REG - Equals Group PLC - Update on Conditions and Expected Timetable

EqualsAnnouncement

02/04/2025 15:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250402:nRSB4058Da&default-theme=true

RNS Number : 4058D  Equals Group PLC  02 April 2025

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

 

RECOMMENDED CASH ACQUISITION

for

Equals Group plc (Equals)

by

Alakazam Holdings BidCo Limited (BidCo)

a newly-incorporated company to be indirectly wholly-owned by a consortium
comprising (i) the TowerBrook Funds (ii) the J.C. Flowers Funds and (iii) the
Railsr Shareholders

to be effected by means of a scheme of arrangement

under Part 26 of the Companies Act 2006

2 April 2025

Update on Conditions and Updated Expected Scheme Timetable

On 11 December 2024, the boards of Equals and BidCo announced that they had
reached agreement on the terms of a recommended all cash acquisition of the
entire issued and to be issued ordinary share capital of Equals (the
Acquisition).

The Acquisition is to be effected by means of a Court-sanctioned scheme of
arrangement under Part 26 of the Companies Act 2006 (the Scheme) and is
subject to the terms and conditions set out in the scheme document relating to
the Acquisition (the Scheme Document) published on 17 December 2024. Unless
otherwise defined, all capitalised terms in this announcement have the meaning
given to them in the Scheme Document. All references to times are to London,
UK, times unless otherwise stated.

As announced on 8 January 2025, the Scheme was approved by the requisite
majority of Scheme Shareholders at the Court Meeting held on 8 January 2025
and the Special Resolutions relating to the implementation of the Scheme were
also approved by the requisite majority of Equals Shareholders at the General
Meeting also held on 8 January 2025.

Satisfaction of regulatory Conditions

Equals and BidCo are pleased to announce that the Regulatory Conditions set
out in paragraphs 3.2 to 3.7 of Part III (Conditions to the Implementation of
the Scheme and to the Acquisition) of the Scheme Document have now been
satisfied.

Completion of the Acquisition remains subject to the Court's sanction of the
Scheme at the Court Hearing, the delivery of a copy of the Scheme Court Order
to the Registrar of Companies and the satisfaction (or, where applicable,
waiver) of the remaining Conditions set out in Part III (Conditions to the
Implementation of the Scheme and to the Acquisition) of the Scheme Document.

A further announcement will be made following the Court Hearing.

Next steps and timetable

Equals and BidCo are pleased to confirm that the Court Hearing to sanction the
Scheme is scheduled to be held on 10 April 2025. Further details of the Court
Hearing will be available on the Business and Property Courts Rolls Building
Cause List at www.justice.gov.uk (http://www.justice.gov.uk) on the day before
the Court Hearing.

An updated expected timetable of principal events for the implementation of
the Scheme is set out in the Appendix to this announcement. On the basis of
the current expected timetable, and subject to the satisfaction (or where
applicable, waiver) of the remaining Conditions, the Scheme is expected to
become Effective on 14 April 2025. The last day of dealings in, and for
registration of transfers of, Equals Shares is therefore expected to be 11
April 2025, with all dealings in Equals Shares being suspended at 7.30 a.m. on
14 April 2025. It is also expected that the admission to trading of Equals
Shares on AIM will be cancelled with effect from 7.00 a.m. on 15 April 2025.

The dates and times in the expected timetable (including as repeated in the
rest of this announcement) are indicative only, are based on Equals' and
BidCo's current expectations and are subject to change. The dates will depend,
among other things, on the date on which: (i) the Conditions are satisfied or
(if capable of waiver) waived; (ii) the Court sanctions the Scheme; and (iii)
the Court Order sanctioning the Scheme is delivered to the Registrar of
Companies.

If any of the key dates and/or times set out in the expected timetable change,
the revised dates and/or times will be notified to Equals Shareholders by
issuing an announcement through a Regulatory Information Service, with such
announcement being made available on Equals' website at:
https://www.equalsplc.com/strategic-review
(https://www.equalsplc.com/strategic-review) .

