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  5. Capital & Counties Says Second Tranche Of Shaftesbury Buy Approved

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Capital & Counties Says Second Tranche Of Shaftesbury Buy Approved

Mon, 10th Aug 2020 14:50

(Alliance News) - Capital & Counties Properties PLC on Monday said shareholders have approved the acquisition of the second tranche of shares in Shaftesbury PLC.

In May, the London-focused property investor agreed to purchase a 26% stake across two tranches in Shaftesbury - a real estate company focused on London's west-end entertainment district.

The first tranche of a 21% stake completed in June.

At the general meeting on Monday, Capital & Counties' shareholders approved the acquisition of the second tranche which comprises 16.3 million shares. The vote saw 72% of shareholders vote in favour of the purchase while 28% were opposed.

The acquisition of the second tranche is expected to complete on Thursday.

Shares in Capital & Counties were trading 1.1% lower at 135.30 pence each while Shaftesbury shares were trading 1.0% lower at 536.00p each.

Financial markets were closed in Johannesburg on Monday, with CapCo last closing at ZAR31.24 each.

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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3 Mar 2023 10:06

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Shaftesbury and Capital & Counties merger scheme implemented

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Capital & Counties focuses on Shaftesbury merger after annual loss

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Capital & Counties slides as it swings to loss

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UK dividends calendar - next 7 days

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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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