Tungsten Corporation PLC Statement regarding Accel-KKR (4829W)
December 22 2021 - 2:40AM
UK Regulatory
TIDMTUNG
RNS Number : 4829W
Tungsten Corporation PLC
22 December 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF
THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE RELEASE.
22 December 2021
Tungsten Corporation plc ("Tungsten")
Statement of intention not to make an offer pursuant to Rule 2.8
of the City Code on Takeovers and Mergers (the "Takeover Code")
On 14 December 2021, T ungsten announced it was in preliminary
discussions with a number of parties, including Accel-KKR,
regarding a possible offer for Tungsten.
Accel-KKR has confirmed to T ungsten that it has no intention of
making an offer for Tungsten and accordingly discussions with
Accel-KKR have now terminated.
Accel-KKR has consented to the release of this announcement and
is bound by the restrictions under Rule 2.8 of the Code for six
months following the date of this announcement.
Under Note 2 on Rule 2.8 of the Code, Accel-KKR has reserved the
right to set the restrictions in Rule 2.8 aside in the following
circumstances:
a. with the agreement of the Board of Directors of Tungsten;
b. if a third party, announces a firm intention to make an offer for Tungsten;
c. if Tungsten announces a "whitewash" 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 Panel on Takeovers and Mergers).
Enquiries
Tungsten Corporation plc Tel: +44 (0) 20 7280 6980
Paul Cooper, Chief Executive Officer
Canaccord Genuity Limited Tel: +44 (0) 20 7523 8300
Simon Bridges
Andrew Potts
Important notices
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities or the solicitation of any
vote in any jurisdiction whether pursuant to this announcement or
otherwise, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
The release, publication or distribution of this announcement in
whole or in part, directly or indirectly, in, into or from certain
jurisdictions outside the United Kingdom may be restricted by law
and therefore persons into whose possession this announcement comes
should inform themselves about, and observe, such restrictions. Any
failure to comply with the restrictions may constitute a violation
of the securities law of any such jurisdiction.
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END
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