StockMarketWire.com - The Board of Vp intends to purchase up to 1 in every 14 Ordinary Shares by way of a Tender Offer at 254 pence per Ordinary Share.

Today Vp has posted a circular to shareholders in relation to the Tender Offer on the terms set out above.

If the maximum number of 3,088,786 Ordinary Shares is acquired under the Tender Offer, this will result in approximately £7.8 million being paid by Vp to participating shareholders.

The Tender Offer is open to all eligible shareholders on Vp's register at 5pm on 23 March 2012, who may participate by tendering all or a proportion of their holdings of Ordinary Shares at the above price.

No Ordinary Shares will be purchased pursuant to the Tender Offer unless the Special Resolution to be proposed at a General Meeting of Vp to be held on 9 March 2012 is passed. The Tender Offer will be void if less than 1% of the issued ordinary share capital of Vp (excluding treasury shares) in aggregate is tendered.




At 9:08am: [LON:VP.] VP share price was +1.88p at 250.13p



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