Business
Rule 2.7 Announcement - Recommended Cash Offer
Rule 2.7 Announcement - Recommended Cash Offer.
About this update from Jd Sports Fashion Plc
[{"type":"text","content":"\n \nRNS Number : 0977T JD Sports Fashion Plc 18 March 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\nRECOMMENDED CASH OFFER\nfor\nFOOTASYLUM PLC\nby\nJD SPORTS FASHION PLC\nSummary\n· The boards of directors of JD Sports Fashion plc (JD) and Footasylum plc (Footasylum) are pleased to announce that they have reached agreement on the terms of a recommended cash offer for Footasylum by JD, pursuant to which JD will acquire the entire issued and to be issued ordinary share capital of Footasylum (other than the Footasylum Shares which JD already owns) (Offer). It is intended that the Offer will be implemented by means of a takeover offer under the Code and within the meaning given to that term in section 974 of the Companies Act.\n· Under the terms of the Offer, Footasylum Shareholders will receive:\nfor each Footasylum Share 82.5 pence in cash\n· The Offer Price represents a premium of approximately:\n· 77.4 per cent. to the Closing Price of 46.5 pence per Footasylum Share on 15 March 2019 (being the last Business Day prior to the date of this Announcement);\n· 184.5 per cent. to the Closing Price of 29.0 pence per Footasylum Share on 15 February 2019 (being the last Business Day prior to JD's first acquisition of Footasylum Shares);\n· 67.3 per cent. to the volume-weighted average Closing Price of 49.3 pence per Footasylum Share for the three months ended on 15 March 2019 (being the last Business Day prior to the date of this Announcement); and\n· 41.0 per cent. to the volume-weighted average Clos...