DELIVEROO PLC has announced a proposal to buy back shares by way of a Tender Offer.4 Oct 2023 12:23
DELIVEROO PLC has announced a proposal to buy back shares by way of a Tender Offer.
The Tender Offer will be implemented by way of a Dutch Auction. Shareholders have the following Options.
Option 1: Tender their shares at a Strike Price yet to be determined by the Company.
Option 2: Tender their shares at a price between 115 pence and 135 pence per share. Prices must be specified in increments of 5 pence per share.
If you elect for Option 2 and do not quote a price at which you wish to tender, we will tender your shares at the announced Strike Price. If you quote a price outside of the specified price range or input incorrect increments, your election will be deemed as invalid.
Valid tenders may be subject to scaling back at a basic rate of 12 percent. Tenders made above the strike price will be rejected in full.
We recommend shareholders view the offer circular on the company website available on: https://corporate.deliveroo.co.uk/investors/proposed-tender-offer/
How This Affects You:
Based on your holding of 754 DELIVEROO PLC shares on 03 October 2023, you are entitled to tender up to a maximum of 754 shares.
You Have The Following Options:
1 Accept the Offer and tender any or all of your DELIVEROO PLC CLASS A ORD GBP0.005 shares at the strike price.
Tenders may be scaled back.
If you elect to tender any or all of your DELIVEROO PLC CLASS A ORD GBP0.005 shares, they will not be available for you to sell or accept any other offer unless this Tender Offer does not go ahead, in which case we will notify you.
2 Accept the Offer and tender any or all of your DELIVEROO PLC CLASS A ORD GBP0.005 shares at a fixed price up to the maximum price per share.
Tenders may be scaled back.
If you elect to tender any or all of your DELIVEROO PLC CLASS A ORD GBP0.005 shares, they will not be available for you to sell or accept any other offer unless this Tender Offer does not go ahead, in which case we will notify you.
Important Information & Other Key Dates:
On 28th September 2023, Deliveroo PLC announced their intention to repurchase up to GBP250,000,000 of its shares from Existing shareholders by way of a Dutch Auction.
The purchase price paid for each share successfully tendered will be based on the number of shares tendered and the prices specified by tendering shareholders. Deliveroo will determine the lowest price per share within the range that will enable Deliveroo to purchase up to GBP250,000,000 of shares. All shares tendered at prices higher than the purchase price will be returned to shareholders.
Please note that Dutch Auction may be subject to scaling back (reduction in number of shares tendered). As your Deliveroo shares are held through a nominee, all elections to subscribe will be treated on a nominee level and MAY therefore be subject to scaling back to a greater degree than that of an individual shareholder. Any scaling back will be made in accordance with the instructions from Deliveroo a
