5 December 2023 respectively (being the last Business Day before the date of this announcement) The Acquisition Price per TEG Share represents a premium of approximately:.Under the terms of the Acquisition, each TEG Shareholder will be entitled to receive:.It is intended that the Acquisition will be implemented by way of a court-sanctioned scheme of arrangement under Part 26 of the 2006 Act. The boards of directors of Neon Buyer Limited (" Bidco") and Ten Entertainment Group plc (" TEG") are pleased to announce that they have reached agreement on the terms and conditions of a recommended cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of TEG.To be implemented by means of a scheme of arrangement Investment funds advised by Trive Capital Partners LP) (a newly formed company indirectly owned by ![]() THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION ![]()
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