Enquiries:

 Equals                                                                          via Burson Buchanan
 Ian Strafford-Taylor

 Richard Cooper

 Canaccord Genuity (Financial Adviser, Nominated Adviser & Sole Broker to        +44 (0) 20 7523 8000
 Equals)
 Sunil Duggal

 Bill Gardiner

 Max Hartley

 Harry Rees

 Lazard (Financial Adviser to Equals)                                            +44 (0) 20 7187 2000
 Nicholas Millar

 Jason Welham

 Burson Buchanan (Financial Communications for Equals)                           equals@buchanan.uk.com (mailto:equals@buchanan.uk.com)
 Henry Harrison-Topham

 Toto Berger

 Stephanie Whitmore

 TowerBrook                                                                      +44 (0) 20 7451 2020
 Filippo Cardini

 J.C. Flowers                                                                    +44 (0) 20 7710 0500
 Tim Hanford

 Railsr                                                                          press@railsr.com
 Philippe Morel

 Iwona Jordan

 PJT Partners (Financial Adviser to TowerBrook, J.C. Flowers, Railsr and BidCo)  +44 (0) 20 7650 1100
 Jonathan Hall

 Basil Geoghegan

 Ralph Van Den Abbeele

 Rothschild & Co (Financial Adviser to TowerBrook, J.C. Flowers, Railsr and      +44 (0) 20 7280 5000
 BidCo)
 Toby Ross

 Guy Luff

 William Rooney

 Perella Weinberg Partners (Financial Adviser to J.C. Flowers)                   +44 (0) 20 7268 2800
 Timm Schipporeit

 Edyta Lipka

 

Ashurst LLP is acting as legal adviser to Equals. Norton Rose Fulbright LLP is
acting as legal adviser to TowerBrook and the BidCo Group. Macfarlanes LLP is
acting as legal adviser to J.C. Flowers. Mishcon de Reya LLP is acting as
legal adviser to Railsr.

Important notices

Notices relating to financial advisers

PJT Partners, which is authorised and regulated by the Financial Conduct
Authority in the United Kingdom, is acting exclusively for TowerBrook, J.C.
Flowers, Railsr and BidCo and no-one else in connection with the Acquisition
and will not be responsible to anyone other than TowerBrook, J.C. Flowers,
Railsr and BidCo for providing the protections afforded to clients of PJT
Partners nor for providing advice in relation to the Acquisition. Neither PJT
Partners nor any of its subsidiaries, branches or affiliates nor any of their
respective directors, officers, employees or agents 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 PJT Partners in connection with the Acquisition, any statement
contained herein or otherwise.

Rothschild & Co, which is authorised and regulated in the UK by the
Financial Conduct Authority, is acting exclusively as financial adviser to
TowerBrook, J.C. Flowers, Railsr and BidCo and no one else in connection with
the Acquisition and shall not be responsible to anyone other than TowerBrook,
J.C. Flowers, Railsr and BidCo for providing the protections afforded to
clients of Rothschild & Co nor for providing advice in connection with the
Acquisition or any matter referred to herein.

Perella Weinberg Partners, which is authorised and regulated in the UK by the
Financial Conduct Authority, is acting exclusively as financial adviser to
J.C. Flowers and no one else in connection with the Acquisition and shall not
be responsible to anyone other than J.C. Flowers for providing the protections
afforded to clients of Perella Weinberg Partners nor for providing advice in
connection with the Acquisition or any matter referred to herein. Neither
Perella Weinberg Partners nor any of its subsidiaries, branches or affiliates
and their respective directors, officers, employees or agents 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 Perella Weinberg Partners in connection with this
announcement, any statement contained herein or otherwise.

Canaccord Genuity, which is authorised and regulated by the FCA in the United
Kingdom, is acting financial adviser exclusively for Equals and no-one else in
connection with the matters described in this announcement and will not be
responsible to anyone other than Equals for providing the protections afforded
to clients of Canaccord Genuity nor for providing advice in relation to a
potential acquisition of Equals or any other matters referred to herein.
Neither Canaccord Genuity 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 Canaccord Genuity in connection with this announcement, any
statement contained herein, to a potential acquisition of Equals or otherwise.

