2 Aug 2012 11:31
2012/6
goals Soccer Centres plc ("Goals")
GOLIATh Bidco Limited ("goliath") (a company controlled by Ontario teachers' pension plan board)
patron sports holding sarl ("PATRON")
Following recent representations made by the advisers to Patron, Goliath and Goals, the Panel Executive has been considering the application of Section 4 of Appendix 7 of the Code to the announcement by Patron, on 20 July 2012, confirming that it is still considering its options in respect of Goals.
Goals shareholder meetings to approve the scheme of arrangement for the acquisition of Goals by Goliath are due to be held on 22 August 2012. Following discussions with all parties' advisers, the Panel Executive has ruled that, unless the Panel Executive consents otherwise, Patron must, by 5.00 pm on Monday 13 August 2012, either announce a firm intention to make an offer for Goals under Rule 2.7 of the Code or announce that it does not intend to make an offer for Goals. In the event that Patron announces that it does not intend to make an offer for Goals, Patron and any person(s) acting in concert with it will, except with the consent of the Panel Executive, be bound by the restrictions contained in Rule 2.8 of the Code for six months from the date of such announcement.
Each of the parties has accepted this ruling.
2 August 2012