Last checked at 17 Oct 2017 13:41
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
17 October 2017
Update Announcement
The Deltic Group Limited and its holding company Ranimul 1 Limited ("Ranimul" and, together with Deltic Group Limited, "Deltic") notes with interest the announcement by Revolution Bars Group plc ("Revolution") confirming the lapse of Stonegate's offer for Revolution following the shareholder vote at the Revolution court meeting, at which some 53.76% of the Revolution shares that were voted were cast against the scheme.
As Revolution shareholders will be aware, Deltic released an announcement of the terms of its possible merger proposal on 5 October 2017 and a possible revised merger proposal on 9 and 10 October 2017 before being required to release a further announcement on 10 October 2017, which stated that they did not intend to make a cash offer or merger proposal for Revolution due to their Rule 2.6 deadline having been reached. That announcement stated that Deltic was bound by the restrictions in Rule 2.8 of the Code but had reserved the right in certain circumstances to announce an offer or whitewash proposal (such as its Revised Merger Proposal) and take other action which would otherwise be restricted under Rule 2.8 of the Code within the next six months following the date of that announcement. Those restrictions do not apply in circumstances set out in that announcement, including in particular (a) where the board of directors of Revolution so agrees (following the lapse of Stonegate's offer), or (b) a third party announces a firm intention to make an offer for Revolution.
Enquiries
The Deltic Group Limited | 01908 544100 |
Peter Marks, Chief Executive |
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Bob Brannan, Chairman
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Ranimul 1 Limited | 01908 544100 |
Lawrence McGreal
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Stifel Nicolaus Europe Ltd (Financial Advisor to Deltic) | 020 7710 7600 |
Tim Medak |
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Robin Mann |
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Peter Lees |
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Anthony Ledeboer
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Hudson Sandler (Public Relations Advisor to Deltic) | 020 7796 4133 |
Nick Lyon |
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Lucy Wollam |
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IMPORTANT NOTICE
This announcement is not intended to, and does not, constitute, represent or form part of any offer, invitation or solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law or regulation and therefore any person 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.
Stifel, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as financial adviser and broker exclusively for Ranimul and Deltic and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Deltic for providing the protections afforded to clients of Stifel, nor for providing advice in relation to any matter referred to herein.
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at www.delticgroup.co.uk by no later than 12 noon (London time) on 18 October 2017. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.