LONDON (ShareCast) - (Sharecast News) - FD Technologies announced the results of its tender offer on Friday, after it closed on 22 January, confirming it would purchase the maximum allowable 6,153,846 shares for 1,950p each, returning £120m to shareholders.
The AIM-traded firm said that represented 21.8% of the company's issued share capital as of the tender offer record date.

A total of 9,198,383 ordinary shares were validly tendered, equating to 32.6% of the company's issued share capital.

All basic entitlements were accepted in full, while excess tenders were scaled back on a pro-rata basis.

The purchased shares would be cancelled on 29 January.

FD confirmed that no surplus funds remained, and thus, no special dividend would be declared.

Payments to shareholders whose applications were accepted would be dispatched by cheque or CREST payment by the same date.

As part of the tender offer, substantial shareholder Juliana Conlon participated by tendering 1,561,162 ordinary shares, representing 41.05% of her holding.

The company confirmed that her participation, considered a related party transaction under the AIM rules, had been reviewed and deemed fair and reasonable by the board following consultation with its nominated adviser, Investec Bank.

At 0948 GMT, shares in FD Technologies were down 0.21% at 1,946p.

Reporting by Josh White for Sharecast.com.

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