I Squared Capital Advisors (UK) LLP Statement re FirstGroup plc (2155W)
August 16 2022 - 9:30AM
UK Regulatory
TIDMFGP
RNS Number : 2155W
I Squared Capital Advisors (UK) LLP
16 August 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION 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 IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE
ON TAKEOVERS AND MERGERS (THE "CODE").
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
16 August 2022
For immediate release
No intention to make an offer for FirstGroup plc
Further to the announcements made by FirstGroup plc
("FirstGroup") on 26 May 2022, 23 June 2022 and 21 July 2022, I
Squared Capital Advisors (UK) LLP ("I Squared") confirms that it
does not intend to make an offer for FirstGroup.
This announcement is made in accordance with Rule 2.8 of the
Code. As a result of this announcement, I Squared will, except with
the consent of the UK Panel on Takeovers and Mergers (the "Panel"),
be bound by the restrictions contained in Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, I Squared reserves the
right to set aside the restrictions in Rule 2.8 in the following
circumstances:
i. with the agreement or recommendation of the board of directors of FirstGroup;
ii. following the announcement of a firm intention to make an
offer for FirstGroup by or on behalf of a third party;
iii. following the announcement by FirstGroup of a Rule 9 waiver
proposal (as described in Note 1 on the Dispensations from Rule 9
of the Code) or a reverse takeover (as defined in the Code); or
iv. where the Panel has determined there has been a material change of circumstances.
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END
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