31 May 2023 15:15
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, 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 SUCH JURISDICTION
THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UNITED KINGDOM ("UK") CITY CODE ON TAKEOVERS AND MERGERS (THE "TAKEOVER Code")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN RELATION TO PURPLEBRICKS PLC FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS WHICH FORM PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT OF 2018.
FOR IMMEDIATE RELEASE
31 May 2023
Lecram Holdings Limited (Lecram")
NO INTENTION TO BID STATEMENT
Further to the announcements made by Purplebricks Group plc ("Purplebricks"), on 26 May 2023, that it had received an indicative offer proposal from Lecram to acquire the entire issued and to be issued share capital of Puplebricks, Lecram Holdings Limited today confirms that it has decided not to proceed with its indicative offer proposal and therefore it is not intending to make an offer.
The reason leading to Lecram's decision not to proceed is, principally, that the financial condition of Purplebricks was found to be significantly worse than expected.
This is a statement to which Rule 2.8 of the Takeover Code applies.
The Nisse Consultancy: Jason Nisse Andrew Garfield |
Tel: 07769 688618 Tel: 07974 982337 |
No offer or solicitation:
This announcement is for information purposes only and is not intended to and does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation to purchase, acquire, subscribe for, sell, dispose of or issue any securities in Purplebricks in any jurisdiction.
Overseas jurisdictions:
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to the laws of other jurisdictions should inform themselves of, and observe, any applicable restrictions or requirements. Any failure to comply with these restrictions may constitute a violation of securities laws of any such jurisdictions. To the fullest extent permitted by law, Strike disclaims all and any responsibility or liability for the violation of such restrictions by such person.
No investment recommendation:
This announcement is not intended to be and does not constitute or contain any investment recommendation as defined by Regulation (EU) No 596/2014 (as it forms part of the domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018). No information in this announcement should be construed as recommending or suggesting an investment strategy. Nothing in this announcement or in any related materials is a statement of or indicates or implies any specific or probable value outcome in any particular circumstance.