REG-Redde Northgate Plc: Rule 19.6(b) update

Redde NorthgateAnnouncement

01/05/2020 17:20

1 May 2020

Redde Northgate plc
("Redde Northgate")

Rule 19.6(b) update to stated post-offer intention statement

Redde Northgate plc announces that, further to the completion of the merger of
Redde Plc and Northgate Plc on 21 February 2020 (the  “Merger”), certain
courses of action have been taken which differ from its statements of intent
made pursuant to Rule 2.7(c)(iv) and 24.2(a)(iii) of the City Code on
Takeovers and Mergers (the "Stated Intentions") which were set out in its
announcement of 29 November 2019 and the scheme document published in
connection with the Merger on 12 December 2020 (together, the "Offer
Documentation").

This announcement is required under Rule 19.6(b) of the City Code on Takeovers
and Mergers.

The Stated Intentions included Redde Northgate's intention, as at the date of
the Offer Documentation, to make no material changes to the employment
conditions of employees of Redde plc.

In light of the COVID-19 pandemic Redde Northgate has taken steps to furlough
certain employees.  This has included employees who joined Redde Northgate
from Redde at the completion of the Merger.  The current terms of such
furlough arrangements reflect the relevant guidelines issued by the UK
government. Redde Northgate is keeping such arrangements under review. It
intends them to be temporary and to end the furlough arrangements when
appropriate.

The contractual rights of Redde Northgate employees will otherwise continue to
be maintained.
 

-Ends-

For further information, contact:

Buchanan                                             
                                   
David Rydell/Jamie Hooper/Tilly Abraham          +44 (0) 207 466 5000

Notes to Editors:

Redde Northgate plc is a leading integrated mobility solutions platform formed
in February 2020 following the all-share merger of light commercial hire
business Northgate plc and Redde plc, the provider of incident and accident
management, legal and other mobility-related services.

The Group provides mobility solutions and automotive services to a wide range
of businesses and customers spanning the vehicle life cycle across vehicle
supply, service, maintenance, repair, recovery, accident and incident
management and disposal through sale or salvage.

With an extensive network and diversified fleet of over 110,000 owned vehicles
and over 400,000 managed vehicles in more than 100 branches across the UK,
Ireland and Spain, the Group aims to utilise its scale, reach and
comprehensive suite of integrated services to offer a market-leading customer
proposition and drive enhanced returns for shareholders.

Further information regarding Redde Northgate plc can be found on the
Company’s website:

www.reddenorthgate.co.uk



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