REG - Redrow PLC - De-listing and Cancellation of Trading

Peel HuntAnnouncement

23/08/2024 09:15

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RNS Number : 5799B  Redrow PLC  23 August 2024

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

FOR IMMEDIATE RELEASE

23 August 2024

REDROW PLC

DE-LISTING AND CANCELLATION OF TRADING OF REDROW SHARES

Further to the announcements made by Barratt Developments plc ("Barratt") and
Redrow plc ("Redrow") on 20 August 2024 and 21 August 2024 regarding the
sanction of the Scheme by the Court and the Scheme becoming Effective, Redrow
today announces that, following an application on behalf of Redrow, the
Financial Conduct Authority has cancelled the listing of Redrow Shares on the
Official List maintained by the Financial Conduct Authority and the London
Stock Exchange has cancelled the trading of Redrow Shares on the London Stock
Exchange's main market for listed securities, in each case with effect from
8.00 a.m. today, 23 August 2024.

All references to times in this announcement are to London time, unless
otherwise stated.

Capitalised terms used but not otherwise defined in this announcement have the
meanings given to them in the scheme document published on 19 April 2024 in
relation to the recommended all-share offer for the combination of Barratt and
Redrow, pursuant to which Barratt acquired the entire issued and to be issued
ordinary share capital of Redrow (the "Combination"), which was effected by
means of a Court-sanctioned scheme of arrangement under Part 26 of the
Companies Act 2006 (the "Scheme Document").

Full details of the Combination are set out in the Scheme Document, which is
also available on Redrow's website at
https://investors.redrowplc.co.uk/offer-for-redrow.

 

Enquiries

 

 Redrow plc                                                                       +44 (0) 1244 520 044

 Matthew Pratt, Group Chief Executive

 Barbara Richmond, Group Finance Director

 Barclays Bank PLC, acting through its Investment Bank (Joint Financial Adviser  +44 (0) 20 7623 2323
 and Corporate Broker to Redrow)

 Alisdair Gayne

 Osman Akkaya

 Tom Macdonald

 Akshay Majithia

 Mark Gunalan
 Peel Hunt (Joint Financial Adviser, Sole Rule 3 Adviser and Corporate Broker     +44 (0) 20 7418 8900
 to Redrow)

 Charles Batten

 Marc Jones

 Pete Mackie

 Ben Harrington

 Rebecca Bankhead
 Instinctif Partners (Public Relations Adviser to Redrow)                        +44 (0) 20 7457 2020

 Guy Scarborough

Slaughter and May is acting as legal adviser to Redrow.

Important Notices

Barclays Bank PLC, acting through its Investment Bank ("Barclays"), which is
authorised by the Prudential Regulation Authority and regulated in the United
Kingdom by the Financial Conduct Authority and the Prudential Regulation
Authority, is acting exclusively for Redrow and no one else in connection with
the subject matter of this announcement and will not be responsible to anyone
other than Redrow for providing the protections afforded to clients of
Barclays nor for providing advice in relation to the subject matter of this
announcement.

In accordance with the Takeover Code, normal United Kingdom market practice
and Rule 14e-5(b) of the US Exchange Act, Barclays and its affiliates will
continue to act as exempt principal trader in Redrow securities on the London
Stock Exchange. These purchases and activities by exempt principal traders
which are required to be made public in the United Kingdom pursuant to the
Takeover Code will be reported to a Regulatory Information Service and will be
available on the London Stock Exchange website at www.londonstockexchange.com.
This information will also be publicly disclosed in the United States to the
extent that such information is made public in the United Kingdom.

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting exclusively as financial
adviser and corporate broker to Redrow and for no one else in connection with
the matters referred to in this announcement and will not be responsible to
any person other than Redrow for providing the protections afforded to clients
of Peel Hunt, nor for providing advice in relation to the matters referred to
herein. Neither Peel Hunt 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 Peel Hunt in connection with the matters referred to in this
announcement, 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 or invitation to purchase,
otherwise acquire, subscribe for, sell or otherwise dispose of, any securities
or the solicitation of any vote or approval in relation to the Combination or
the Scheme or otherwise, in any jurisdiction in which such offer, invitation
or solicitation is unlawful.

This announcement has been prepared for the purpose of complying with English
law and the Takeover Code and the 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 England and Wales. Nothing
in this announcement should be relied on for any other purpose.

Publication on website

A copy of this announcement will be made available on Redrow's website at
https://investors.redrowplc.co.uk/offer-for-redrow by no later than 12 noon
(London time) on 27 August 2024. For the avoidance of doubt, the contents of
those websites are not incorporated and do not form part of this announcement.

General

If you are in any doubt as to the contents of this announcement, you should
consult your stockbroker, bank manager, solicitor, accountant or independent
professional adviser who, if you are taking advice in the United Kingdom, is
authorised pursuant to the Financial Services and Markets Act 2000 (as
amended) or, if you are in a territory outside the United Kingdom, is an
appropriately authorised financial adviser.

The International Securities Identification Number for Redrow Shares is
GB00BG11K365.

Redrow plc LEI: 2138008WJZBBA7EYEL28

 

 

 

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