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26 May 2016 16:57
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
26 May 2016
RECOMMENDED CASH OFFER
for
Sweett Group plc ("Sweett")
by
WSP Global Inc. ("WSP")
to be effected by means of a Scheme of Arrangementunder Part 26 of the Companies Act 2006
Update on irrevocable undertakings
Further to its recommended cash offer announcement released on 25 May 2016, WSP announces a revision to the irrevocable undertaking given by Alastair Bloore. The number of Sweet Shares over which Mr Bloore has provided an irrevocable undertaking has increased from 835,817 to 974,179 Sweett Shares representing approximately 1.42 per cent. of Sweett Shares in issue on 25 May 2016 (being the last Business Day prior to the date of this announcement). The additional shares are subject to the same terms under the revised irrevocable undertaking as the original irrevocable undertaking.
As a result, WSP has received irrevocable undertakings to vote in favour of the Scheme at the Court Meeting and in favour of the Resolution to be proposed at the General Meeting, in respect of a total of 19,369,807 Sweett Shares, representing approximately 28.20 per cent. of the share capital of Sweett in issue on 25 May 2016 (being the last Business Day prior to the date of this announcement).
Capitalised terms in this announcement, unless otherwise defined, have the same meanings as set out in WSP's recommended cash offer announcement made on 25 May 2016.
Enquiries: | |
Sweett Group plc | |
Douglas McCormick - Chief Executive Officer Patrick Sinclair - Chief Financial Officer Josephine Guckian - Group Marketing and Communications Director | +44 (0) 20 7061 9000 +44 (0) 20 7061 9000 +44 (0) 20 7061 9000 |
Stockdale Securities Limited (Sweett's Financial Adviser) | |
Tom Griffiths Ed Thomas | +44 (0) 20 7601 6100 +44 (0) 20 7601 6100 |
Camarco | |
Billy Clegg Georgia Mann | +44 (0) 20 3757 4980 +44 (0) 20 3757 4980 |
WSP Global Inc. | |
Pierre Shoiry - Chief Executive Officer Alexandre L'Heureux - Chief Financial Officer and incoming CEO Isabelle Adjahi - Vice President, Investor Relations and Corporate Communications Paul Dollin - Chief Operating Officer
| +1 (514) 340 0046 +1 (514) 340 0046 +1 (514) 340 0046
+44 (0) 20 7314 5000 |
Opus Corporate Finance LLP (WSP's Financial Adviser) | |
Malcolm Strang
| +44 (0) 20 7025 3600 |
Opus, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for WSP and no one else in connection with the Acquisition and the other matters referred to in this announcement and the Scheme Document and will not be responsible to anyone other than WSP for providing the protections afforded to clients of Opus or for providing advice in connection with the Acquisition or any matter or arrangement referred to herein.
Stockdale, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Sweett and no one else in connection with the Acquisition, the other matters referred to in this announcement and the Scheme Document and will not be responsible to anyone other than Sweett for providing the protections afforded to clients of Stockdale or for providing advice in connection with the Acquisition or any matter or arrangement referred to herein.
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