Business
Proposed adjournment of Court & General Meetings
Proposed adjournment of Court & General Meetings.
About this update from Segro 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 OF SUCH JURISDICTION\nFor immediate release\n18 October 2024\nTRITAX EUROBOX PLC (\"Tritax EuroBox\")\nProposed adjournment of Court Meeting and General Meeting for the SEGRO Offer\nOn 10 October 2024, the boards of Tritax EuroBox and Titanium Ruth Bidco Limited (a newly formed company indirectly owned by one of Brookfield's real estate private funds) announced that they had reached agreement on the terms of a recommended cash offer whereby the entire issued and to be issued share capital of Tritax EuroBox will be acquired by Bidco (the \"Brookfield Offer\"), intended to be implemented by means of a scheme of arrangement under Part 26 of the Companies Act 2006. The directors of Tritax EuroBox announced that they consider that the terms of the Brookfield Offer represent an attractive premium over the earlier all-share offer by SEGRO for the entire issued and to be issued share capital of Tritax EuroBox, announced on 4 September 2024 (the \"SEGRO Offer\"). The shareholder circular in relation to the SEGRO Offer was published on 26 September 2024 (the \"SEGRO Scheme Document\").\nThe Tritax EuroBox Directors unanimously intend to recommend that Tritax EuroBox Shareholders vote in favour of the resolutions to implement the Brookfield Offer. In light of the Tritax EuroBox Directors' intended recommendation of the Brookfield Offer, the Tritax EuroBox Directors have withdrawn their recommendation of the SEGRO Offer.\nIn light of the Brookfield Offer and their intended recommendation of it, the Tritax EuroBox Directors consider it to be in Tritax EuroBox Shareholders' interests to adjourn the Court Meeting and General Meeting required to implement the SEGRO Offer (the \"SEGRO Meetings\"), which are due to be held on 24 October 2024. It is therefore proposed that the Court Meeting and General Meeting in connection with the SEGRO Offer will be adjourned until further notice, pending any potential developments in relation to the SEGRO Offer. A further announcement will be made in due course once the meetings have been formally adjourned. It is therefore recommended that Tritax EuroBox Shareholders do not attend the SEGRO Meetings scheduled for 24 Oct...