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Pin to quick picksThalassa (di) Regulatory News (THAL)

Share Price Information for Thalassa (di) (THAL)

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Share Price: 26.00
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Change: 0.50 (1.96%)
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Lapse of Thalassa Offer

8 May 2019 10:49

RNS Number : 3776Y
Local Shopping REIT (The) PLC
08 May 2019
 

FOR IMMEDIATE RELEASE

 

The Local Shopping REIT plc (the "Company" or "LSR")

 

Lapse of Thalassa Offer

 

8 May 2019

 

The board of The Local Shopping REIT plc (the "Board" or the "LSR Directors") notes the announcement by Thalassa Holdings Ltd ("Thalassa") on 3 May 2019 that the acceptance condition for its offer had not been satisfied as at the offer's fifth closing date on 3 May 2019 and that, accordingly, the offer had lapsed.

 

The Board will now pursue all options reasonably open to the Company to return capital to shareholders, including the liquidation of the Company, in accordance with the Company's investment policy and as further mandated by LSR shareholders at the General Meeting held on 5 April 2019. The Board will invite Thalassa to meet with it to explore how it may achieve returning capital to shareholders on terms it believes will be acceptable to shareholders. However, the Board will not allow this process to materially delay a petition to the Court for a just and equitable winding up as outlined in the Company's defence document dated 12 March 2019.

 

ENDS

 

Enquiries:

 

The Local Shopping REIT plc

William A Heaney

Company Secretary

020 7355 8800

 

Tavistock (Financial PR)

Jeremy Carey

Simon Hudson

020 7920 3150

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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