Logistics Development Group PLC on Monday said it plans to return up to £21 million to shareholders through a tender offer at 19 pence per share.
The London-based investment company said it expects to launch the offer ‘in the coming weeks.’
The announcement comes as Logistics Development reported a 4.4% quarter-on-quarter increase in its net asset value per share, which rose to 22.3p at the end of December 2024.
The tender offer price of 19p per share represents around 41% premium to Logistics Development’s Friday closing price of 13.50p. However, it comes at around a 15% discount to the company’s last reported net asset value per share of 22.3p as of December 31.
Shares in Logistics Development were up 8.0% at 14.58 pence in London on Monday afternoon.
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