Galliford Try PLC Statement re media speculation (2106A)
May 28 2019 - 1:01AM
UK Regulatory
TIDMGFRD TIDMBVS
RNS Number : 2106A
Galliford Try PLC
28 May 2019
28 May 2019
Galliford Try plc
Statement regarding media speculation
The Board of Galliford Try plc ("Galliford Try" or the "Board")
notes the recent media speculation and confirms that it received a
preliminary proposal from Bovis Homes Group PLC ("Bovis Homes") to
acquire Galliford Try's Linden Homes and Partnerships &
Regeneration divisions in exchange for new Bovis Homes shares (the
"Bovis Homes Proposal").
The Bovis Homes Proposal envisaged Galliford Try remaining an
independent UK-listed group focussed on construction and Galliford
Try shareholders receiving new Bovis Homes shares pro rata to their
current Galliford Try shareholdings.
The Galliford Try Board carefully considered the Bovis Homes
Proposal together with its financial adviser, Rothschild & Co.
The Board rejected the Bovis Homes Proposal as it believes it does
not fully value the Linden Homes and Partnerships &
Regeneration divisions and is not in the interests of all
shareholders.
As set out in the Trading Update on 21 May 2019, the Galliford
Try Board remains confident in the long-term prospects of the
group.
This announcement contains inside information for the purposes
of article 7 of EU Regulation 596/2014. The person responsible for
making this announcement on behalf of Galliford Try is Kevin
Corbett, General Counsel and Company Secretary.
End.
James Macey White, Martin
Tulchan Communications Pengelley, Elizabeth Snow 020 7353 4200
Notes to editors:
1. Galliford Try plc is a leading UK housebuilding, regeneration
and construction group. It is listed on the London Stock Exchange
and a member of the FTSE 250. Housebuilding - through our Linden
Homes business - develops private and affordable homes in prime
locations. Galliford Try Partnerships - our regeneration business -
delivers mixed-tenure solutions working with housing association,
local authority and private sector partners. Operating as Galliford
Try and Morrison Construction, our Construction business carries
out building and infrastructure with clients in the public, private
and regulated sectors. At the end of the last financial year to 30
June 2018, the Group generated revenue of GBP3.1bn.
2. N. M. Rothschild & Sons Limited ("Rothschild & Co"),
which is authorised and regulated by the Financial Conduct
Authority in the United Kingdom, is acting for Galliford Try and no
one else in relation to the matters described in this announcement
and will not be responsible to anyone other than Galliford Try for
providing the protections afforded to clients of Rothschild &
Co nor for providing advice in relation to the matters described in
this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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