TIDMBERY TIDMTTM

RNS Number : 5243R

Berry Global Group, Inc.

01 July 2020

THIS ANNOUNCEMENT IS BEING MADE PURSUANT TO RULE 19.6(C)(II) OF THE city CODE on takeovers and mergers (THE "code") WHICH, INTER ALIA, REQUIRES A PARTY TO AN OFFER TO MAKE AN ANNOUNCEMENT AT THE END OF A PERIOD OF 12 MONTHS FROM THE DATE ON WHICH THE OFFER PERIOD ENDED CONFIRMING WHETHER IT HAS TAKEN, OR NOT TAKEN, THE COURSE OF ACTION SET OUT IN ITS STATED INTENTIONS.

FOR IMMEDIATE RELEASE

1 July 2020

BERRY GLOBAL INTERNATIONAL HOLDINGS LIMITED

an indirect wholly-owned subsidiary of Berry Global Group, Inc. ("Berry")

Rule 19.6(c) confirmation with respect to post-offer intention statements with regard to RPC Group Plc

Berry Global International Holdings Limited ("Berry Bidco") refers to its recommended cash acquisition of the entire issued and to be issued share capital of RPC Group Plc ("RPC" and the "Acquisition") , which was effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 and which became effective on 1 July 2019.

Berry Bidco announces that, in accordance with the requirements of Rule 19.6(c) of the Code, it has duly confirmed in writing to The Panel on Takeovers and Mergers that it has complied with its post-offer intention statements regarding RPC made pursuant to Rules 2.7(c)(iv) and 24.2 of the Code, as originally detailed in its announcement of 8 March 2019 and in the scheme document published on 26 March 2019 (the "Stated Intentions"), and subsequently updated by Berry Bidco's announcement of changes to its Stated Intentions dated 3 June 2020 (the "Update Announcement") and further related changes explained below.

The Update Announcement explained that, in light particularly of the Covid-19 pandemic which has affected businesses worldwide, certain actions had been taken by Berry to match production capacity with decreased market demand in such unprecedented times, which differed from the Stated Intentions. In addition to those actions, since the date of the Update Announcement, Berry has taken further steps to match production capacity with reduced demand arising from changes in market conditions, including further headcount reductions of approximately 0.5 per cent. across the Combined Group, all of which were carried out in accordance with existing employment rights and in accordance with applicable law.

These measures are being implemented across various Berry businesses, and the variety of steps taken (and to be taken) for different groups of employees reflect the particular circumstances of those employees and the affected businesses. Berry intends that any individuals impacted by these measures will be treated in a manner consistent with Berry's high standards, culture and practices.

Enquiries

 
  Berry Global Group Inc.    +1 812 306 2964 
  Dustin M. Stilwell 
 

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July 01, 2020 02:00 ET (06:00 GMT)