REG - Fulcrum Utility Srvc - Response to Unsolicited Proposed Tender Offer

Fulcrum Utility ServicesAnnouncement

09/04/2020 10:15

RNS Number : 3636J
  
Fulcrum Utility Services Ltd
  
09 April 2020
  
 

9 April 2020
FULCRUM UTILITY SERVICES LIMITED
("Fulcrum" or the "Company")
Response to Unsolicited Proposed Tender Offer by Harwood Capital LLP
Fulcrum Utility Services Limited, the UK's market leading independent multi-utility infrastructure and services provider notes the unsolicited approach and announcement by Harwood Capital LLP of its intention to make a tender offer for up to 53,500,000 ordinary shares in Fulcrum at a price of 26.25 pence per share and to propose a resolution to seek a delisting of Fulcrum from trading on AIM (the " Tender Offer").
The Board views this as an opportunistic manoeuvre by Harwood against the backdrop of stock market uncertainty and share price volatility as a result of the ongoing COVID-19 pandemic. 
The Board's detailed response will be announced in due course and, in the meantime, the Board unanimously recommend shareholders to take no action and not to sell their Fulcrum shares. 
ENDS
 
This announcement contains inside information.


Enquiries:



Fulcrum Utility Services Limited
Daren Harris, Chief Executive Officer
 
Cenkos Securities plc (Nominated adviser and broker)
Max Hartley (Nomad) / Michael Johnson (Sales)
 
N+1 Singer (Joint Corporate Broker)
Sandy Fraser / Rachel Hayes / Carlo Spingardi
 
Camarco (Financial PR advisers)
Ginny Pulbrook / Tom Huddart
 


+44 (0)114 280 4102
 
 
+44 (0)20 7397 8900
 
 
+44 (0)20 7496 3000
 
 
+44(0)203 757 4992
 




 


 



Notes to Editors:
Fulcrum is a multi-utility infrastructure and services provider based in Sheffield, UK. The Company's primary business is the provision of utility infrastructure services to the residential, commercial and industrial markets throughout the mainland UK. These range from the design, installation or alteration of utility services for single site properties to large complex multi-site projects. Through its subsidiaries, Fulcrum Pipelines Limited and Fulcrum Electricity Assets Limited, Fulcrum is also licensed as an Independent Gas Transporter and Independent Distribution Network Operator, owning and operating gas and electrical assets that connect properties to the main UK gas and electricity networks. Fulcrum is also a meter asset manager, owning and operating meter assets across mainland UK.
http://www.fulcrum.co.uk/
 
 


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