Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksINTU.L Regulatory News (INTU)

  • There is currently no data for INTU

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Statement re Possible Offer

31 Oct 2018 07:00

RNS Number : 7760F
Intu Properties PLC
31 October 2018
 

 

LEI: 213800JSNTERD5CJZO95

 

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 THAT JURISDICTION.

THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE TAKEOVER CODE (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

FOR IMMEDIATE RELEASE

 

31 October 2018

 

intu properties plc ("intu" or the "Company")

 

EXTENSION TO DEADLINE UNDER RULE 2.6(C) OF THE CODE

On 4 October 2018 a consortium comprising the Peel Group, the Olayan Group and Brookfield Property Group (together the "Consortium") announced that they were in the preliminary stages of considering a possible cash offer for the Company. 

In accordance with Rule 2.6(a) of the Code, the Consortium is required, by not later than 5.00 p.m. on 1 November 2018, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers (the "Panel") in accordance with Rule 2.6(c) of the Code.

In response to a request from the Consortium to extend the above deadline to enable continued discussions, the Board of intu requested that the Panel extend the deadline referred to above with respect to the Consortium, in accordance with Rule 2.6(c) of the Code. Accordingly, an extension has been granted by the Panel and the Consortium must, by no later than 5.00 p.m. on 15 November 2018, either announce a firm intention to make an offer for intu in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel.

A further announcement will be made when appropriate. There can be no certainty that any offer will be made for the Company, nor as to the terms on which any offer might be made.

 

Enquiries

intu

Susan Marsden, Group Company Secretary

 

+44 (0)20 7887 7073

Rothschild & Co (Financial Adviser to intu)

Alex Midgen

Sam Green

 

+44 (0)20 7280 5000

BofA Merrill Lynch (Financial Adviser and Corporate Broker to intu)

Simon Mackenzie Smith

Ed Peel

 

+44 (0)207 628 1000

UBS (Financial Adviser and Corporate Broker to intu)

Hew Glyn-Davies

Thomas Raynsford

 

+44 (0)20 7568 0000

Powerscourt (PR adviser to intu)

Victoria Palmer-Moore

Justin Griffiths

+44 (0)20 7250 1446

Notice related to financial advisers

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for intu and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than intu for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

BofA Merrill Lynch, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting exclusively for intu and no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than intu for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

UBS Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting as corporate broker and financial adviser to intu and no one else in connection with the Offer. In connection with such matters, UBS Limited, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any other person for providing the protections afforded to their clients or for providing advice in relation to the Offer, the contents of this Announcement or any other matter referred to herein.

Rule 26.1 disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at www.intugroup.co.uk by no later than 12 noon (London time) on 1 November 2018. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

Regulated Information Classification: Inside Information

This announcement is the responsibility of Susan Marsden, Group Company Secretary

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
OFDBRBDGGDXBGIG
Date   Source Headline
1st Jul 20209:45 amRNSHolding(s) in Company
30th Jun 202012:00 pmRNSIntu (Jersey) 2 Ltd Guaranteed Convertible Bonds
29th Jun 20204:20 pmRNSHolding(s) in Company
29th Jun 20204:20 pmRNSHolding(s) in Company
26th Jun 20205:58 pmRNSIntu Properties
26th Jun 20201:43 pmRNSAppointment of administrator and share suspension
26th Jun 202012:02 pmRNSPrice Monitoring Extension
26th Jun 202011:30 amRNSHolding(s) in Company
26th Jun 20207:00 amRNSUpdate on Creditor Discussions
23rd Jun 20207:00 amRNSUpdate on Creditor Discussions
19th Jun 20204:40 pmRNSSecond Price Monitoring Extn
19th Jun 20204:36 pmRNSPrice Monitoring Extension
15th Jun 202011:00 amRNSHolding(s) in Company
12th Jun 20204:41 pmRNSSecond Price Monitoring Extn
12th Jun 20204:36 pmRNSPrice Monitoring Extension
8th Jun 202011:45 amRNSHolding(s) in Company
8th Jun 202011:45 amRNSHolding(s) in Company
2nd Jun 20207:00 amRNSBond and debt structures cash flow information
1st Jun 20203:45 pmRNSResult of AGM
18th May 20204:36 pmRNSPrice Monitoring Extension
18th May 20207:00 amRNSUpdate on Lender discussions
13th May 202012:02 pmRNSPrice Monitoring Extension
13th May 20207:00 amRNSCompletion of Disposal of Intu Puerto Venecia
11th May 20204:40 pmRNSSecond Price Monitoring Extn
11th May 20204:35 pmRNSPrice Monitoring Extension
11th May 20201:00 pmRNSHolding(s) in Company
7th May 20202:00 pmRNSNotice of AGM
6th May 20204:40 pmRNSSecond Price Monitoring Extn
6th May 20204:35 pmRNSPrice Monitoring Extension
1st May 20201:30 pmRNSHolding(s) in Company
1st May 20207:00 amRNSAppointment of Non-Executive Director
1st May 20207:00 amRNSManagement Changes and Market Update
30th Apr 20204:41 pmRNSSecond Price Monitoring Extn
30th Apr 20204:36 pmRNSPrice Monitoring Extension
30th Apr 20204:00 pmRNSDirector/PDMR Shareholding
28th Apr 202012:03 pmRNSPrice Monitoring Extension
24th Apr 202012:07 pmRNSSecond Price Monitoring Extn
24th Apr 202012:02 pmRNSPrice Monitoring Extension
17th Apr 20202:30 pmRNSDirector/PDMR Shareholding
17th Apr 20202:15 pmRNSHolding(s) in Company
15th Apr 202012:02 pmRNSPrice Monitoring Extension
14th Apr 20204:41 pmRNSSecond Price Monitoring Extn
14th Apr 20204:36 pmRNSPrice Monitoring Extension
2nd Apr 20204:41 pmRNSSecond Price Monitoring Extn
2nd Apr 20204:36 pmRNSPrice Monitoring Extension
1st Apr 202012:07 pmRNSSecond Price Monitoring Extn
1st Apr 202012:02 pmRNSPrice Monitoring Extension
30th Mar 202012:07 pmRNSSecond Price Monitoring Extn
30th Mar 202012:02 pmRNSPrice Monitoring Extension
26th Mar 20204:41 pmRNSSecond Price Monitoring Extn

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.