Marston's PLC Transaction Update (9141T)
July 23 2020 - 6:00AM
UK Regulatory
TIDMMARS
RNS Number : 9141T
Marston's PLC
23 July 2020
FOR IMMEDIATE RELEASE
MARSTON'S PLC
Transaction Update
23 July 2020
As previously announced, Marston's PLC ("the Group") anticipated
completion of the proposed arrangements with Carlsberg UK Holdings
Limited ("the Transaction"), as described in the circular to
shareholders dated 8 June 2020, to occur in Q3 of this calendar
year, following shareholder approval and competition authority
clearance.
We have been advised that for procedural reasons, the UK CMA
(rather than the European Commission) will now likely be the
relevant competition authority. As a result, completion is now
anticipated to take place slightly later than expected as the CMA
completes its review. Completion is now expected in Q4.
As stated previously, we do not expect that the Transaction
raises any competition concerns and are satisfied that the Group
has sufficient liquidity in place to meet its requirements ahead of
completion.
Enquiries
Marston's PLC
Ralph Findlay, Chief Executive Officer
Andrew Andrea, Chief Financial and Corporate Development
Officer
Tel: 01902 329516
J.P. Morgan Cazenove (Financial Adviser, Sponsor and Joint
Corporate Broker to the Company)
James Mitford/Anastasia Volnova/Jonty Edwards
Tel: 020 7742 4000
Numis (Joint Corporate Broker to the Company)
Jonathan Wilcox/Alasdair Abram
Tel: 020 7260 1000
Instinctif Partners
Justine Warren/Matthew Smallwood
Tel: 020 7457 2010/2005
Cautionary statement
This announcement is not intended to, and does not constitute,
or form part of, any offer to sell or an invitation to purchase or
subscribe for any securities or a solicitation of any vote or
approval in any jurisdiction. The information contained in this
announcement is not for release, publication or distribution to
persons in any jurisdiction where to do so might constitute a
violation of local securities laws or regulations.
Important Information relating to financial advisers
J.P. Morgan Securities plc (which conducts its U.K. investment
banking activities as J.P. Morgan Cazenove) ("J.P. Morgan
Cazenove"), which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority in the United Kingdom, is acting
exclusively as sponsor and financial adviser to Marston's plc and
for no one else in connection with the Transaction and will not be
responsible to anyone other than Marston's PLC for providing the
protections afforded to clients of J.P. Morgan Cazenove or for
providing advice in relation to the Transaction, the contents of
this announcement or any transaction, arrangement or other matter
referred to 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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