Business
Publication of Final Offer Document
Publication of Final Offer Document.
About this update from Advancedadvt Ltd.
[{"type":"text","content":"\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n \n \n \n \n \n \n \n \n \n 14 June\n \n \n 2022\n \n \n \n \n \n \n AdvancedAdvT Limited (\"ADV\")\n \n \n \n \n \n Publication of Final Offer Document - Valuation of competing proposals\n \n \n \n \n \n \n \n \n Vin Murria, Chair of ADV, said:\n \n \n \n \n \n \n \"Today we have posted our Final Offer Document. Our all share offer for M&C Saatchi of 209.4 pence per share is notably higher than Next Fifteen Communications' final offer of 198.3 pence per share. \n \n \n \n \n \n \n \n \n \n \"M&C Saatchi shareholders now have the choice to accept our higher offer, benefiting from owning more than 53.7% of an enlarged M&C Saatchi/ADV group, or a smaller 13.5% of an enlarged Next Fifteen Communications business (excluding ADV and myself) providing them with the opportunity to have majority ownership of a well-capitalised and high-performing group.\n \n \n \n \n \n \n \n \n \n \"We have significant cash and an advanced pipeline of accretive acquisitions for M&C Saatchi. Our Final Offer has greater potential to deliver shareholders and employees faster growth and significant value creation.\n \n \n \n \n \n \n \n \n \n \"As previously stated, Next Fifteen Communications is a credible buyer of M&C Saatchi. However, we believe our proposition offers a greater number of compelling benefits for M&C Saatchi shareholders, in which we hold a 22.3% stake.\" \n \n \n \n \n \n \n Valuation of competing proposals for M&C Saatchi plc (\"M&C Saatchi\")\n \n As at 13 June 2022, ADV's final All Share Offer was equivalent to 209.4 pence per M&C Saatchi Share (using ADV's then share price) or 243.9 pence per M&C Saatchi Share (using ADV's net asset value per share); see the appendix below.\n As at 13 June 2022, Next Fifteen Communications Group plc's (\"NFC\") offer value was equivalent to 198.3 pence per M&C Saatchi Share (using NFC's then share price). Since NFC's firm offer announcement on 20 May 2022, the price of a NFC Share has fallen by 23.6 per cent, from 1,266 pence to 967 pence on 13 June 2022.\n Under the terms of ADV's Final O...