REG - Macquarie Infra & RA Renewi PLC - Board Change and Post-Offer Update

RenewiAnnouncement

19/06/2025 18:45

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RNS Number : 6570N  Macquarie Infra.& Real Assets Ltd.  19 June 2025

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE
19.6(B) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

FOR IMMEDIATE RELEASE

 

 

19 June 2025

 

Earth Bidco B.V. ("BidCo")

(a company indirectly controlled by Macquarie European Infrastructure Fund 7
SCSp (an investment fund managed by Macquarie Asset Management Europe S.à
r.l.) and BCI UK IRR Limited (an indirect subsidiary of British Columbia
Investment Management Corporation))

 

 

Board change and Rule 19.6(b) update to stated post-offer intention statements
with regard to Renewi plc ("Renewi")

BidCo announces that, further to the completion of its recommended cash offer
for Renewi, which was effected by way of scheme of arrangement under Part 26
of the Companies Act 2006, Otto de Bont has resigned from his role as Chief
Executive Officer and as a director of Renewi. Renewi announced on 6 June 2025
that Otto de Bont had stepped down as CEO and that a successor will be
announced in due course.

Consequently, BidCo is updating the statement of intention made pursuant to
Rules 2.7(c)(viii) and 24.2 of the Code set out in its announcement of 13
February 2025 and the scheme document published on 28 February 2025 that it
intended to grant cash-based awards ("LTIP Retention Awards") to participants
(including Renewi executive directors) in Renewi's Long-Term Incentive Plan
("LTIP"). It has been agreed that as a result of his resignation, Otto de Bont
will no longer receive any LTIP Retention Awards. Accordingly, this
announcement is required under Rule 19.6(b) of the Code.

BidCo notes that, except as described above, the statements made in respect of
the LTIP Retention Awards will continue to otherwise apply.

Enquiries:

 

 Macquarie
 Helena Slater  +44 20 3037 4014

 BCI
 Olga Petrycki  +1 778 410 7310

 

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