REG - Abicad Holding Ltd. Breedon Group PLC - Intention to acquire additional shares of Breedon

BreedonAnnouncement

03/10/2023 17:45

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RNS Number : 5750O  Abicad Holding Limited  03 October 2023

THIS IS AN ANNOUNCEMENT TO WHICH RULE 2.8 OF THE TAKEOVER CODE APPLIES. THIS
ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN
OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL. THIS
ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND THE INFORMATION CONTAINED
HEREIN DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO BUY, SELL, ISSUE,
ACQUIRE OR SUBSCRIBE FOR, OR THE SOLICITATION OF AN OFFER TO BUY, SELL, ISSUE,
ACQUIRE OR SUBSCRIBE FOR, ANY SECURITIES IN THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN OR IN ANY OTHER JURISDICTION.

 

FOR IMMEDIATE RELEASE

 

03 October 2023

Abicad Holding Limited confirms intention

to acquire additional shares
of Breedon Group plc ("Breedon") - No intention to bid statement

 

Further to the announcement by Abicad Holding Limited ("Abicad") on 9 March
2023, Abicad announces that it intends to continue to acquire additional
ordinary shares of Breedon through market purchases over time.

Abicad currently holds approximately 14.1% of Breedon's total issued share
capital. Its current board representative is Amit Bhatia, who is the
Non-executive Chairman of Breedon.

As stated in its announcement on 9 March 2023, Abicad intends to hold its
shares for investment purposes and confirms that it is not intending to make
an offer for Breedon. This is a statement to which Rule 2.8 of the Takeover
Code (the "Code") applies.

Rule 2.8 notes

Except with the consent of the Panel on Takeovers and Mergers (the "Takeover
Panel"), Abicad is prohibited from announcing an offer or possible offer for
Breedon and from taking certain other actions as set out in Rule 2.8 of the
Code for a period of six months from the date of this announcement.

Under Note 2 on Rule 2.8 of the Code, Abicad reserves the right to set the
restrictions in Rule 2.8 aside in the following circumstances: (a) with the
agreement of the Board of Breedon; (b) if a third party announces a firm
intention to make an offer for Breedon; (c) if Breedon announces a Rule 9
waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a
reverse takeover (as defined in the Code); and (d) if there has been a
material change of circumstances (as determined by the Takeover Panel).

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