Lazard, which is authorised and regulated in the United Kingdom by the FCA, is
acting as financial adviser to Equals and no one else in connection with the
matters set out in this announcement and will not be responsible to anyone
other than Equals for providing the protections afforded to clients of Lazard
nor for providing advice in relation to the matters set out in this
announcement. Neither Lazard 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 Lazard in connection with this announcement, any statement
contained herein or otherwise.

Further information

This announcement is for information purposes only and is not intended to and
does not constitute, or form part of, any offer to sell or an invitation to
purchase any securities; a solicitation of an offer to buy, otherwise acquire,
subscribe for, sell or otherwise dispose of any securities pursuant to the
Acquisition otherwise; or the solicitation of any vote or approval in any
jurisdiction pursuant to the Acquisition or otherwise nor shall there be any
purchase, sale, issuance or exchange of securities or such solicitation in any
jurisdiction in which such offer, solicitation, sale issuance or exchange is
unlawful. The Acquisition is made solely by means of the Scheme Document (or,
if the Acquisition is implemented by way of a Takeover Offer, the Offer
Document) which, together with any related forms of proxy, contain the full
terms and conditions of the Acquisition. Any decision in respect of, or other
response to, the Acquisition should be made only on the basis of the
information contained in the Scheme Document (or, if the Acquisition is
implemented by way of a Takeover Offer, the Offer Document).

Equals urges Equals Shareholders to read the Scheme Document in full because
it contains important information relating to the Acquisition. This
announcement has been prepared in accordance with the laws of England and
Wales, the Code, the AIM Rules for Companies and the Disclosure Guidance and
Transparency Rules and the information disclosed may not be the same as that
which would have been prepared in accordance with the laws of jurisdictions
outside England and Wales.

The contents of this announcement are not to be construed as legal, business,
financial or tax advice. If you are in any doubt about the contents of this
announcement, you should consult your own legal adviser, financial adviser or
tax adviser for legal, business, financial or tax advice.

The statements contained in this announcement are made as at the date of this
announcement, unless some other time is specified in relation to them, and
publication of this announcement shall not give rise to any implication that
there has been no change in the facts set forth in this announcement since
such date. Nothing in this announcement shall be deemed to be a forecast,
projection or estimate of the future financial performance of Equals or BidCo
except where otherwise stated.

This announcement does not constitute a prospectus or prospectus exempted
document.

Overseas Shareholders

The release, publication or distribution of this announcement in jurisdictions
other than the United Kingdom, and the availability of the Acquisition to
Equals Shareholders who are not resident in the United Kingdom, may be
restricted by the laws of those jurisdictions and therefore persons into whose
possession this announcement comes should inform themselves about and observe
such restrictions. Any failure to comply with any such restrictions may
constitute a violation of the securities laws of any such jurisdiction. To the
fullest extent permitted by applicable law, the companies and persons involved
in the Acquisition disclaim any responsibility or liability for the violation
of such restrictions by any person. This announcement does not constitute an
offer or invitation to purchase or subscribe for any securities or a
solicitation of an offer to buy any securities pursuant to this announcement
or otherwise in any jurisdiction in which such offer or solicitation is
unlawful.

Unless otherwise determined by BidCo or required by the Takeover Code, and
permitted by applicable law and regulation, the Acquisition will not be made
available, directly or indirectly, in, into or from a Restricted Jurisdiction.
Accordingly, copies of this announcement and all documents relating to the
Acquisition are not being, and must not be, directly or indirectly, mailed or
otherwise forwarded, distributed or sent in, into or from a Restricted
Jurisdiction, and persons receiving this announcement and all documents
relating to the Acquisition (including custodians, nominees and trustees) must
not mail or otherwise distribute or send them in, into or from such Restricted
Jurisdiction. If the Acquisition is implemented by way of a Takeover Offer
(unless otherwise permitted by applicable law and regulation), the Offer may
not be made directly or indirectly, in or into, or by the use of mails or any
means or instrumentality (including, but not limited to, facsimile, e-mail or
other electronic transmission, telex or telephone) of interstate or foreign
commerce of, or of any facility of a national, state or other securities
exchange of any Restricted Jurisdiction and the Offer may not be capable of
acceptance by any such use, means, instrumentality or facilities.

