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Further Update Re: Sale of Northern Aerospace

25 Jun 2018 07:00

RNS Number : 3214S
Better Capital PCC Limited
25 June 2018
 

25 June 2018

 

Better Capital PCC Limited 2012 Cell

Further Update Re: Sale of Northern Aerospace Limited

 

Further to the announcement of 19 June 2018; Better Capital PCC Limited (the "Company") has been informed by BECAP12 GP Limited (the "GP") of an update regarding the disposal of Northern Aerospace Limited ("NAL") to Gardner Aerospace Holdings Limited ("Gardner") (the "Disposal").

 

The Initial Enforcement Order ("IEO") issued by the Competition and Markets Authority (the "CMA") in respect of the Disposal prevented the transfer of the NAL shares to Gardner on 22 June 2018, which was the target date for completion.

 

The parties have agreed that if the CMA does not approve the share transfer by 7 July 2018, that the Disposal will be terminated. The GP, NAL and their advisors are continuing to support the investigation by the CMA; however, there is no certainty that a satisfactory outcome will be forthcoming.

 

The Company will make a further announcement in due course.

 

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014.

 

For further information, please contact:

 

Better Capital PCC Limited

Norman Amey (Administrator and Company Secretary)

 

+44 (0)1481 742 742

Numis Securities Limited

Nathan Brown

+44 (0)20 7260 1000

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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