RE: Update from Peter Jay16 Mar 2022 12:49
On 16 Mar 2022, at 11:33, Neil wrote:
>
> Hi Peter,
> I'm a current shareholder and am very much hoping to hear some positive news before the 31st March. I wonder if you could tell me what the likelihood is of the deal completing before this date, and were it not to whether the long stop date could be pushed further back?
> Many thanks
> Neil Addison
On Wed, Mar 16, 2022 at 11:48 AM Peter Jay wrote:
Hi Neil
Thank you for your email.
It is frustrating for all that the process has taken so long but this has been down to issues at the FCA and not to any problems with the transaction or the parties.
I am pleased to say that we are making good progress but we will not be able to complete before 31 March and we will then have to extend the long stop date, one more time and both parties are happy to do that.
Kind regards
Peter
On 16 Mar 2022, at 12:09, Neil wrote:
Thank you for the reply Peter. It's frustrating for all of us but I'm glad to hear that both parties remain committed. Are you able to advise when the long stop date would be moved to?
Thanks once again.
Kind regards
Neil
We need time to complete the FCA approval process and it is difficult to estimate how long that will take because they are not a private sector professional firm. I suggest that another 8 weeks would cover their additional scrutiny and then the time for convening the EGM so I think another 6 weeks should be sufficient. I cannot of course guarantee that as you will understand.
Kind regards
Peter