22 Apr 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 OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE MARKET ABUSE REGULATION.
FOR IMMEDIATE RELEASE
22 April 2020
Offer update
The Board of Moss Bros Group plc ("Moss Bros") announces that it has been informed by Brigadier Acquisition Company Limited ("Bidco") that it is seeking a ruling from the Takeover Panel in order to invoke a condition of its offer and lapse its offer for Moss Bros (the "Offer").
The Board notes the requirements of Rule 13.5(a) of the Takeover Code, which states that Bidco may not invoke a condition so as to cause the Offer not to proceed, to lapse or to be withdrawn, or so as to cause the Offer not to proceed, to lapse or be withdrawn, unless the circumstances which give rise to the right to invoke the condition are of material significance to Bidco in the context of the Offer.
The Board confirms that it will take all necessary action to make its case that those requirements have not been met and that the Offer should not therefore be permitted to lapse.
As set out in the Scheme Document posted to shareholders on 8 April with the approval of Bidco, the meetings for Moss Bros shareholders to provide the relevant approvals for the scheme of arrangement are scheduled to be held on 29 April.
Further announcements will be made as appropriate.
The person responsible for arranging release of this announcement on behalf of Moss Bros is Bill Adams, Chief Financial Officer.
Enquiries: | |
Moss Bros | Via Buchanan |
Colin Porter, Chairman | |
Brian Brick, CEO | |
Bill Adams, CFO | |
| |
Peel Hunt LLP (Lead Financial Adviser and Rule 3 Adviser to Moss Bros) | Tel: 020 7418 8900 |
George Sellar | |
Michael Nicholson | |
Rothschild & Co (Joint Financial Adviser to Moss Bros) | Tel: 020 7280 5000 |
John Byrne | |
Andrew Graham | |
Buchanan (Financial PR Adviser to Moss Bros) | Tel: 020 7466 5000 |
Charles Ryland | |
Important notices
Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for Moss Bros and no-one else in connection with the matters set out in this announcement, and will not be responsible to anyone other than Moss Bros for providing the protections afforded to clients of Peel Hunt or for providing advice in connection with the Offer or any matter or arrangement referred to herein.
N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for Moss Bros and for no one else in connection with the Offer and will not be responsible to anyone other than Moss Bros for providing the protections afforded to its clients or for providing advice in connection with the Offer.