REG - Bellway PLC - Statement regarding Crest Nicholson Holdings plc

BellwayAnnouncement

13/08/2024 12:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240813:nRSM2936Aa&default-theme=true

RNS Number : 2936A  Bellway PLC  13 August 2024

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 THAT JURISDICTION

THIS 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
 

13 August 2024

 

Bellway p.l.c. ("Bellway")

Statement regarding Crest Nicholson Holdings plc ("Crest Nicholson")

 

Further to the previous announcements made by Bellway and Crest Nicholson
regarding a possible offer for Crest Nicholson, Bellway confirms that it does
not intend to make a firm offer for Crest Nicholson.

As noted in its trading update released on 9 August 2024, Bellway remains
confident that its robust balance sheet and operational strength, combined
with the depth and quality of its land bank, will enable Bellway to deliver
volume growth in the years ahead and support ongoing value creation for
shareholders.

This is a statement to which Rule 2.8 of the Code applies.  Accordingly,
Bellway and any person(s) acting in concert with it will, except with the
consent of the Panel on Takeovers and Mergers (the "Takeover Panel"), be bound
by the restrictions set out in Rule 2.8 of the Code.  Under Note 2 of Rule
2.8 of the Code, Bellway, and any person(s) acting in concert with it,
reserves the right to set the restrictions in Rule 2.8 of the Code aside in
the following circumstances:

a)     with the agreement of the Board of Directors of Crest Nicholson;

b)     following the announcement of a firm intention to make an offer for
Crest Nicholson by or on behalf of a third party;

c)     following the announcement by Crest Nicholson of a Rule 9 waiver
proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of
the Code) or a reverse takeover (as defined in the Code); or

d)    where the Takeover Panel has determined that there has been a
material change of circumstances.

The person responsible for arranging the release of this announcement on
behalf of Bellway is Simon Scougall, Chief Commercial Officer and Company
Secretary.

Enquiries:

 Bellway p.l.c.                                                  via Sodali & Co
 Simon Scougall, Chief Commercial Officer and Company Secretary

 Sodali & Co                                                     +44 (0) 20 3984 0125

 Financial communications adviser
 Justin Griffiths

 Victoria Heslop

 Madeleine Gordon-Foxwell

 

Publication on a website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be
available at www.bellwayplc.co.uk/investor-centre
(http://www.bellwayplc.co.uk/investor-centre) . 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STRPJMBTMTTBBMI