Merger Update

RNS Number : 7962I

Worthington Group PLC

11 December 2015

 



Worthington Group plc ("the Company" or "Worthington")

11^th December 2015

FOR IMMEDIATE RELEASE

Update in relation to possible merger

Pursuant to rule 2.6 (c) of the City Code on Takeovers and Mergers (the "Code"), the Company has requested a 28 day extension to the period of time whereby Nuna Minerals A/S ("Nuna") must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an offer for the Company, or announce that it does not intend to make an offer. The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 8th January 2016. 

The Company understands that progress is continuing to be made in relation to the proposed refinancing of Nuna by Greenland Mining Management Ltd, and that at the General Meeting of Nuna on 25^th November 2015 the shareholders of Nuna approved the re-financing proposals.

There can be no certainty that these discussions will lead to an offer being made for the Company, nor as to the terms on which any offer may be made.

About Worthington Group Plc ("Worthington")

Worthington (Stock Exchange LSE: WRN) is a British investment company that  celebrates its 61st anniversary as a London Stock Exchange main market listed company this year. The Company has four areas of investment focus: property, litigation claims, new economy and emerging markets. The Company believes that exceptional shareholder returns can be achieved by utilising its main market Sterling paper to acquire investments in these sectors worldwide.

Note: Forward-looking statements contained in this announcement, including Worthington's strategy and plans, as well as expectations for future revenue and earnings, reflect Worthington's   current views and assumptions with respect to future events and are subject to certain risks, uncertainties and assumptions. There are many factors that may cause actual results achieved to differ materially from expectations for future results and expectations that may be expressed in or form an assumption of such forward-looking statements. Such factors include risks related to the day to day business of Worthington, client volatility, sales fluctuations, the general economic climate, political and environment and  other risks,  cancellations,  software failures and interruption to service to customers due to technical problems, acquisition delays  and failure as well as other uncertainties related to the results of Worthington including risks of delays or closure of projects, price falls, currency fluctuations and changes in contract terms, legislation and administrative practices, as well as competition risk and other unforeseen factors. If one or more of such risks or factors of uncertainty were to materialise, or should one or more of the statements provided prove to be incorrect, actual developments may differ materially from the forward-looking statements contained in this announcement.

Enquiries:

Media information                                                                     Tel: [phone]

or email: [e-mail]

PD Cosec - Company Secretary                                                 Tel: [phone]

Website: www.worthingtongroupplc.com

 

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