PrimeStone Capital Smart Metering Sys - Statement re offer
21/12/2023 07:00
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RNS Number : 5344X PrimeStone Capital LLP 21 December 2023
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FOR IMMEDIATE RELEASE
21 December 2023
Smart Metering Systems plc
Statement by Primestone Capital LLP ("PrimeStone"), Alan Foy and Steve Timoney
(together the "Founders")
Long-term shareholder PrimeStone and the Founders are collectively interested
in or are able to control the voting rights in respect of 23,827,659 ordinary
shares in Smart Metering Systems plc ("SMS"), representing approximately 17.8%
of SMS's issued share capital.
PrimeStone and the Founders noted the announcement of the cash offer for SMS
by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates
of 955 pence in cash (the "Offer" and the "Offer Price").
PrimeStone and the Founders are disappointed with the Offer Price and intend
to vote against (or procure the exercise of relevant voting rights against)
the Offer.
Enquiries:
info@primestonecapital.com (mailto:info@primestonecapital.com)
For more information on PrimeStone Capital LLP:
http://www.primestonecapital.com/ (http://www.primestonecapital.com/)
Schedule of holdings:
Name Number of shares % of issued share capital
PrimeStone Capital LLP 13,075,114 9.79%
Metis Investment Management Ltd 4,680,851 3.50%
Metis Investments Ltd 372,350 0.28%
The Metis Trust 715,000 0.54%
Lochlane Investments Limited 4,984,344 3.73%
N. M. Rothschild & Sons Limited ("Rothschild & Co"), which is
authorised and regulated in the United Kingdom by the Financial Conduct
Authority, is acting exclusively for PrimeStone in connection with the matters
set out in this announcement and for no one else and will not be responsible
to anyone other than PrimeStone for providing the protections afforded to its
clients nor for providing advice in relation to the matters set out in this
announcement. Neither Rothschild & Co nor any of its subsidiaries,
branches or affiliates and their respective directors, officers, employees or
agents 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 Rothschild & Co in
connection with this announcement, any statement contained herein or
otherwise.
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