DBAY Advisors Limited Response re possible offer for The MISSION Group
May 15 2024 - 1:00AM
RNS Regulatory News
RNS Number : 4367O
DBAY Advisors Limited
15 May 2024
15 May 2024
DBAY Advisors
Limited
Response re possible
all-share offer for The MISSION Group plc
DBAY Advisors Limited ("DBAY") notes
the announcements dated 13 May 2024 by The MISSION Group plc
("MISSION") and Brave Bison Group plc ("Brave Bison") regarding a
possible all-share offer by Brave Bison for MISSION (the "Possible
Offer"). As at today's date, Logistics Development Group plc
("LDG"), an AIM investing company for which DBAY acts as investment
manager, holds an interest in 9,905,107 ordinary shares of 10 pence
each in the capital of MISSION, representing approximately 10.74
per cent. of MISSION's issued ordinary share capital.
DBAY believes that the indicative
terms of the Possible Offer undervalue MISSION and its prospects.
Whilst DBAY recognises the attraction of cash offers (or full cash
alternatives) at significant premia, especially given the limited
trading volumes in MISSION shares, the all-share offer proposed by
Brave Bison is highly unattractive.
It is DBAY's recommendation to the
board of LDG not to take any action in respect of the Possible
Offer at this time.
This announcement has been made
without the agreement or approval of MISSION or Brave
Bison.
For
enquiries:
DBAY Advisors Limited
|
via Investec Bank
plc
|
Investec Bank plc
Gary Clarence
Harry Hargreaves
|
+44 (0) 20
7597 5970
|
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