2 Jul 2014 07:00
TAU CAPITAL PLC
("Tau" or "the Company")
NET ASSET VALUE
Further to the announcement of the Tender Offer made 24 June 2014 the Board is pleased to advise that the estimated Net Asset Value ("NAV") as at close of business on 30 April 2014 is US$0.22 per share.
The Repurchase Price of the Tender Offer is USD$0.218063 per share. This represents a premium of 24.6% to the mid market share price of USD$0.175 on 30 June 2014.
On the basis of a Repurchase Price of USD$0.218063, the below are the final Tender Offer details:
· The maximum number of shares subject to the tender are 24,998,980
· The Basic Entitlement is 33.79%
· The Tender Discount to the unaudited NAV is 0.88%
Full details of the steps to be taken by shareholders wishing to take advantage of the Tender Offer are contained in the Circular posted on 24 June 2014 a copy of which is also available on the web site.
http://www.taucapitalplc.com/investors/events-calendar.html
Capitalised terms not defined in the body of this announcement shall have the meaning given to them in the Circular dated 24 June 2014.
Further information, please contact:
IOMA Fund and Investment Management Ltd Philip Scales | Tel: +44 (0) 1624 681381 |
Numis Securities Ltd Nominated Adviser: Nick Westlake/ Hugh Jonathan Corporate Broking: Alex Ham | Tel: +44 (0) 20 7260 1000
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TAU.L (TAU)