San Leon has announced plans return up to $ 1 m to shareholders by way of a tender offer . The tender price of 46 ##p ( $ 0.60 ) per ordinary share represents a premium of 50 % on the 19 February closing price . Qualifying shareholders also have a basic entitlement to redeem 10 % of their shares and may also tender shares in excess of this amount . The offer runs until 1 pm on 20 March . Completion of the offer is conditional upon shareholder approval being sought at an EGM on 15 March .
San Leon has announced plans return up to $30m to shareholders by way of a tender offer. The tender price of 46 pence ($0.60) per ordinary share represents a premium of 50% on the 19 February closing price. Qualifying shareholders will have a basic entitlement to redeem 10% of their shareholding and may also tender shares in excess of this amount. The offer runs until 1pm on 20 March. Completion of the deal is conditional upon shareholder approval being sought at an EGM on 15 March.