(Alliance News) - Georgia Capital PLC on Wednesday said its exchange offer for Georgia Healthcare Group PLC has closed for acceptances on Tuesday.
Back in November, Georgia Healthcare shareholders were invited to exchange their shares for shares in Georgia Capital, which set the exchange ratio at 0.192 of Georgia Capital share for each Georgia Healthcare share.
At the time, Georgia Capital said it would exchange a maximum of 4.5 million shares, equivalent to 23.6 million shares in Georgia Healthcare. If exercised in full, Georgia Capital's shareholding in Georgia Healthcare would increase to almost 75% from 57%.
On Wednesday, the investment company said it will exchange 17.9 million existing Georgia Healthcare shares, after receiving valid acceptances for 40.9 million shares. As a result, 3.4 million new Georgia Capital shares will be issued.
On completion of the exchange facility, Georgia Capital's shareholding in Georgia Healthcare will increase to 71% from 57%.
Georgia Capital shares were trading 1.2% higher in London on Wednesday morning at 948.00 pence each, while Georgia Healthcare shares were up 0.6% at 165.00p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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