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LONDON - Primary Health Properties PLC (LSE:PHP) has completed the compulsory acquisition of all remaining shares in Assura Plc (LSE:AGR), finalizing the merger between the two healthcare property companies, according to a press release statement issued Wednesday.
PHP has applied for admission of 24,950,071 new shares to the London Stock Exchange and Johannesburg Stock Exchange, with trading expected to commence Thursday, October 16.
The squeeze-out procedure, conducted under sections 974-991 of the Companies Act 2006, follows PHP’s recommended cash and shares offer for Assura announced on June 23, 2025. The final closing date for acceptances was October 13.
Shareholders who made valid elections for "More Shares" under the mix and match facility will receive 0.50727295 new PHP shares for each Assura share. Those who elected for "More Cash" will receive 0.19956281 new PHP shares and 0.31848018 pence in cash per Assura share.
Equiniti will contact remaining Assura shareholders to explain how they can claim their consideration. For shareholders in restricted territories, their share entitlements will be sold in the market with net proceeds remitted to them.
PHP indicated it will make a further announcement Thursday confirming the admission of new shares has become effective.
The company stated there have been no material changes affecting matters contained in PHP’s June 13 announcement as supplemented by the recommended offer announcement of June 23.
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