REG - Alfa Financial Soft - Response to Speculation

Alfa Financial Software HoldingsAnnouncement

27/09/2023 11:00

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RNS Number : 8572N  Alfa Financial Software Hldgs PLC  27 September 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND
MERGERS (THE "CODE") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN
OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT AN OFFER WILL
BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

27 September 2023

 

Alfa Financial Software Holdings PLC ("Alfa")

Response to speculation

The Board of Alfa notes the recent press speculation concerning the
possibility of an offer being made for the entire issued and to be issued
share capital of Alfa.

The Board of Alfa confirms that it is in preliminary discussions with Thomas
H. Lee Partners, L.P. ("THL") regarding a possible offer for Alfa.

There can be no certainty that a firm offer will be made for Alfa.

In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers
("Code"), THL is required, by not later than 5:00 p.m. (London time) on 25
October 2023, being 28 days after today's date, to either announce a firm
intention to make an offer for Alfa in accordance with Rule 2.7 of the Code,
or announce that it does not intend to make an offer for Alfa, in which case
the announcement will be treated as a statement to which Rule 2.8 of the Code
applies. This deadline can be extended with the consent of the Panel on
Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.

A further announcement will be made as and when appropriate.

The person responsible for arranging the release of this announcement on
behalf of Alfa is Duncan Magrath, Chief Financial Officer.

Enquiries:

Alfa
 
           + 44 (0) 20 7588 1800

Andrew Denton, Chief Executive Officer

Duncan Magrath, Chief Financial Officer

 

Barclays Bank PLC, acting through its Investment Bank
                    + 44 (0) 20 7623 2323

(Financial Adviser and Joint Corporate Broker)

Jessel Sheth

Callum West

Rob Mayhew (Corporate Broking)

 

 

 

Important notices

 

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or solicitation of any offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities or the
solicitation of any vote or approval in any jurisdiction, whether pursuant to
this announcement or otherwise.

 

The release, distribution or publication of this announcement in jurisdictions
outside the United Kingdom may be restricted by laws of the relevant
jurisdictions and therefore persons into whose possession this announcement
comes should inform themselves about, and observe, any such restrictions. Any
failure to comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction.

 

Barclays Bank PLC, acting through its Investment Bank ("Barclays"), which is
authorised by the Prudential Regulation Authority and regulated in the United
Kingdom by the Financial Conduct Authority and the Prudential Regulation
Authority, is acting exclusively for Alfa and no one else in connection with a
possible offer and will not be responsible to anyone other than Alfa for
providing the protections afforded to clients of Barclays nor for providing
advice in relation to a possible offer or any other matter referred to in this
announcement.

 

In accordance with the Code, normal United Kingdom market practice and Rule
14e-5(b) of the Exchange Act, Barclays and its affiliates will continue to act
as exempt principal trader in Alfa securities on the London Stock Exchange.
These purchases and activities by exempt principal traders which are required
to be made public in the United Kingdom pursuant to the Code will be reported
to a Regulatory Information Service and will be available on the London Stock
Exchange website at www.londonstockexchange.com. This information will also be
publicly disclosed in the United States to the extent that such information is
made public in the United Kingdom.

 

Disclosure requirements of the Code

 

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of
any class of relevant securities of an offeree company or of any securities
exchange offeror (being any offeror other than an offeror in respect of which
it has been announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement of the
offer period and, if later, following the announcement in which any securities
exchange offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in, and rights
to subscribe for, any relevant securities of each of (i) the offeree company
and (ii) any securities exchange offeror(s). An Opening Position Disclosure by
a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm
(London time) on the 10th business day following the commencement of the offer
period and, if appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any securities exchange
offeror is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead make a
Dealing Disclosure.

 

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1%
or more of any class of relevant securities of the offeree company or of any
securities exchange offeror must make a Dealing Disclosure if the person deals
in any relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the dealing
concerned and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and
(ii) any securities exchange offeror(s), save to the extent that these details
have previously been disclosed under Rule 8. A Dealing Disclosure by a person
to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London
time) on the business day following the date of the relevant dealing.

 

If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire or control an interest in relevant
securities of an offeree company or a securities exchange offeror, they will
be deemed to be a single person for the purpose of Rule 8.3.

 

Opening Position Disclosures must also be made by the offeree company and by
any offeror and Dealing Disclosures must also be made by the offeree company,
by any offeror and by any persons acting in concert with any of them (see
Rules 8.1, 8.2 and 8.4).

 

Details of the offeree and offeror companies in respect of whose relevant
securities Opening Position Disclosures and Dealing Disclosures must be made
can be found in the Disclosure Table on the Takeover Panel's website at
www.thetakeoverpanel.org.uk, including details of the number of relevant
securities in issue, when the offer period commenced and when any offeror was
first identified. You should contact the Panel's Market Surveillance Unit on
+44 (0)20 7638 0129 if you are in any doubt as to whether you are required to
make an Opening Position Disclosure or a Dealing Disclosure.

 

Relevant Securities in Issue

 

In accordance with Rule 2.9 of the Code, Alfa confirms that, as at the date of
this announcement, it has 295,224,881 ordinary shares of £0.01 each in issue
and admitted to trading on the London Stock Exchange. 4,775,119 shares are
held in treasury. The ISIN is GB00BDHXPG30.

 

Website Publication

 

In accordance with Rule 26.1 of the Code, a copy of this announcement will be
available at www.alfasystems.com, by no later than 12 noon (London time) on
the business day following this announcement. The content of the website
referred to in this announcement is not incorporated into and does not form
part of this announcement.

 

Please be aware that addresses, electronic addresses and certain other
information provided by Alfa shareholders, persons with information rights and
other relevant persons for the receipt of communications from Alfa may be
provided to THL during the offer period as required under Section 4 of
Appendix 4 of the Code to comply with Rule 2.11.

 

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