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LONDON - Anexo Group plc (AIM:ANX), a specialist integrated credit hire and legal services provider, announced Tuesday plans to return up to £12 million to shareholders through a tender offer priced at 60 pence per ordinary share.
The tender price represents an 18 percent premium to the closing price of 51 pence on April 17, 2025, and a 14 percent premium to the volume weighted average price over the month prior to that date.
Eligible shareholders will be able to tender shares representing 46.5 percent of their holdings registered as of the August 7, 2025 record date. The tender offer opens Tuesday and will close at 1:00 p.m. on August 7.
The company stated that shareholders may submit tenders exceeding their basic entitlement, which will be accepted only if other eligible shareholders tender less than their entitlement or do not participate.
Shore Capital will implement the tender offer by purchasing the tendered shares at the offer price and subsequently selling them to the company through on-market transactions on AIM.
Separately, Bidco, an entity controlled by joint bidders who currently own approximately 62.99 percent of Anexo’s issued share capital, announced a recommended takeover offer for the remaining shares not already under its control. The company noted that the tender offer and takeover offer are independent of each other and not conditional upon one another.
The tender offer requires shareholder approval at a general meeting scheduled for August 6, 2025. Anexo has received irrevocable undertakings to vote in favor of the resolution from shareholders representing approximately 63.52 percent of the company’s issued share capital.
Full details of the tender offer will be included in a circular expected to be published on the company’s website Tuesday.
This article is based on a press release statement from Anexo Group.
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