Business
Rule 2.10 Announcement
Rule 2.10 Announcement.
About this update from Land Securities Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5765R\n Land Securities Group PLC\n 08 November 2021\n \n \n \n \n DISCLOSURE UNDER RULE 2.10(C) OF THE TAKEOVER CODE\n \n \n \n \n \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 FOR IMMEDIATE RELEASE\n \n \n \n \n \n 8 November 2021\n \n \n \n \n \n RECOMMENDED CASH ACQUISITION\n \n \n \n \n \n of\n \n \n \n \n \n U AND I GROUP PLC\n \n \n \n \n \n by\n \n \n \n \n \n LS DEVELOPMENT HOLDINGS LIMITED\n \n \n \n \n \n (a newly formed company indirectly owned by Land Securities Group PLC)\n \n \n \n \n \n to be effected by means of a Scheme of Arrangement\nunder Part 26 of the Companies Act 2006\n \n \n \n \n \n \n \n \n Rule 2.10 Announcement\n \n \n \n On 1 November 2021, the boards of U and I Group PLC (\"U+I\"), LS Development Holdings Limited (\"Landsec Development\") and Land Securities Group PLC (\"Landsec\") announced that they had reached an agreement on the terms of a recommended cash offer for the entire issued and to be issued share capital of U+I (the \"Acquisition\").\n \n \n \n \n \n In connection with the Acquisition, Landsec Development received a letter of intent to vote in favour of the resolutions relating to the Acquisition at the Meetings (or in the event that the acquisition is implemented by a Takeover Offer, to accept such Takeover Offer) from Aberforth Partners LLP (\"Aberforth\") in respect of a total of 17,584,704 shares (the \"Letter of Intent\").\n \n \n \n \n \n Aberforth has since informed Landsec that it has disposed of a total of 23,723,357 ordinary shares in U+I, including the 17,584,704 voting shares referred to in the Letter of Intent. In accordance with Rule 2.10(c) of The City Code on Takeovers and Mergers, Aberforth is therefore no longer in a position to vote in relation to these shares.\n \n \n \n \n \n Capitalised terms in this announcement, unless otherwise defined, have the same meaning as set out in the announcement issued under Rule 2.7 of the Code and all references to times in this announcement are to London time unless otherwise stated.\n \n \n &nbs...