Statement re Possible Offer

Crest Nicholson Holdings PLC

13 August 2024

 

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 THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. 

For immediate release                                                                                                                   

 13 August 2024

Crest Nicholson Holdings plc ("Crest Nicholson")

Statement regarding Possible Offer

The Board of Crest Nicholson Holdings plc ("Crest Nicholson") notes the recent announcement by Bellway p.l.c. ("Bellway") confirming that it does not intend to make a firm offer for Crest Nicholson under Rule 2.8 of the Takeover Code.

As previously announced, the Board of Crest Nicholson had engaged with Bellway in relation to a possible all-share offer for Crest Nicholson in response to a series of unsolicited proposals from Bellway.

As outlined in its half year results on 13 June 2024 for the period ended 30 April 2024, Crest Nicholson remains confident in its standalone prospects, in particular given conclusion of the review of provisions for completed development sites supported by external consultants, its highly attractive land portfolio and the new leadership of Martyn Clark.

This announcement has been made without the consent of Bellway.

The person responsible for arranging the release of this announcement on behalf of Crest Nicholson is Penny Thomas, Group Company Secretary.

Enquiries:

Crest Nicholson Holdings plc	[phone]
Bill Floydd (Group Finance Director) Jenny Matthews (Head of Investor Relations)
Teneo	[phone]
Financial communications adviser to Crest Nicholson
James Macey White Giles Kernick

Further information

This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.

The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.

Publication on website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at www.crestnicholson.com/investors promptly and in any event by no later than 12 noon on the business day following this announcement. The content of this website is not incorporated into and does not form part of this announcement.

 

END