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16 Mar 2020 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 OF SUCH JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
16 March 2020
LSL Property Services plc
Statement regarding Countrywide plc ("Countrywide")
On 24 February LSL Property Services plc ("LSL") and Countrywide each confirmed they were in discussions regarding a possible all share combination.
LSL today confirms that it does not intend to make an offer for Countrywide.
This is a statement to which Rule 2.8 of the Code applies.
Under Note 2 on Rule 2.8 of the Code, LSL, and any person acting in concert with LSL, reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances: (i) with the agreement of the board of Countrywide; (ii) if a third party announces a firm intention to make an offer for Countrywide; (iii) if Countrywide 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).
The person responsible for arranging release of this announcement on behalf of LSL is Sapna B Fitzgerald, Company Secretary.
Enquiries:
LSL Property Services plc | +44 (0)207 382 0360 |
Ian Crabb, Group Chief Executive Officer |
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Adam Castleton, Group Chief Financial Officer |
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