RE: Mode RNS30 Sep 2022 22:28
Pursuant to the presumptions of concertedness in the Code, both Liwathon and Linley are presumed to be acting in concert with JRS and Ruskin (all of them together, the "Rowland Concert Party") and as a result of it acquiring the First Tranche Shares, the Rowland Concert Party's aggregate shareholding in the Company increased from 32.99% to 33.67% which, absent any dispensation or waiver granted by the Panel, would require the Rowland Concert Party to make a mandatory offer for the Company pursuant to rule 9.1(b) of the Code ("Mandatory Offer").
Through a series of share trades carried out by Linley's stockbroker on its behalf in the market between 12 August and 13 September 2022, Linley sold all of the Conversion Shares. The aggregate interest in the Company's shares held by the Rowland Concert Party therefore remains at 32.99%.
No takeover yet!