Business
Offer closed and compulsory acquisition
Offer closed and compulsory acquisition.
About this update from Franchise Brands 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 SUCH JURISDICTION\n \n \n \n \n \n \n Franchise Brands\n plc\n \n \n \n \n \n \n \n \n Recommended All Share Offer\n \n \n for\n \n \n Filta Group Holdings plc\n (\"Filta\")\n \n \n by\n \n \n Franchise Brands\n plc\n (\"Franchise Brands\")\n \n \n \n \n \n Offer closed and compulsory acquisition of Filta shares\n \n \n \n \n \n On 16 February 2022, Franchise Brands announced a recommended all share offer for Filta (the \"Offer\"), which became wholly unconditional on 10 March 2022. The full terms of, and conditions to, the Offer and the procedures for acceptance were set out in the offer document dated 18 February 2022 (the \"Offer Document\"). Terms used but not defined in this announcement have the same meaning as set out in the Offer Document.\n \n \n \n \n \n \n The Offer is no longer open for further acceptances and is now closed\n \n \n \n \n \n \n The Offer was open for acceptance until 6 May 2022. The Offer has now closed and is no longer capable of being accepted.\n \n \n \n \n \n \n Acceptance levels\n \n \n \n \n \n \n \n \n Franchise Brands announces that, as at 3.05 p.m. on 6 May 2022, valid acceptances of the Offer had been received in respect of 29,101,263 Filta Shares, representing 99.65 per cent. of the issued share capital of Filta, to which the Offer relates.\n \n \n \n \n \n \n \n \n \n Compulsory acquisition\n \n \n \n \n \n \n As Franchise Brands has received acceptances under the Offer in respect of over 90 per cent. in value of the Filta Shares to which the Offer relates (as defined in the Companies Act) and more than 90 per cent. of the voting rights carried by those shares and the Offer is wholly unconditional, Franchise Brands is exercising its rights in accordance with sections 974 to 991 of the Companies Act to acquire compulsorily the remaining Filta Shares on the same terms as the Offer. Relevant documents were sent to all non-assenting Filta Shareholders. Filta Shareholders who have not accepted the Offer will have their Filta Shares compulsorily acquired and will need to apply ...