Business
Transaction Update
Transaction Update.
About this update from Informa Plc
[{"type":"text","content":"\n\nNOT 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 \nFOR IMMEDIATE RELEASE\n \n27 August 2024\n \nRECOMMENDED CASH OFFER\n \nfor\n \nAscential plc (\"Ascential\")\n \nby\n \nInforma PLC (\"Informa\")\n \nto be effected by means of a scheme of arrangement under\nPart 26 of the Companies Act 2006\n \nTransaction Update\n \nOn 24 July 2024, the boards of directors of Ascential and Informa announced that they had reached agreement on the terms of a recommended cash offer to be made by Informa for the entire issued and to be issued share capital of Ascential (the \"Acquisition\"), to be implemented by way of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the \"Scheme\").\nOn 12 August 2024, Ascential published a circular in relation to the Scheme (the \"Scheme Document\"). Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Document.\nAcquisition Financing Syndication\nAs previously disclosed in the Scheme Document, Informa entered into a Term Facility Agreement on 24 July 2024 between, amongst others, Informa and Informa Group Holdings Limited as original borrowers and original guarantors, Morgan Stanley Bank International Limited as mandated lead arranger and Morgan Stanley Bank, N.A. as original lender. The Term Facility Agreement has today been (i) amended pursuant to an amendment letter entered into between Informa Group Holdings Limited and HSBC Bank plc (as agent) (the \"Amendment Letter\"), and (ii) deemed amended via the exercise of clause 2.5 (More Favourable Terms) of the Term Facility Agreement as evidenced by an amendment letter entered into between Informa Group Holdings Limited and HSBC Bank plc (as agent) (the \"More Favourable Terms Amendment Letter\"). Further details of the Term Facility Agreement, including the key terms, availability and maturity of the Term Facility Agreement, are set out in the Scheme Document.\nInforma announces that on 27 August 2024, Morgan Stanley Bank, N.A. successfully completed the syndication of a majority of its commitments under the Term Facility Agreement (...