Last checked at 23 Jul 2018 07:00
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.
ANNOUNCEMENT UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
FOR IMMEDIATE RELEASE
21 July 2018
Statement from Prime Opportunities Investment Group, LLC ("Prime Opportunities")
No intention to make an offer for IWG plc ("IWG")
Further to the announcement by Prime Opportunities on 29 May 2018, Prime Opportunities announces that it does not intend to make an offer for the entire issued and to be issued share capital of IWG pursuant to Rule 2.7 of the Code.
As a result of this announcement, Prime Opportunities and any person acting in concert with it, is bound by the restrictions contained in Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, Prime Opportunities, and any person acting in concert with it, reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances: (i) with the agreement of the board of IWG; (ii) following the announcement of a firm intention to make an offer for IWG by a third party; (iii) if IWG announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and (iv) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).
-ENDS-
Enquiries: | |||
Prime Opportunities | Tel: +1 (310) 295 2212 | ||
Pouya David Yadegar | |||
Mariana Dawson | |||
Numis Securities (Financial Adviser to Prime Opportunities) | Tel: + 44 (0) 20 7260 1000 | ||
Stuart Ord | |||
Freddie Naylor-Leyland | |||
About Prime Opportunities Investment Group, LLC.
Prime Opportunities is an investment group based in Los Angeles, California with a prominent real estate family office background specializing in the purchase and development of multifamily and retail real estate assets in high-end areas of Los Angeles County such as Beverly Hills and Brentwood. The family office invests with a long-term perspective and has accumulated prized real estate assets over the past 40 years.
Notice related to financial adviser
Numis Securities Limited ("Numis"), which is authorised and regulated by the Financial Conduct Authority, is acting exclusively for Prime Opportunities as financial adviser in relation to the matters described in this announcement. Numis will not be responsible to anyone other than Prime Opportunities for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement or the matters referred to herein.
Important notices
The release, publication or distribution of this announcement in whole or in part in, into or from certain jurisdictions may be restricted by law and therefore any person in such jurisdictions who comes into possession of this announcement should inform themselves about, and comply with, such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities laws or regulations of any such relevant jurisdiction.
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