This announcement has been prepared in relation to the Scheme pursuant to and
for the purpose of complying with English law and the Takeover Code and
information disclosed may not be the same as that which would have been
disclosed if this announcement had been prepared in accordance with the laws
of jurisdictions outside the United Kingdom. Nothing in this announcement
should be relied on for any other purpose.

The Acquisition shall be subject to the applicable requirements of the
Takeover Code, the Panel, the London Stock Exchange, the Financial Conduct
Authority and the AIM Rules.

No person has been authorised to give any information or make any
representations other than those contained in this announcement and, if given
or made, such information or representations must not be relied upon as having
been authorised by Equals, the Equals Directors, BidCo, the Consortium
Responsible Persons, the TowerBrook Funds, the J.C. Flowers Funds, the Railsr
Shareholders, Canaccord Genuity, Lazard, Rothschild & Co, Perella Weinberg
Partners, PJT Partners or any other person involved in the Acquisition.
Neither the delivery of this announcement nor holding the Meetings, the Court
Hearing, nor filing the Court Order shall, under any circumstances, create any
implication that there has been no change in the affairs of the Equals Group
or the BidCo Group since the date of this announcement or that the information
in this announcement is correct as at any time subsequent to its date.

Notice to Equals Shareholders in the United States

The Acquisition relates to the shares of an English company whose shares are
admitted to trading on AIM and is being made by means of a scheme of
arrangement provided for under English law. A transaction effected by means of
a scheme of arrangement is not subject to, and this transaction is not subject
to, the tender offer or proxy solicitation rules under the US Securities
Exchange Act of 1934 (the US Exchange Act). Accordingly, the Acquisition is
subject to the procedural and disclosure requirements and practices applicable
in the United Kingdom to schemes of arrangement which differ from the
requirements of the tender offer and proxy solicitation rules under the US
Exchange Act. The financial information included in this announcement has been
prepared in accordance with accounting standards of the United Kingdom and
thus may not be comparable to financial information of US companies or
companies whose financial statements are prepared in accordance with generally
accepted accounting principles in the United States.

If, in the future, BidCo exercises its right to implement the Acquisition by
way of a Takeover Offer and determines to extend such Takeover Offer into the
United States, such Takeover Offer will be made in compliance with all
applicable U.S. laws and regulations, including, without limitation, to the
extent applicable, Section 14(e) of the US Exchange Act and Regulation 14E
thereunder. Such a takeover would be made in the United States by BidCo and no
one else.

In the event that the Acquisition is implemented by way of Takeover Offer, in
accordance with normal United Kingdom practice and pursuant to Rule 14e-5(b)
of the US Exchange Act (if applicable), BidCo, certain affiliated companies
and their nominees or brokers (acting as agents), may from time to time make
certain purchases of, or arrangements to purchase, Equals Shares outside of
the US, other than pursuant to the Takeover Offer, during the period in which
such Takeover Offer would remain open for acceptance. These purchases may
occur either in the open market at prevailing prices or in private
transactions at negotiated prices and would comply with applicable law,
including the US Exchange Act. Any information about such purchases will be
disclosed as required in the United Kingdom, will be reported to a Regulatory
Information Service and will be made available on the London Stock Exchange
website, www.londonstockexchange.com.

The receipt of cash pursuant to the Scheme by an Equals Shareholder may be a
taxable transaction for US federal income tax purposes, and may also be a
taxable transaction under applicable state and local tax laws, as well as
foreign and other tax laws. Each Equals Shareholder is urged to consult its
independent professional adviser immediately regarding the tax consequences of
the Scheme.

