REG - Purplebricks Group - Statement regarding Lecram Holdings Limited

PurplebricksAnnouncement

31/05/2023 09:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230531:nRSe1661Ba&default-theme=true

RNS Number : 1661B  Purplebricks Group PLC  31 May 2023

 

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.

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS CONSIDERED TO CONSTITUTE
INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE MARKET ABUSE
REGULATIONS (EU) NO. 596/2014 AS INCORPORATED INTO UK DOMESTIC LAW BY VIRTUE
OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). UPON THE PUBLICATION
OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION WILL BE CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

FOR IMMEDIATE RELEASE

 

31 May 2023

Purplebricks Group plc

("Purplebricks" or the "Company")

Statement regarding Lecram Holdings Limited

 

Purplebricks announces, further to the announcement on 26 May 2023 outlining
an indicative proposal from Lecram Holdings Limited ("Lecram") to acquire the
entire issued, and to be issued, share capital of the Company (the
"Proposal"), Lecram have informed the Board that they have withdrawn their
Proposal and at the current time do not intend to make an offer for
Purplebricks.

With regard to the proposed sale of business and assets to Strike Limited (the
"Proposed Sale"), the Board continues to recommend the Company's shareholders
vote in favour the resolutions being proposed at its general meeting to take
place on 2 June 2023 in order to implement the Proposed Sale.

This announcement has been made without the consent of Lecram.

 Enquiries

 For further information, please contact:
 Purplebricks
 Helena Marston (CEO)                              Via M7 Communications Ltd

 Dominique Highfield (CFO)

 Zeus (Financial Adviser, Nominated Adviser and Broker)
 Jamie Peel, James Hornigold (Investment Banking)  + 44 (0)20 3829 5000
 Ben Robertson (Corporate Broking)

 PricewaterhouseCoopers LLP (Financial Adviser)    +44 (0) 20 7583 5000
 Jon Raggett

 

 M7 Communications
 Mark Reed          + 44 (0) 7903 089 543

                    mark@m7communications.co.uk

 

The person responsible for arranging for the release of this announcement on
behalf of the Company is Dominique Highfield, Chief Financial Officer.

About Purplebricks

Purplebricks is a leading technology-led estate agency business, based in the
UK. Purplebricks combines highly experienced and professional Local Property
Partners and innovative technology to help make the process of selling, buying
or letting more convenient, transparent and cost effective. Purplebricks
shares are traded on the London Stock Exchange AIM market.

Additional information

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities, or the
solicitation of any vote or approval in any jurisdiction, pursuant to this
announcement or otherwise. Any offer, if made, will be made solely by certain
offer documentation which will contain the full terms and conditions of any
offer, including details of how it may be accepted. The distribution of this
announcement in jurisdictions other than the United Kingdom and the
availability of any offer to shareholders of Purplebricks who are not resident
in the United Kingdom may be affected by the laws of relevant jurisdictions.
Therefore, any persons who are subject to the laws of any jurisdiction other
than the United Kingdom or shareholders of Purplebricks who are not resident
in the United Kingdom will need to inform themselves about, and observe any
applicable requirements.

Notice related to financial adviser

Zeus Capital Limited, which is authorised and regulated by the Financial
Conduct Authority in the United Kingdom, is acting exclusively
for Purplebricks and for no one else in connection with the subject matter
of this announcement and will not be responsible to anyone other
than Purplebricks for providing the protections afforded to its clients or
for providing advice in connection with the subject matter of this
announcement.

PwC is authorised and regulated in the United Kingdom by the Financial Conduct
Authority ("FCA") and is acting exclusively for the Purplebricks and for no
one else in connection with the subject matter of this announcement and will
not be responsible to anyone other than Purplebricks for providing the
protections afforded to its clients nor for providing advice in relation to
the subject matter of this announcement.

 

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  STRNKDBBFBKKAPN