25 Jun 2018 07:00
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 |