It may be difficult for US holders of Equals Shares to enforce their rights
and claims arising out of the US federal securities laws, since BidCo and
Equals are each organised in countries other than the United States, and some
or all of their officers and directors may be residents of, and some or all of
their assets may be located in, jurisdictions other than the United States. As
a result, US holders of Equals Shares may not be able to effect service of
process upon a non-US company or its officers or directors or to enforce
against them a judgment of a US court for violations of federal or state
securities laws of the United States, including judgments based upon the civil
liability provisions of the US federal securities laws. US holders of Equals
Shares may not be able to sue a non-US company or its officers or directors in
a non-US court for violations of US securities laws. Further, it may be
difficult to compel a non-US company and its affiliates to subject themselves
to a US court's jurisdiction or judgment.

Neither the US Securities and Exchange Commission nor any securities
commission of any state of the United States nor any other US regulatory
authority has approved or disapproved the Acquisition or this announcement,
nor have such authorities passed judgment upon the fairness or the merits of
the Acquisition or determined if the information contained in this
announcement is adequate, accurate or complete. Any representation to the
contrary is a criminal offence in the United States.

Responsibility

The person responsible for arranging the release of this announcement on
behalf of Equals is Ian Strafford-Taylor, Chief Executive Officer.

Publication on website and availability of hard copies

In accordance with Rule 26.1 of the Takeover Code, a copy of this announcement
shall be made available, subject to certain restrictions relating to persons
resident in Restricted Jurisdictions, on Equals' website at
https://www.equalsplc.com/strategic-review
(https://www.equalsplc.com/strategic-review) by no later than 12 noon on the
Business Day following the date of this announcement. For the avoidance of
doubt, the contents of the websites referred to in this announcement are not
incorporated into and do not form part of this announcement.

No profit forecasts or estimates

No statement in this announcement is intended as, or is to be construed as, a
profit forecast, profit estimate or quantified financial benefit statement for
any period and no statement in this announcement should be interpreted to mean
that earnings or earnings per share for Equals for the current or future
financial years would necessarily match or exceed the historical published
earnings or earnings per share for Equals.

Forward looking statements

This announcement and the Scheme Document, oral statements made regarding the
Acquisition, and other information published by BidCo or Equals may contain
statements about BidCo, the Consortium and Equals that are or may be deemed to
be forward-looking statements. All statements other than statements of
historical facts included in this announcement may be forward-looking
statements. Without limitation, any statements preceded or followed by or that
include the words "targets", "plans", "believes", "expects", "aims",
"intends", "will", "may", "shall", "should", "anticipates", "estimates",
"projects", "is subject to", "budget", "scheduled", "forecast" or words or
terms of similar substance or the negative thereof, are forward-looking
statements. Forward-looking statements include statements relating to the
following: (i) future capital expenditures, expenses, revenues, earnings,
synergies, economic performance, indebtedness, financial condition, dividend
policy, losses and future prospects; (ii) business and management strategies
and the expansion and growth of BidCo's or Equals' operations and potential
synergies resulting from the Acquisition; and (iii) the effects of government
regulation on BidCo's or Equals' business.

Such forward-looking statements are prospective in nature and are not based on
historical facts, but rather on current expectations and projections of the
management of BidCo and Equals about future events, and are therefore subject
to risks and uncertainties that could significantly affect expected results
and are based on certain key assumptions. Many factors could cause actual
results to differ materially from those projected or implied in any
forward-looking statements, including: increased competition, the loss of or
damage to one or more key customer relationships, the failure of one or more
key suppliers, the outcome of business or industry restructuring, the outcome
of any litigation, changes in economic conditions, currency fluctuations,
changes in interest and tax rates, changes in laws, regulations or regulatory
policies, developments in legal or public policy doctrines, technological
developments, the failure to retain key management, or the timing and success
of future offer opportunities or major investment projects. Other unknown or
unpredictable factors could cause actual results to differ materially from
those in the forward-looking statements. Such forward-looking statements
should therefore be construed in light of such factors. Neither BidCo nor
Equals, nor any of their respective associates or directors, officers or
advisers, provides any representation, assurance or guarantee that the
occurrence of the events expressed or implied in any forward-looking
statements in this announcement will actually occur. Due to such uncertainties
and risks, readers are cautioned not to place undue reliance on such
forward-looking statements, which speak only as of the date hereof. All
subsequent oral or written forward looking statements attributable to any
member of the BidCo Group or the Equals Group, or any of their respective
associates, directors, officers, employees or advisers, are expressly
qualified in their entirety by the cautionary statement above.

