CLS Holdings PLC - London-based commercial property investor - Proposes tender offer of up to GBP25.5 million, via repurchasing of up to 10.2 million shares at 250 pence each. The amount constitutes one in every 40 of its shares. Says the offer will help to fix the "unjustified" share price discount to net tangible assets per share. Its NTA per share was last recorded as 352.8p as of June 30. The offer price is a 19% premium to the share price on Friday, and a 23% premium to the average price over the last 30 business days. Offer will close on September 9, when the company will hold a general meeting to approve it.
Current stock price: 212.11p
12-month change: down 16%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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CLS Holdings (CLI)