27 Sep 2019 07:00
FOR IMMEDIATE RELEASE
The Local Shopping REIT plc (the "Company" or "LSR")
Tender Offer for up to 61,484,576 LSR Shares ("Tender Offer")
27 September 2019
The board of The Local Shopping REIT plc (the "Board" or the "LSR Directors") notes that at 1.00 p.m. on 26 September 2019, the close of the Tender Offer extension period of 14 calendar days following the Closing Date for the Tender Offer on 12 September 2019, further valid tenders had been received in respect of 631,058 LSR Shares, representing 2.71 per cent. of the issued ordinary share capital of the Company (excluding LSR Shares held in treasury) and 27.35 per cent. of the LSR Shares in issue (excluding LSR Shares held in treasury and LSR Shares held by Thalassa).
It is anticipated that the further LSR Shares tendered pursuant to the Tender Offer, as notified above, will be purchased and cancelled on Monday, 30 September 2019, at which time Thalassa will be interested in 92.62 per cent. of the issued share capital of the Company (excluding shares held in treasury). LSR Shareholders can expect to receive the proceeds from the sale of the further LSR Shares they have tendered, at 31.33p per LSR Share, by 8 October 2019.
Save where otherwise defined herein, capitalised terms and expressions used in this announcement have the meanings given to them in the Circular.
ENDS
Enquiries:
The Local Shopping REIT plc
William A Heaney
Company Secretary
020 7355 8800
BDO LLP (Independent Rule 3 Adviser to the Company)
John Stephan
Susan Jarram
020 7486 5888