BidCo, the Consortium and Equals expressly disclaim any obligation to update
any forward-looking or other statements contained herein, except as required
by applicable law or by the rules of any competent regulatory authority,
whether as a result of new information, future events or otherwise.

 

APPENDIX

UPDATED EXPECTED TIMETABLE OF PRINCIPAL EVENTS

The following indicative timetable is based on Equals' and BidCo's current
expected dates for the implementation of the Scheme and is subject to change
(including as may be agreed by Equals and BidCo from time to time). If any of
the dates and/or times in this expected timetable change, the revised dates
and/or times will be notified to Equals Shareholders by announcement through
the Regulatory Information Service of the London Stock Exchange, with such
announcement being made available on Equals' website at
https://www.equalsplc.com/strategic-review
(https://www.equalsplc.com/strategic-review) .

 Event                                                                         Time and/or date((1))
 Court Hearing                                                                 10 April 2025
 Last day for dealings in, and for the registration of transfer of, Equals     11 April 2025
 Shares
 Scheme Record Time and record time for the Special Dividend                   6:00 p.m. on 11 April 2025
 Disablement of CREST in respect of Equals Shares                              6:00 p.m. on 11 April 2025
 Suspension of dealings in Equals Shares                                       by 7:30 a.m. on 14 April 2025
 Effective Date of the Scheme                                                  14 April 2025 ((2))
 Cancellation of the admission to trading of Equals Shares on AIM              7:00 a.m. on 15 April 2025
 Latest date for despatch of cheques and crediting of CREST accounts for cash  28 April 2025
 consideration due under the Scheme
 Payment of the Special Dividend                                               by 28 April 2025((3))
 Long Stop Date                                                                30 June 2025 (4)
 (1)         References to times are to London, United Kingdom time
 unless otherwise stated. The dates and times set out in this expected
 timetable are indicative only, are based on Equals' and BidCo's current
 expectations and are subject to change. The dates will depend, among other
 things, on the date on which: (i) the Conditions are satisfied or (if capable
 of waiver) waived; (ii) the Court sanctions the Scheme; and (iii) the Court
 Order sanctioning the Scheme is delivered to the Registrar of Companies.

             If any of the key dates and/or times set out in this
 expected timetable change, the revised dates and/or times will be notified to
 Equals Shareholders by issuing an announcement through a Regulatory
 Information Service, with such announcement being made available on Equals'
 website at: https://www.equalsplc.com/strategic-review
 (https://www.equalsplc.com/strategic-review) .

 (2)         The Scheme will become Effective as soon as a copy of the
 Court Order has been delivered to the Registrar of Companies. This is expected
 to occur following suspension of trading in Equals Shares and the Scheme
 Record Time. The events which are stated as occurring on subsequent dates are
 conditional on the Effective Date and operate by reference to this date.

 (3)         The Special Dividend will be paid within 14 days of the
 Effective Date via either a standing electronic payment mandate with the
 Company's Registrar, Link Group for the purpose of receiving dividend payments
 or a despatch of cheques (as applicable).

 (4)         This is the latest date by which the Scheme may become
 Effective. However, the Long Stop Date may be extended to such later date (i)
 as may be agreed in writing by BidCo and Equals (with the Panel's consent, if
 required); or (ii) (in a competitive situation) as may be specified by BidCo
 with the consent of the Panel; or (iii) as the Panel may direct under the Note
 on Section 3 of Appendix 7 of the Takeover Code, and, in each case, as the
 Court may approve (if such approval is required).

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  SOAEALLAEDKSEFA