Business
Further Response to Possible Merger Offer
Further Response to Possible Merger Offer.
About this update from Property Franchise Group Plc
[{"type":"text","content":"\n \nRNS Number : 3286V Property Franchise Group PLC (The) 02 November 2017 \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 THAT JURISDICTION\nTHIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n2 November 2017\nThe Property Franchise Group PLC\n(the \"Company\", \"TPFG\" or the \"Group\") \nFurther Response to Possible Merger Offer \nThe board of directors of the Company (the \"Board\") notes today's further announcement issued by Belvoir Lettings plc (\"Belvoir\") regarding a possible merger offer with the Company (the \"Possible Merger Offer\").\nThe Board maintains its position that the Possible Merger Offer would not be in the best interests of TPFG's shareholders for reasons previously stated.\n \nEnquiries:\nThe Property Franchise Group PLC 01202 292829\nIan Wilson, Chief Executive Officer\nDavid Raggett, Chief Financial Officer\n \nCenkos Securities plc 020 7397 8925\nMax Hartley (Nomad)\n \nDisclosure requirements of the Takeover Code\nUnder Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Positio...