REG - Takeover Panel Dignity PLC - Offer by Yellow (SPC) Bidco Ltd for Dignity Plc

DignityAnnouncement

23/03/2023 09:30

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RNS Number : 0176U  Takeover Panel  23 March 2023

2023/4

OFFER BY

Yellow (SPC) BIDCO LIMiTED ("BIDCO")

FOR

DIGNITY PLC ("DIGNITY")

OFFER TIMETABLE SUSPENDED

Rule 31.8 of the Takeover Code provides that, except with the consent of the
Panel, the board of an offeree company should not announce any material new
information after Day 39 of the offer timetable.  Normally, therefore, the
last day for the announcement by Dignity of material new information in the
context of the offer by Bidco would be 25 March 2023.

Under Rule 31.4(a) of the Code, if one or more conditions to an offer relating
to an official authorisation or regulatory clearance has not been satisfied or
waived by 5.00 pm on the second day prior to Day 39, the Panel will normally
suspend the offer timetable:

 (i)   at the joint request of the offeror and the offeree company; or
 (ii)  at the request of either the offeror or the offeree company, provided that at
       least one of the outstanding conditions relates to a material official
       authorisation or regulatory clearance.

Bidco and Dignity have jointly requested a suspension of the offer timetable
in accordance with Rule 31.4(a)(i).

The Panel Executive has agreed to this request and has therefore suspended the
offer timetable.

Under Rule 31.4(b), the offer timetable will resume on the date on which the
last condition relating to a relevant official authorisation or regulatory
clearance is satisfied or waived, which date will then become the 28th day
prior to Day 60 of the revised offer timetable.

In accordance with Rule 31.4(d), when the offer timetable resumes in
accordance with Rule 31.4(b), Bidco will make an announcement confirming the
new Day 60.

The requirement for Bidco to make announcements of acceptance levels under
Rule 17.1(a)(i) of the Code will not apply for the duration of the suspension
of the offer timetable and will recommence when the offer timetable resumes.

 

23 March 2023

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