15 Jan 2020 12:03
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
15 January 2020
Statement regarding Clipper Logistics plc
Further to the announcements made on 20 November 2019 and 18 December 2019 by Clipper Logistics plc ("Clipper") in relation to a possible offer by Sun European Partners, LLP on behalf of Sun Capital Partners Group VII, LLC ("Sun Capital") for the entire issued and to be issued share capital of Clipper, Sun Capital announces that it does not intend to make an offer for Clipper and is consequently, except with the consent of the Panel on Takeovers and Mergers, bound by the restrictions under Rule 2.8 of the Code save in the circumstances set out below.
Under Note 2 on Rule 2.8 of the Code, Sun Capital, and any person acting in concert with Sun Capital, reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Clipper or to take any other action which would otherwise be restricted under Rule 2.8 of the Code within six months following the date of this announcement in the following circumstances: (a) with the agreement or consent of the board of Clipper; (b) if any third party announces a firm intention to make an offer for Clipper; (c) if Clipper announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or (d) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).
Sun Capital, and any person acting in concert with Sun Capital, reserves the right to acquire and/or offer to acquire Clipper shares or interests in Clipper shares subject to and in accordance with Rule 2.8 of the Code.
Publication on a website
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at https://www.clippergroup.co.uk/investor-news/. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.