Business
Statement Regarding Recent Press Speculation
Statement Regarding Recent Press Speculation.
About this update from Thg Plc
[{"type":"text","content":"\n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n \n \n THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n 19 May 2022\n \n \n \n THG plc\n \n \n \n (\"THG\" or the \"Company\")\n \n \n \n Statement regarding recent press speculation\n \n \n \n The Board of THG notes the recent press speculation and confirms that it received a third unsolicited, highly preliminary and indicative non-binding proposal of 170 pence per share from Belerion Capital Group Limited (\"Belerion\"), together with King Street Capital Management, L.P. (\"King Street\") (collectively, the \"Belerion Consortium\") to acquire the entire issued and to be issued share capital of THG (the \"Proposal\").\n \n \n The Board of THG considered the Proposal, together with its financial and legal advisers, and concluded that it significantly undervalued the Company and its future prospects, and accordingly unanimously rejected the Proposal.\n \n \n There can be no certainty that any firm offer will be made, nor as to the terms of any such offer. A further announcement will be made if and when appropriate.\n \n \n In accordance with Rule 2.6(a) of the Code, the Belerion Consortium is required, by not later than 5.00 p.m. (London time) on 16 June 2022, to do one of the following: (i) announce a firm intention to make an offer for THG in accordance with Rule 2.7 of the Code; or (ii) announce that it does not intend to make an offer for THG, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.\n \n \n The person responsible for arranging for the release of this announcement on behalf of THG is James Pochin, General Counsel.\n \n \n This announcement has been made without the consent of Belerion or King Street.\n \n \n Enquiries:\n...