RE: Cash Offer22 Jul 2021 16:23
Got the followING FROM iweb
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WATCHSTONE GROUP PLC - Take-Over
Mandatory Cash Offer by Polygon Global Partners LLP (Polygon).
34 pence for each Watchstone Group PLC (Watchstone) share held.
You Have The Following Option:
1 Accept the Offer on your holding of 1057 WATCHSTONE GROUP ORD GBP0.1 shares.
We will process your instruction on or after 01 August 2021 23:59 and your election will be applied to your holding at this time. If you elect to accept the Offer, your shares will not be available for you to sell, or to accept any other Offer unless this Offer lapses. Please note that if you accept the Offer and proceed to sell your shares, you may be liable to buy back costs.
Important Information & Other Key Dates:
On 1st July 2021, Polygon announced it held 30 percent of the total Watchstone shares. Subsequently, under Rule 9 of the Takeover Code, Polygon is required to make a Mandatory Cash Offer (the Offer) for all of the Watchstone shares not already held by Polygon.
The Offer Price represents the highest price paid by Polygon and persons acting in concert with Polygon during the 12 months prior to the announcement of the Offer.
If you wish to accept the Offer, please do so as soon as possible as the Offer may not be extended.
Acceptance to this Offer will only be applied to the number of shares you hold at the time we process your instruction.
Please note that should you elect to accept the Offer, your shares will be removed from your account after our Advice Date.
To the extent that Polygon controls Watchstone shares carrying 75 percent or more of the voting rights attaching to the Watchstone shares by virtue of valid acceptances of the Offer or otherwise, Polygon intends that an application will be made to the AQSE Growth Market to cancel trading in Watchstone Shares on the AQSE Growth Market.
Please note, the listing and registration of Watchstone shares was cancelled from the Alternative Investment Market on 7th July 2021.
If Polygon receives acceptances under the Offer in respect of, and/or otherwise acquires 90 percent or more of the Watchstone shares and assuming that all of the other conditions of the Offer have been satisfied or waived, Polygon intends to exercise its rights pursuant to the provisions of Chapter 3 of Part 28 of the Companies Act to acquire compulsorily the remaining Watchstone shares on the same terms as the Offer.
CONTINUED