Safeland PLC – Proposed Tender Offer & Proposed Cancellation

Safeland PLC – Proposed Tender Offer & Proposed Cancellation

Safeland (AIM: SAF), the property trading and investment company, announces a proposed tender offer and the proposed cancellation of the admission of its Ordinary Shares to trading on AIM conditional on approval by Shareholders.

The Tender Offer provides Shareholders who do not wish to remain as Shareholders after the Cancellation has taken place with an opportunity to realise their investment in the Company by accepting the Tender Offer pursuant to which the Company will, conditionally, offer to purchase up to 2,974,139 Ordinary Shares at the Tender Price of 42.5 pence per Ordinary Share, being the closing mid-market price per Ordinary Share on 5 April 2019 (being the last practicable date prior to this announcement).

Cancellation and the Tender Offer are conditional, among others, upon all of the Resolutions being passed at the General Meeting to be held at 10.00 a.m. on 1 May 2019.

In conjunction with this announcement, a circular will shortly be posted to Shareholders (the “Circular”) setting out the reasons for, and implications of, the Cancellation and providing further details on each of the Cancellation and the Tender Offer as well as an update on current trading.  A notice convening the General Meeting is set out at the end of the Circular. The Circular will be made available on the Company’s website at www.safeland.co.uk.

Cancellation is conditional, pursuant to Rule 41 of the AIM Rules, upon the approval of not less than 75 per cent. of the votes cast by Shareholders (whether present in person or by proxy) at the General Meeting.

In accordance with Rule 41 of the AIM Rules, the Company has notified the London Stock Exchange of the date of Cancellation.

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