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DISCLOSURE UNDER RULE 2.10 (C) OF THE TAKEOVER ...
DISCLOSURE UNDER RULE 2.10 (C) OF THE TAKEOVER ....
About this update from Paypoint Plc
[{"type":"text","content":"\n \n \n DISCLOSURE UNDER RULE 2.10 (C) OF THE TAKEOVER CODE\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 OF SUCH JURISDICTION\n \n \n FOR IMMEDIATE RELEASE\n \n \n 11 NOVEMBER 2022\n \n \n RECOMMENDED OFFER\n \n \n FOR\n \n \n APPRECIATE GROUP PLC \n ( \"\n APPRECIATE GROUP\" )\n \n \n BY\n \n \n PAYPOINT PLC \n ( \"\n PAYPOINT\" )\n \n \n to be implemented by means of a Court-sanctioned scheme of arrangement\n \n \n under Part 26 of the Companies Act 2006\n \n \n DISCLOSURE UNDER RULE 2.10(C) OF THE TAKEOVER CODE\n \n \n Update on the non-binding Letter of Intent given by \n The Ramsey Partnership Fund \n Limited\n \n On 7 November 2022, the boards of directors of PayPoint and Appreciate Group announced that they had reached agreement on the terms of a recommended offer pursuant to which PayPoint will acquire the entire issued and to be issued share capital of Appreciate Group (the \"Acquisition\") to be effected by means of a Court-sanctioned scheme of arrangement between Appreciate Group and relevant Appreciate Group Shareholders under Part 26 of the Companies Act 2006 (the \"Scheme\") (the “Rule 2.7 Announcement”).\n Capitalised terms used in this announcement, unless otherwise defined, shall have the meanings given to them in the Rule 2.7 Announcement.\n As set out in the Rule 2.7 Announcement, PayPoint had received certain non-binding letters of intent to vote in favour of the Scheme at the Court Meeting and in favour of the Resolution to be proposed at the General Meeting.\n The non-binding letter of intent given by The Ramsey Partnership Limited (\"Ramsey\") related to 7,486,300 Appreciate Group Shares, representing approximately 4.02 per cent. of the issued share capital of Appreciate Group as at the Latest Practicable Date.\n On 10 November 2022, Paypoint was advised by Ramsey that it had since disposed of its entire holding of Appreciate Group Shares and were no longer in a position to vote in favour of the Scheme at the Court Meeting and in favour of the Resolution to be proposed at the General Meeting in relation to those Appreciate Group Shares.\n As a result, with effect from such disposal, the non-binding letter of intent given to PayPoint by Ramsey has ce...