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Rotala PLC shares dropped on Friday, after is closed its £10.0 million tender offer. In January, Rotala proposed to return £10.0 million to shareholders through a tender offer of 18.2 million shares at 55 pence each. The tender offer price is at a 34% premium to the closing price on January 25, being the last business day before the announcement. The bus operator’s shares were down 7.3% to 46.82 pence each in London on Friday morning. On Friday, Rotala said valid tenders were received in respect of 25.2 million shares. Of the total number of shares validly tendered and purchased by the company, 14.0 million shares will be cancelled, with 4.2 million shares being placed in treasury. It added that since the tender offer was oversubscribed, not all the shares have been accepted and purchased. As part of the tender offer, Kim Taylor tendered 181,818 shares, worth £100,000, Graham Spooner 268,000 shares, worth £147,400, and Graham Peacock 909,091 shares, worth £500,000. Taylor is now interested in 408,738 shares, a 1.32% stake. Spooner is now interested in 532,000 shares, a 1.71% stake. Peacock is now interested in 2.3 million shares, a 7.33% stake. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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