Business
Extension to PUSU deadline
Extension to PUSU deadline.
About this update from Firstgroup Plc
[{"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 THAT JURISDICTION\n \n \n \n \n THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n 21 July 2022\n \n \n \n FirstGroup plc\n \n \n \n \n Extension to PUSU deadline\n \n \n \n On 23 June 2022, the Board of FirstGroup plc (\"FirstGroup\" or the \"Company\") announced that it was continuing discussions with I Squared Capital Advisors (UK) LLP (\"I Squared\") in relation to a possible offer for the entire issued, and to be issued, share capital of the Company.\n \n \n In accordance with Rule 2.6(a) of the Code, I Squared was required, by not later than 5.00 p.m. on 21 July 2022 (the \"PUSU Deadline\"), to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.\n \n \n These discussions are ongoing and in order to allow them to continue to progress, the Board of FirstGroup has requested that the Panel on Takeovers and Mergers (the \"Panel\") further extend the PUSU Deadline in accordance with Rule 2.6(c) of the Code.\n \n \n In light of this request, a further extension has been granted by the Panel and in accordance with Rule 2.6(a) of the Code, I Squared is required, by not later than 5.00 p.m. on 18 August 2022, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for the Company, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.\n \n \n \n Important Code notes\n \n \n \n There can be no certainty either that an...