Gently reminder - RNS Number : 8620Z27 Jul 2024 09:32
1st of August 2024 is nearer……
Geely and the Company have entered into a relationship agreement (the "Relationship Agreement") on similar terms to the relationship agreement the Company currently has in place with the Yew Tree Consortium and certain other significant shareholders. Under the terms of the Relationship Agreement Geely will have the right, subject to holding more than 7% of the Company's voting rights, to appoint a Non-Executive Director to the Aston Martin Board of Directors as a shareholder representative, as well as to appoint a second person as an observer. Geely has also agreed to a standstill until 1 August 2024 under which it will not acquire any Ordinary Shares that would result in its total shareholding in the Company exceeding 22%. The standstill will fall away if an offer from Geely is recommended by the directors of the Company or if any person not acting in concert with Geely announces a firm offer for the Company, whether the offer is recommended by the Company or not.
· The Yew Tree Consortium has undertaken to Geely not to acquire or sell any Ordinary Shares for a period of 90 days from the date of the undertaking. It has also agreed to a standstill until 1 August 2024 under which it will not acquire any Ordinary Shares that would result in the total shareholding in the Company of the Yew Tree Consortium exceeding 25%. The standstill will fall away if an offer from the Yew Tree Consortium is recommended by the directors of the Company or if any person not acting in concert with the Yew Tree Consortium announces a firm offer for the Company, whether the offer is recommended by the Company or not.
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