REG - Crest Nicholson Hdgs Bellway PLC - Statement re Possible Offer

BellwayAnnouncement

13/08/2024 12:45

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RNS Number : 2966A  Crest Nicholson Holdings PLC  13 August 2024

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

For immediate
release
 

 13 August 2024

 

Crest Nicholson Holdings plc ("Crest Nicholson")

Statement regarding Possible Offer

 

The Board of Crest Nicholson Holdings plc ("Crest Nicholson") notes the recent
announcement by Bellway p.l.c. ("Bellway") confirming that it does not intend
to make a firm offer for Crest Nicholson under Rule 2.8 of the Takeover Code.

As previously announced, the Board of Crest Nicholson had engaged with Bellway
in relation to a possible all-share offer for Crest Nicholson in response to a
series of unsolicited proposals from Bellway.

As outlined in its half year results on 13 June 2024 for the period ended 30
April 2024, Crest Nicholson remains confident in its standalone prospects, in
particular given conclusion of the review of provisions for completed
development sites supported by external consultants, its highly attractive
land portfolio and the new leadership of Martyn Clark.

This announcement has been made without the consent of Bellway.

The person responsible for arranging the release of this announcement on
behalf of Crest Nicholson is Penny Thomas, Group Company Secretary.

Enquiries:

 

 Crest Nicholson Holdings plc                         +44 (0) 19 3258 0555
 Bill Floydd (Group Finance Director)

 Jenny Matthews (Head of Investor Relations)

 Teneo                                                +44 (0) 20 7260 2700
 Financial communications adviser to Crest Nicholson
 James Macey White

 Giles Kernick

 

Further information

This announcement is not intended to and does not constitute an offer to sell
or the solicitation of an offer to subscribe for or buy or an invitation to
purchase or subscribe for any securities or the solicitation of any vote in
any jurisdiction.

The release, publication or distribution of this announcement in 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 such restrictions may
constitute a violation of the securities law of any such jurisdiction.

Publication on website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be
available at www.crestnicholson.com/investors promptly and in any event by no
later than 12 noon on the business day following this announcement. The
content of this website is not incorporated into and does not form part of
this announcement.

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