8 November 2023 - tender offer
The Leeds-based property group has announced details of a tender offer as it looks to return cash to shareholders. It is proposing to buy up to 7.5m shares at 145p per share. This represents 15.5% of the equity of the group and the price to be paid is a premium of 22.4% to the closing price of 118.5p at the close of business on 7 November. Obviously. we only tipped the shares at 114p in the October issue of the newsletter as the share price stood at a significant discount . . .
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