UKRD offer for TLRC closes
UKRD's second revised offer to acquire shares in The Local Radio Company has closed. The company is now controlled by UKRD, which owns 64.24 per cent.
Hallwood Financial Limited is now the second largest shareholder, owning 28.55 per cent of the issued share capital of TLRC.
A market announcement today says: "Valid acceptances of the Second Revised Offer have been received in respect of a total of 31,020,629 Local Radio Shares, representing approximately 43.08 per cent. of the existing issued share capital of Local Radio."
UKRD already owned 15,234,456 shares, representing approximately 21.16 per cent. In total it now has 46,255,085 shares in TLRC.