Investing.com - Financial Markets Worldwide

Argo extends tender offer deadline to February 18

Published 14/02/2025, 17:12
Argo extends tender offer deadline to February 18
ARB
-8.70%

LONDON - Argo Group Limited, a company traded on the AIM market of the London Stock Exchange (LON:LSEG), has announced an extension to the deadline for its current tender offer. Following discussions with broker Panmure Liberum Limited, shareholders now have until 1:00 p.m. London Time on Monday, February 18, 2025, to submit their Tender Forms and TTE instructions. The extension does not require action from shareholders who have already tendered their Ordinary Shares.

The tender offer, initially announced on January 16, 2025, involves Argo's intention to repurchase up to 11,221,673 Ordinary Shares at a price of 5 pence per share. This buyback is part of a broader strategy that includes the cancellation of trading of Argo's Ordinary Shares on AIM, approved by shareholders at the Annual General Meeting on February 10, 2025.

With the extension of the tender offer, the last day of dealings in Argo's Ordinary Shares on AIM is now anticipated to be on February 20, 2025. The cancellation is expected to take effect from 7:00 a.m. on February 21, 2025.

The revised timetable indicates that the results of the tender offer will be announced on February 19, 2025, and the purchase of shares under the offer will occur on February 20, 2025. Assured payment obligations for the proceeds of the tender offer for uncertificated Ordinary Shares are to be created by March 4, 2025, with the dispatch of cheques for the tender offer proceeds and balance share certificates for certificated holdings also expected by that date.

This announcement is based on a press release statement and aims to provide shareholders with the necessary information to make informed decisions regarding their investment in Argo Group Limited. The company has advised shareholders to seek independent financial advice if they are unsure about the action they should take in light of this announcement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.