Strike Limited No intention to bid statement (0020Z)
May 10 2023 - 10:56AM
UK Regulatory
TIDMPURP
RNS Number : 0020Z
Strike Limited
10 May 2023
Strike Limited
10 May 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE TAKEOVER
CODE (THE "CODE"). THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN
RELATION TO PURPLEBRICKS PLC FOR THE PURPOSES OF THE MARKET ABUSE
REGULATIONS WHICH FORM PART OF UK DOMESTIC LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT OF 2018.
FOR IMMEDIATE RELEASE
No intention to bid statement
Further to the announcements made by Purplebricks Group plc
("Purplebricks") on 15 March 2023 and 12 April 2023, Strike Limited
("Strike") today confirms that it is not intending to make an offer
under Rule 2.7 of the Code for the entire issued, and to be issued,
share capital of Purplebricks.
This is a statement to which Rule 2.8 of the Code applies.
Under Note 2 on Rule 2.8 of the Code, Strike reserves the right
to set the restrictions in Rule 2.8 aside in the following
circumstances:
(a) with the agreement of the board of Purplebricks;
(b) if a third party announces a firm intention to make an offer
for Purplebricks;
(c) if Purplebricks announces a Rule 9 waiver proposal (see Note
1 of the Notes on Dispensations from Rule 9) or a reverse takeover
(as defined in the Code); and
(d) if there has been a material change of circumstances (as
determined by the Takeover Panel).
Strike remains in discussion with the board of Purplebricks
regarding a possible purchase of the business and assets of
Purplebricks (the "Business and Assets Acquisition"). The Business
and Assets Acquisition is a transaction which would normally be
restricted under Rule 2.8(f). Accordingly, the Board of
Purplebricks will need to agree to set the above restrictions aside
for the purpose of the Business and Assets Acquisition. The
Business and Assets Acquisition would also be subject to the
necessary consents of the Purplebricks shareholders, and remains
subject to, inter alia, satisfactory completion of documentation
and due diligence. There can be no certainty that such a
transaction will be concluded.
Purplebricks has granted to Strike a short period of exclusivity
to negotiate the Business and Assets Acquisition (the "Exclusivity
Agreement"). The Exclusivity Agreement does not place any
restrictions preventing Purplebricks from pursuing an offer for its
issued, and to be issued, share capital, and there is no provision
for a break fee or inducement fee.
About Strike Limited
Strike Limited is an online estate agent based in the United
Kingdom. Strike provides property sales, mortgages, and
conveyancing services to customers, and operates throughout the
United Kingdom.
Contacts
Strike Limited +44 ( 0)1273 013432
Via FieldHouse Associates strike@fieldhouseassociates.com
No offer or solicitation:
This announcement is for information purposes only and is not
intended to and does not constitute or form part of any offer or
invitation to purchase, acquire, subscribe for, sell, dispose of or
issue, or any solicitation to purchase, acquire, subscribe for,
sell, dispose of or issue any securities in Purplebricks in any
jurisdiction.
Overseas jurisdictions:
The release, publication or distribution of this announcement in
certain jurisdictions may be restricted by law. Persons who are not
resident in the United Kingdom or who are subject to the laws of
other jurisdictions should inform themselves of, and observe, any
applicable restrictions or requirements. Any failure to comply with
these restrictions may constitute a violation of securities laws of
any such jurisdictions. To the fullest extent permitted by law,
Strike disclaims all and any responsibility or liability for the
violation of such restrictions by such person.
No investment recommendation:
This announcement is not intended to be and does not constitute
or contain any investment recommendation as defined by Regulation
(EU) No 596/2014 (as it forms part of the domestic law in the
United Kingdom by virtue of the European Union (Withdrawal) Act
2018). No information in this announcement should be construed as
recommending or suggesting an investment strategy. Nothing in this
announcement or in any related materials is a statement of or
indicates or implies any specific or probable value outcome in any
particular circumstance.
Availability of announcement:
A copy of this announcement will be available, subject to
certain restrictions relating to persons resident in restricted
jurisdictions, at
https://strike.co.uk/latest-news/purplebricks-announcement no later
than 12 noon (London time) on Thursday, 11 May 2023. The content of
the website referred to in this announcement is not incorporated
into and does not form part of 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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
OUPSFDFISEDSEII
(END) Dow Jones Newswires
May 10, 2023 11:56 ET (15:56 GMT)
Purplebricks (LSE:PURP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Purplebricks (LSE:PURP)
Historical Stock Chart
From Apr 2023 to Apr 2024
