Aviva Provides Update on Preference Share Tender Offer
Why we think this is neutral
This RNS announcement provides an update on Aviva's tender offer for its preference shares. It does not contain any financial figures, trading updates, or other mandatory news types, so a neutral sentiment score is appropriate.
Key Points
- Aviva has provided an update on its tender offer for preference shares
- As of the Institutional Expiration Deadline, £33.9 million in preference shares had been validly tendered, representing 17% of the outstanding shares
- The tender offer remains open for retail investors until 8 April 2025
- Aviva is convening shareholder and preference shareholder meetings to consider the cancellation of the preference shares
Summary
Aviva plc has provided an update on its tender offer for the outstanding £100 million 8.375% and £100 million 8.750% cumulative irredeemable preference shares. As of the Institutional Expiration Deadline, the Offeror had received valid tenders for £33.9 million in aggregate nominal amount of the preference shares, representing 17% of the outstanding shares. The tender offer remains open for retail investors until the Retail Expiration Deadline of 8 April 2025. The company is also convening meetings of shareholders and preference shareholders to consider the cancellation of the preference shares.