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Summit Properties proposes tender offer and ordinary shares cancellation

Commercial property investment company Summit Properties Ltd. announced a proposed tender offer to purchase, on a pro rata basis, up to 148,275,862 ordinary shares at €1.45 per share.

The tender offer provides shareholders with an opportunity to partially realize their investment in Summit Properties by accepting the offer.

The company also announced the proposed cancellation of the admission of its ordinary shares to trading on the London Stock Exchange's AIM sub-market.

The tender offer and the cancellation are conditional upon all of the resolutions being passed at the general meeting to be held March 3, 2020, subject to shareholder approval.