REG - Takeover Panel Go-Ahead Group PLC Kelsian Group Ltd - Statement re (POTAM) The Go-Ahead Group Plc

KelsianAnnouncement

11/07/2022 09:00

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RNS Number : 9897R  Takeover Panel  11 July 2022

2022/13

THE GO-AHEAD GROUP PLC ("GO-AHEAD")

 

GERRARD INVESTMENT BIDCO LIMITED ("GERRARD")

 

KELSIAN GROUP LIMITED ("KELSIAN")

 

 

On 13 June 2022, Go-Ahead announced that it had received separate unsolicited,
conditional approaches regarding possible offers for its entire issued and to
be issued share capital from each of Kelsian and a consortium consisting of
Kinetic Holding Company Pty Ltd and Globalvia Inversiones S.A.U.
("Globalvia").

 

On 13 June 2022, the boards of Go-Ahead and Gerrard, a newly formed company
indirectly owned by Kinetic TCo Pty Ltd and Globalvia, announced that they had
reached agreement on the terms of a recommended firm offer for Go-Ahead
(the "Consortium Offer"), to be implemented by means of a scheme of
arrangement.

 

On 11 July 2022, Go-Ahead announced the publication of the scheme circular in
relation to the Consortium Offer. That circular included notice of the
shareholder meetings to approve the Consortium Offer, which are scheduled to
be held on 8 August 2022.

 

Pursuant to Rule 2.6(d) and Section 4 of Appendix 7 of the Takeover Code, the
Panel Executive has ruled that, unless the Executive consents otherwise,
Kelsian must, by 5:00 pm on 1 August 2022, being the seventh day prior to the
date of the shareholder meetings, either announce a firm intention to make an
offer for Go-Ahead under Rule 2.7 of the Code or announce that it does not
intend to make an offer for Go-Ahead.

 

This deadline will cease to apply if, before that time, a third party other
than Kelsian has announced a firm intention to make an offer for Go-Ahead
under Rule 2.7.

 

Each of Go-Ahead, Gerrard and Kelsian has accepted this ruling.

 

11 July 2022

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