REG - Argentex Group PLC - Termination of recommended cash acquisition by IFX

ArgentexAnnouncement

Thu 07:10

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RNS Number : 2981U  Argentex Group PLC  07 August 2025

For immediate release

 

7 August 2025

 

Argentex Group plc

 

("Argentex" or the "Company")

 
 

Termination of recommended cash acquisition by IFX (UK) Limited

 

Further to the announcement by IFX (UK) Limited ("IFX") earlier today, the
Company notes that IFX has received the Panel's consent to invoke condition
3(l)(xii) as set out in the Company's Scheme Document published on 21 May
2025, in accordance Rule 13.5(a) of the Takeover Code.

 

As such, IFX's recommended cash offer for the entire issued and to be issued
share capital of the Company has now lapsed. Accordingly, the Company is no
longer in an 'Offer Period' as defined in the Takeover Code.

 

As previously announced, the Company appointed Special Administrators to
Argentex LLP on 21 July 2025, and Argentex Group plc and Argentex Technologies
Limited were placed into Administration under the Insolvency Act 1986 on 24
July 2025.

 

The Company's shares remain suspended from trading on AIM. As announced on 1
August 2025, if the Company does not appoint a Nominated Adviser by 31 August
2025, the admission of the Company's securities will be cancelled on AIM.

 

Capitalised terms used in this announcement shall, unless otherwise defined,
have the meanings set out in the Company's Scheme Document dated 21 May 2025.

 

For further information, please contact:

 

Argentex Group PLC

investorrelations@argentex.com (mailto:investorrelations@argentex.com)

 

FRP Advisory Trading Limited

Argentex@frpadvisory.com (mailto:Argentex@frpadvisory.com)

 

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