12 Feb 2014 13:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM, ANY RESTRICTED JURISDICTIONS OR ANY OTHER 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 CITY CODE ON TAKEOVERS AND MERGERS.
No intention to make an offer for Nakama Group PLC ("Nakama")
On 22 January 2014, in response to a leak, Nakama announced that it was in preliminary discussions with two parties, Talent International Holdings Pty. Limited and The Rethink Group plc ("Rethink"), which may or may not lead to an offer being made for Nakama.
In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the "Code"), Rethink was then required, by not later than 5:00 pm on 19 February 2014, to either announce a firm intention to make an offer for Nakama under Rule 2.7 of the Code or announce that it does not intend to make an offer for Nakama, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.
The preliminary discussions referred to above were at a very early stage and have not progressed since. Accordingly, the board of Rethink has concluded that it does not intend to make an offer for Nakama.
As a result of this announcement, Rethink will, except with the consent of the Takeover Panel, be bound by the restrictions contained in Rule 2.8 of the Code. For the purposes of Rule 2.8 of the Code, Rethink reserves the right to make or participate in an offer for Nakama (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement in the circumstances set out in Note 2 on Rule 2.8 of the Code.
For further information please contact:
Rethink Group plc | |
Steve Wright, CEO | 07836 226902
|
Shore Capital | |
Bidhi Bhoma/Edward Mansfield
| 0207 408 4090 |
Newgate Threadneedle | |
John Coles/Fiona Conroy | 020 7653 9850 |