Further re: River and Mercantile Group PLC

RNS Number : 2806Y

Premier Miton Group PLC

13 January 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

13 January 2022

Premier Miton Group plc

Premier Miton withdrawal from possible offer for River and Mercantile Group PLC

Premier Miton Group plc ("PMI") announces that, further to its statement on 23 November 2021 confirming that it had approached the Board of River and Mercantile Group PLC ("RMG") to explore potentially acquiring the entire issued and to be issued share capital of RMG, PMI will not be making any offer and has withdrawn from discussions.

Commenting on this, Mike O'Shea, PMI's Chief Executive said:

"We are most grateful to the Board of RMG for their co-operation and assistance as we have assessed the merits of a possible transaction, especially so given the major changes ongoing in their business. We have concluded that there are insufficient commercial merits for our shareholders to make a formal proposal for the acquisition of RMG. We wish the employees at RMG well for their future and we look forward with confidence to pursuing our own strategic plans for organic growth while at the same time exploring tactical and strategic opportunities that can further strengthen our business and accelerate our growth."

 -Ends-

Enquiries:

Premier Miton Group plc	Tel: [phone]
Mike O'Shea, Chief Executive Officer
Piers Harrison, Chief Financial Officer
Investec Bank plc (Financial Adviser, NOMAD & Broker)	Tel: [phone]
Bruce Garrow
Tom Lewin Sean Crookes Ben Griffiths Virginia Bull
Edelman Smithfield John Kiely Latika Shah	[phone] [phone]

The person responsible for making this announcement is Catriona Fletcher, Company Secretary.

Important notices and overseas shareholders

This communication is not intended to and does not constitute an offer to buy or the solicitation of an offer to subscribe for or sell 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 communication in whole or in part, directly or indirectly, in, into or from certain jurisdictions may be restricted by law and therefore persons in such jurisdictions should inform themselves about and observe such restrictions.

The 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 the restrictions may constitute a violation of the securities law of any such jurisdictions. To the fullest extent permitted by applicable law, the companies and persons involved in the possible offer disclaim any responsibility or liability for the violation of such requirements by any person.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise.

Investec Bank PLC ("Investec"), which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK, is acting as financial adviser exclusively for PMI and no one else in connection with the matters set out in this announcement and will not be responsible to any person other than PMI for providing the protections afforded to clients of Investec, nor for providing advice in relation to the content of this announcement or any matter referred to herein. Neither Investec nor any of its subsidiaries, branches or affiliates 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 Investec in connection with this announcement, any statement contained herein or otherwise.

 

END

 

 

FURBKBBBKBKBODD