Update on possible offer: No intention to bid

RNS Number : 7789O

Marston's PLC

11 February 2021

 

11 February 2021
Marston's PLC

Update on possible offer: No intention to bid statement

The Board of Marston's PLC ("Marston's" or the "Company") notes the announcement by Platinum Equity Advisors, LLC ("Platinum") dated 11 February 2021, confirming that Platinum does not intend to make an offer for the Company.

The Board continues to believe that Marston's is well placed to benefit from the opportunities in a post-COVID 19 trading environment, following the completion of the SA Brain transaction and harnessing factors such as a reduction in on-trade industry supply, and increased home-working that will benefit pubs in suburban locations.

Marston's has a strengthened balance sheet following the creation of the synergistic joint venture with Carlsberg and significant cash headroom, enabling it to continue to absorb the impact of the temporary Government restrictions.

We welcome the continued nationwide rollout of the vaccine programme and look forward to rebuilding trading momentum once restrictions are lifted.

Enquiries:

Marston's PLC	Tel: [phone]
Ralph Findlay, CEO
Andrew Andrea, CFO
Instinctif Partners	Tel: [phone]
Justine Warren
Matthew Smallwood

 

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