Vukile Property Fund Capital & Regional - Statement re no intention to bid
28/05/2024 12:15
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RNS Number : 1179Q Vukile Property Fund Limited 28 May 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 UK CITY CODE ON
TAKEOVERS AND MERGERS (THE "CODE").
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
28 May 2024
No intention to bid statement regarding Capital & Regional plc
Further to the announcement made on 23 May 2024 in relation to a possible
offer for Capital & Regional plc ("Capital & Regional") by Vukile
Property Fund Limited ("Vukile"), which was submitted on 19 April 2024, Vukile
has engaged with Capital & Regional's largest shareholder, Growthpoint
Properties Limited ("Growthpoint"), which controls approximately 68.1% of its
share capital, to evaluate the potential terms and structure of a possible
offer. However Vukile has not been able to reach agreement with Growthpoint as
to the terms and structure of any possible offer and therefore confirms that
it does not intend to make an offer under Rule 2.7 of the Code.
This is a statement to which Rule 2.8 of the Code applies.
For the purposes of Rule 2.8 of the Code, Vukile reserve the right, either
together or individually, to announce or participate in an offer or possible
offer for Capital & Regional and/or to take any other action which would
otherwise be restricted under Rule 2.8 of the Code within 6 months after the
date of this announcement in the following circumstances described in Note 2
on Rule 2.8 of the Code: (i) with the consent of the Board of Capital &
Regional; (ii) if a third party announces a firm intention to make an offer
for Capital & Regional; (iii) if Capital & Regional 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); or (iv) if the Panel determines
there has been a material change of circumstances.
Vukile, and any person acting in concert with Vukile, reserve the right to
acquire and/or offer to acquire Capital & Regional shares or interests in
Capital & Regional shares subject to and in accordance with Rule 2.8 of
the Code.
Enquiries:
Vukile Property Fund Limited
Laurence Rapp
+27 83 266 3011
Marijke Coetzee +27 82 852
0247
BofA Securities (Financial Adviser to Vukile)
Stephen
Little
+44 20 7628 1000
Geoff Iles
Marcus Jackson
Anthony Knox
Gbolawoyi Ajayi
Important information
This announcement is not intended to, and does not, constitute, represent or
form part of any offer, invitation or solicitation of an offer to purchase,
otherwise acquire, subscribe for, sell or otherwise dispose of any securities
or the solicitation of any vote or approval in any jurisdiction whether
pursuant to this announcement or otherwise.
The 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 the restrictions may constitute a
violation of the securities law of any such jurisdiction.
Merrill Lynch International ("BofA Securities"), which is authorised by the
Prudential Regulation Authority ("PRA") and regulated by the Financial Conduct
Authority ("FCA") and the PRA in the United Kingdom, is acting as financial
adviser exclusively for Vukile and for no one else and will not be responsible
to anyone other than Vukile for providing the protections afforded to its
clients or for providing advice in relation to the matters referred to in this
announcement. Neither BofA Securities, nor any of its affiliates, owes or
accepts any duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise) to any
person who is not a client of BofA Securities in connection with this
announcement, any statement contained herein or otherwise.
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