Vector Capital PLC (GB:VCAP) has released an update.
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Vector Capital PLC has announced a tender offer to return up to £3.71 million to shareholders, with a proposed cancellation of trading on AIM, and a general meeting set for August 20, 2024. Shareholders will be offered 33 pence per share, a significant premium over recent closing prices, with an irrevocable undertaking from a major shareholder ensuring the likely approval of the resolutions. The company, facing limited medium-term growth and market challenges, believes delisting from AIM and providing a capital return is in the best interest of shareholders.
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