REG - Lecram Holdings Ltd Purplebricks Group - Offer Update

PurplebricksAnnouncement

31/05/2023 15:30

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RNS Number : 2152B  Lecram Holdings Ltd  31 May 2023

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

THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UNITED
KINGDOM ("UK") CITY CODE ON TAKEOVERS AND MERGERS (THE "TAKEOVER Code")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN RELATION TO PURPLEBRICKS PLC
FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS WHICH FORM PART OF UK
DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT OF 2018.

FOR IMMEDIATE RELEASE

31 May 2023

Lecram Holdings Limited (Lecram")

NO INTENTION TO BID STATEMENT

Further to the announcements made by Purplebricks Group plc ("Purplebricks"),
on 26 May 2023, that it had received an indicative offer proposal from Lecram
to acquire the entire issued and to be issued share capital of Puplebricks,
Lecram Holdings Limited today confirms that it has decided not to proceed with
its indicative offer proposal and therefore it is not intending to make an
offer.

The reason leading to Lecram's decision not to proceed is, principally, that
the financial condition of Purplebricks was found to be significantly worse
than expected.

This is a statement to which Rule 2.8 of the Takeover Code applies.

 

 The Nisse Consultancy:

 Jason Nisse             Tel: 07769 688618

 Andrew Garfield         Tel: 07974 982337

 

No offer or solicitation:

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,
acquire, subscribe for, sell, dispose of or issue, or any solicitation to
purchase, acquire, subscribe for, sell, dispose of or issue any securities in
Purplebricks in any jurisdiction.

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No investment recommendation:

This announcement is not intended to be and does not constitute or contain any
investment recommendation as defined by Regulation (EU) No 596/2014 (as it
forms part of the domestic law in the United Kingdom by virtue of the European
Union (Withdrawal) Act 2018). No information in this announcement should be
construed as recommending or suggesting an investment strategy. Nothing in
this announcement or in any related materials is a statement of or indicates
or implies any specific or probable value outcome in any particular
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