RSA Insurance Group (GB:RSAB) has released an update.
RSA Insurance Group Limited has reported significant shareholder participation in its cash tender offer, with over a third of the outstanding cumulative irredeable preference shares being tendered as of the institutional expiration deadline. The tender offer is part of a broader capital reduction strategy, which includes both the cancellation of these preference shares and the company’s share premium account, subject to shareholder approval at an upcoming general meeting. While the tender offer remains open for retail investors until July 10, 2024, the company reserves the right to modify or terminate the offer depending on certain conditions.
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