Business
RECOMMENDED CASH AND SHARE COMBINATION
RECOMMENDED CASH AND SHARE COMBINATION.
About this update from Vistry Group Plc
[{"type":"text","content":"\n \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 \n \n THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE NEW VISTRY SHARES EXCEPT ON THE BASIS OF THE INFORMATION IN THE SCHEME DOCUMENT, THE VISTRY PROSPECTUS AND THE VISTRY CIRCULAR WHICH ARE PROPOSED TO BE PUBLISHED IN DUE COURSE\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n \n 5 September 2022\n \n \n \n \n \n \n \n \n \n RECOMMENDED CASH AND SHARE COMBINATION\n \n \n \n \n of\n \n \n \n \n Vistry Group PLC (\"Vistry\")\n \n \n \n \n and\n \n \n \n \n Countryside Partnerships PLC (\"Countryside\")\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 Summary\n \n \n \n \n \n \n · \n \n \n \n \n The board of directors of each of Vistry and Countryside are pleased to announce that they have reached agreement on the terms of a recommended cash and share combination pursuant to which Vistry will acquire the entire issued and to be issued ordinary share capital of Countryside (the \"Combination\"). The Combination is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.\n \n \n \n \n \n \n · \n \n \n \n \n Under the terms of the Combination, Countryside Shareholders shall be entitled to receive:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n for each Countryside Share\n \n \n \n \n \n \n 0.255 of a New Vistry Share\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n and\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 60\n pence in cash\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n · \n \n \n \n \n Based upon Vistry's closing share price of 741 pence as of 2 September 2022 (being the last practicable date prior to this announcement), the Combination represents a total implied value of 249 pence per Countryside Share, valuing the entire issued and to be issued ordinary share capital of Countryside at approxi...