Business
Update to post-offer intention statements
Update to post-offer intention statements.
About this update from Vistry Group Plc
[{"type":"text","content":"\n \n \n \n THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(B) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\")\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8 March 2023\n \n \n \n \n \n \n \n \n \n Vistry Group PLC\n \n \n \n \n Rule 19.6(b) update to stated post-offer intention statements with regard to Countryside Partnerships plc (now renamed Countryside Partnerships Limited)\n \n \n \n \n \n \n \n \n Vistry Group plc (\"Vistry\") announces that, further to the completion of its recommended cash and share offer for Countryside Partnerships plc (now Countryside Partnerships Limited) (\"Countryside\" and the \"Combination\", respectively), which was effected by way of scheme of arrangement under Part 26 of the Companies Act 2006, on 11 November 2022, a different course of action has been taken from one of the post-offer statements of intent made by Vistry pursuant to Rules 2.7(c)(viii) and 24.2 of the Code, as set out in its announcement made under Rule 2.7 of the Code on 5 September 2022 as well as in Vistry's circular and prospectus and Countryside's scheme document each dated 7 October 2022 (together, the \"Offer Documents\").\n \n \n This announcement is required under Rule 19.6(b) of the Code.\n \n \n As set out in the Offer Documents, the relevant stated intention provided that, in order to ensure continuity and assist with the preliminary stages of the integration of the Combined Group, Mike Woolliscroft, then Co-interim Chief Executive Officer of the Countryside Group, intended to remain with the Combined Group for an interim period (and that his employment would continue from Completion of the Combination until 31 May 2023).\n \n \n It has subsequently been decided by the board of directors of Vistry that Mr Woolliscroft will remain with the Combined Group in a permanent role in the capacity of Group Business Improvement Director and London Divisional Chair. Mr Woolliscroft will be responsible for the Vistry Group's Countryside Partnerships business in London, reporting to the CEO, Countryside Partnerships and also responsible for business improvement and development objectives reporting to the Chief Operating Officer. Mr Woolliscroft will also join the Combined Group's Executive Leadership Team.\n \n \n Greg Fi...