When it was announced the share price was €1.66.
So they announced a price of €1.95 , a premium of 17.5%, to make it worthwhile.
You do not need to make a decision on this until late January and should not do so until then.
If the share price is in excess of €1.95 on the market, you should not opt for the tender as you would be better off selling them in the market.
If the share price is a lot less than €1.95 you should probably apply to sell all your shares.
If I understand it correctly, you will be entitled to sell 37% of your shares automatically. However you can apply to sell 100% of your shares and they will buy more than 37% from you if others do not take up their entitlements.
So let's say on 20th January you have 100 shares and the share price is €1.50
So if you do not offer to sell your shares, the total value of your investment will fall.
"But I think Greencore has a great future and I want to hold onto my shares!"
You should still sell as many shares as you can at €1.95 and then buy them back in the market when they fall to €1.23
What if the price in the market is close to the tender price, say €1.90?
Then it's probably not worth doing. It will cost you about 1.5% to buy back in if that is what you intend doing.
What about Capital Gains Tax?
You will pay Capital Gains Tax on the difference between the proceeds received and the price you paid for them.
If you buy them back again at €1.23, then you will have a new base price for future CGT calculations for the 37% of shares you bought.
The first €1,000 of gains is exempt if you have not already used it.
If you have realised Capital Losses on other shares or other property, you can set those losses against your gains.
Brendan