Tigné Mall plc - Conditional Voluntary Takeover Bid Results
On 9 October 2024, Tigné Mall plc announced it was informed that as at the end of the acceptance period of the Conditional Voluntary Takeover Bid, a total of 25,483,208 ordinary shares, representing just over 45.18% of the entire issued share capital of the Company were received.
In a letter to the Directors of Tigné Mall, Marsamxett Properties Ltd stated that all the conditions set out in the Offer Document were fully satisfied and that the Voluntary Bid is now unconditional in all respects.
Once payment has been transferred to the outgoing shareholders by not later than 22 October 2024, Marsamxett Properties is expected to hold 53,504,689 ordinary shares, reflecting just under 94.87% of the issued share capital of Tigné Mall. Accordingly, Marsamxett Properties confirmed its intention to exercise its right to require all the remaining shareholders of Tigné Mall to sell and transfer to it the remaining shares, through a “Squeeze-out”. Following completion of Voluntary Bid and the exercise of the Squeeze-out, Marsamxett Properties intends to apply for the de-listing of the ordinary shares of Tigné Mall.
Rizzo, Farrugia & Co. (Stockbrokers) Limited is acting as Manager, Registrar, Collecting & Paying Agent in connection with the Conditional Voluntary Public Takeover Offer.