Last checked at 3 Oct 2023 17:30
THIS IS AN ANNOUNCEMENT TO WHICH RULE 2.8 OF THE TAKEOVER CODE APPLIES. THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO BUY, SELL, ISSUE, ACQUIRE OR SUBSCRIBE FOR, OR THE SOLICITATION OF AN OFFER TO BUY, SELL, ISSUE, ACQUIRE OR SUBSCRIBE FOR, ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN ANY OTHER JURISDICTION.
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FOR IMMEDIATE RELEASE
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03 October 2023
Abicad Holding Limited confirms intentionto acquire additional shares of Breedon Group plc ("Breedon") - No intention to bid statement
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Further to the announcement by Abicad Holding Limited ("Abicad") on 9 March 2023, Abicad announces that it intends to continue to acquire additional ordinary shares of Breedon through market purchases over time.
Abicad currently holds approximately 14.1% of Breedon's total issued share capital. Its current board representative is Amit Bhatia, who is the Non-executive Chairman of Breedon.
As stated in its announcement on 9 March 2023, Abicad intends to hold its shares for investment purposes and confirms that it is not intending to make an offer for Breedon. This is a statement to which Rule 2.8 of the Takeover Code (the "Code") applies.
Rule 2.8 notes
Except with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel"), Abicad is prohibited from announcing an offer or possible offer for Breedon and from taking certain other actions as set out in Rule 2.8 of the Code for a period of six months from the date of this announcement.
Under Note 2 on Rule 2.8 of the Code, Abicad reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances: (a) with the agreement of the Board of Breedon; (b) if a third party announces a firm intention to make an offer for Breedon; (c) if Breedon announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and (d) if there has been a material change of circumstances (as determined by the Takeover Panel).