Business
Offer for M&C Saatchi plc
Offer for M&C Saatchi plc.
About this update from Advancedadvt Ltd.
[{"type":"text","content":"\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \n \n \n \n THIS ANNOUNCEMENT IS NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE NEW ADV SHARES EXCEPT ON THE BASIS OF THE INFORMATION IN THE OFFER DOCUMENT AND THE ADV PROSPECTUS WHICH ARE PROPOSED TO BE PUBLISHED IN DUE COURSE.\n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n17 May 2022\n \n \n OFFER BY ADVANCEDADVT LIMITED FOR M&C SAATCHI PLC\n \n \n Acceleration of digital growth\n \n \n The board of AdvancedAdvT Limited (\"ADV\") announces the terms of an offer to be made by ADV for the issued and to be issued share capital of M&C Saatchi plc (\"M&C Saatchi\") not already owned by ADV (the \"Offer Shares\") (the \"Offer\").\n Commenting on today's announcement, Vin Murria, Chair of ADV, said:\n \n \"Having sought the recommendation of the M&C Saatchi Independent Directors since early January, to date that has not been forthcoming. With today's announcement we are seeking the support of M&C Saatchi Shareholders in addition to those shareholders holding\n 20.2% of the M&C Shares who have already indicated their support. Together, ADV and I already own 22.3% of the M&C Saatchi Shares. \n \n \n \n \n \n We are delighted that Christopher Sweetland, who was Deputy Group Finance Director of WPP Group and Tamara Ingram, who was CEO and Chair of Saatchi and Saatchi UK as well as the global CEO of J Walter Thompson Worldwide and Paul Gibson, who was Chief Operating Officer of Advanced Computer Software, will join the Enlarged Group as non-executive directors.\n \n \n \n \n \n The combination of M&C Saatchi's existing global brand, culture and foundation with ADV's investment capital, experience and proposed new directors provide a tremendous opportunity to accelerate M&C Saatchi's digital growth strategy, organically and by acquisition.\n \n \n \n \n \n The people are the heartbeat of the business. In working alongside them, we believe we will create a business that will benefit employees, clients, and shareholders by capitalising on the growth opp...