Sell-out letter to minority shareholders

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Sell-out letter to minority shareholders

Sell-out letter to minority shareholders

[Letterhead of offeror]

To: [insert name and address of shareholder]

[insert date]

Dear Shareholder

Offer by [insert name of offeror] (the Offeror) to acquire [all] the issued [and to be issued][ordinary] shares of [insert value]p each (ordinary shares) in [insert name of offeree] PLC (the Company) [(other than those already owned by the Offeror)] (the Offer)

We refer to the offer document dated [insert date] (the Offer Document) in which we offered to acquire all the issued [and to be issued] ordinary share capital of the Company[(other than shares already owned by the Offeror)].

As you may be aware, the Offer was declared unconditional on [insert date][, and closed on [insert date]]. As at 3.00 pm on this [last] date, the Offeror had, by virtue of acceptances of the Offer, acquired or unconditionally contracted to acquire ordinary shares which[, together with the ordinary shares which the Offeror already holds and has otherwise acquired (whether conditionally or unconditionally),] represent [insert number, which must be at least 90]% in value of all the ordinary shares in issue at that time and carry [insert number, which must be at least 90]% of the voting rights attaching to them.

Consequently, we are now required in accordance with sections 983 to 985 of the Companies Act 2006 (the Act) to notify all holders of ordinary shares who have not accepted the

Popular documents