REG - Globe Invest Limited - Offer Closure

Best Of The BestAnnouncement

31/08/2023 08:15

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RNS Number : 8619K  Globe Invest Limited  31 August 2023

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

FOR IMMEDIATE RELEASE

31 August 2023

RECOMMENDED FINAL MANDATORY CASH OFFER

for

Best of the Best plc

by

Globe Invest Limited

 

OFFER CLOSURE

 

On 20 June 2023, Globe Invest Limited ("GIL"), the Cyprus registered and
headquartered single-family office and investment holding company of Mr. Teddy
Sagi, announced that it had reached agreement with Best of the Best plc
("BOTB") on the terms of a recommended cash offer to be made by GIL to acquire
all of the  issued and to be issued shares in the capital of BOTB ("BOTB
Shares") not already owned by GIL (the "Offer"), to be implemented by way of a
takeover offer within the meaning of Part 28 of the Companies Act. Under the
terms of the Offer, the shareholders of BOTB (the "BOTB Shareholders") are
entitled to receive 535 pence in cash for each BOTB Share (the "Offer Price").

 

The Offer Document (the "Offer Document") containing the full terms of the
Offer was published and posted to the shareholders of BOTB (the "BOTB
Shareholders") on 14 July 2023.

 

The final closing date for the Offer (being 1.00 p.m. (London time) on 30
August 2023 (the "Final Closing Date") has now passed. As such, the Offer is
now closed for acceptances.

 

BOTB's admission to trading on AIM was cancelled with effect from 7.00am on 24
August 2023.

 

As at 1.00 p.m. (London time) on the Final Closing Date, GIL owned or had
received valid acceptances of the Offer in respect of in aggregate 8,329,384
BOTB Shares, representing approximately 98.44 per cent. of the issued ordinary
share capital of BOTB.

 

As announced on 7 August 2023, given that GIL has received acceptances in
respect of over 90 per cent. of the shares to which the Offer related, it
intends to exercise its rights pursuant to the provisions of sections 974 to
991 of the Companies Act 2006, compulsorily to acquire the remaining BOTB
Shares to which the Offer relates. A formal notice exercising these rights
will be dispatched to those BOTB Shareholders who have not yet accepted the
Offer shortly.

Capitalised terms in this announcement (the "Announcement"), unless otherwise
defined, have the same meanings as set out in the Offer Document.

 

 

Further information

Singer Capital Markets Advisory LLP (Financial Adviser to GIL)

 Phil Davies  +44 20 7496 3000
 Asha Chotai

 

 

Important Notice

Singer Capital Markets Advisory LLP ("Singer"), which is authorised and
regulated by the Financial Conduct Authority in the United Kingdom, is acting
exclusively for GIL and no one else in connection with the matters referred to
in this Announcement and will not regard any other person (whether or not a
recipient of this Announcement) as a client in relation to the matters
referred to in this Announcement and is not, and will not be, responsible to
anyone other than GIL for providing the protections afforded to its clients or
for providing advice in relation to the contents of this Announcement or any
transaction or arrangement referred to in connection with this Announcement.
Neither Singer nor any of its group undertakings or affiliates owes or accepts
any duty, liability or responsibility whatsoever (whether direct or indirect,
whether in contract, tort, under statute or otherwise) to any person who is
not a client of Singer in connection with this Announcement or any matter
referred to herein.

 

 

 

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