REG - Takeover Panel National World PLC Neo Media Publishing - Clarification deadline for National World

National WorldAnnouncement

Yesterday 16:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250502:nRSB3035Ha&default-theme=true

RNS Number : 3035H  Takeover Panel  02 May 2025

2025/2

NATIONAL WORLD PLC ("NATIONAL WORLD")

 

NEO MEDIA PUBLISHING LIMITED ("MEDIA CONCIERGE")

 

ELDRIDGE MEDIA HOLDINGS LLC ("EMH")

On 18 December 2024, the boards of National World and Media Concierge
announced that they had reached agreement on the terms of a recommended cash
offer pursuant to which Media Concierge would acquire the entire issued and to
be issued share capital of National World not already owned by Media Concierge
(the "Media Concierge Offer"), to be implemented by means of a scheme of
arrangement.

On 20 January 2025, National World published a scheme circular in relation to
the Media Concierge Offer. That circular included notice of the shareholder
meetings to approve the Media Concierge Offer, which were convened for 13
February 2025 (the "Shareholder Meetings").

On 13 February 2025, the Shareholder Meetings were held and National World
announced that the requisite majorities of shareholders had voted in favour of
the relevant resolutions proposed at the Shareholder Meetings.

On 25 February 2025, National World announced that the timetable for
implementation of the acquisition by Media Concierge had been impacted by a
delay relating to regulatory approvals and that, as a result, the court
sanction hearing and effective date scheduled for 6 March 2025 and 10 March
2025 respectively would no longer occur on those dates.

On 28 March 2025, National World announced that it had received an approach
with regard to a possible offer from EMH.

On 30 April 2025, National World announced that the court sanction hearing in
respect of the Media Concierge Offer would be reconvened and held on 22 May
2025 (the "Rescheduled Court Hearing").

Pursuant to Section 4 of Appendix 7 of the Takeover Code, the Panel Executive
has ruled that, unless the Executive consents otherwise, EMH must by 5.00pm on
15 May 2025, being the seventh day prior to the Rescheduled Court Hearing,
either announce a firm intention to make an offer for National World under
Rule 2.7 of the Code or announce that it does not intend to make an offer for
National World. This deadline will cease to apply if, before that time, a
third party other than EMH has announced a firm intention to make an offer for
National World under Rule 2.7.

Each of National World, Media Concierge and EMH has accepted this ruling.

2 May 2025

 

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  POTZLLFBEELXBBV