World News: 07:00 GMT Wednesday 11th September 2019. [Eurocastle Investment Limited via Globe Newswire via SPi World News]
Oak Fund Services (Guernsey) Limited
Company Administrator Attn: Mark Woodall
Tel: +44 1481 723450
Guernsey. 11 September 2019 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) (“” or the “”) today announces the results of its €60 million tender offer. On 12 August 2019, Eurocastle sent a circular (the “”) to shareholders in relation to an offer for the repurchase of up to 7.1 million ordinary shares in the Company (“”) for a fixed price of €8.45 per Ordinary Share (the “”).
The Tender Offer closed at 5:00pm (CET) on 10 September 2019. In accordance with the terms and conditions set out in the Circular and based on the final count by the Company’s agent, ABN AMRO Bank N.V., Eurocastle accepted tenders of 7,100,591 Ordinary Shares at a fixed price of €8.45 per Ordinary Share for a total tender amount of €60 million, excluding fees and expenses relating to the Tender Offer. Since the total number of Ordinary Shares tendered exceeded the maximum number of Ordinary Shares subject to the Tender Offer, all tenders of Ordinary Shares in excess of Basic Entitlements (as defined in the Circular) have been scaled back by 99.2440% in accordance with the terms and conditions set out in the Circular. The Ordinary Shares accepted for repurchase represent approximately 16.28% of voting shares in issue as of 10 September 2019 (11.36% of the Ordinary Shares).
The record date for the tendered Ordinary Shares repurchased was 10 September 2019 with settlement expected to occur on 16 September 2019 at which point the repurchased shares will be cancelled. As a consequence:
Eurocastle Investment Limited is a publicly traded closed-ended investment company that focuses on investing in performing and non-performing loans and other real estate related assets primarily in Italy. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol “ECT”. Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global investment manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit .
Globe Newswire: 07:00 GMT Wednesday 11th September 2019
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