Kelsian Group Limited Statement re The Go-Ahead Group plc (2244T)
July 21 2022 - 2:00AM
UK Regulatory
TIDMGOG
RNS Number : 2244T
Kelsian Group Limited
21 July 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 OF SUCH
JURISDICTION.
ANNOUNCEMENT UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND
MERGERS (THE "CODE")
FOR IMMEDIATE RELEASE
21 July 2022
Kelsian Group Limited
Statement regarding The Go-Ahead Group Plc
Further to previous announcements on 14 June 2022 and 11 July
2022 in relation to consideration by Kelsian Group Limited
("Kelsian") of a possible offer for the entire issued and to be
issued share capital of The Go-Ahead Group Plc (" Go-Ahead "),
Kelsian confirms t hat it is not intending to make an offer for
Go-Ahead.
On 14 June 2022 Kelsian confirmed it was in preliminary
discussions with Go-Ahead in relation to a possible proposal to
acquire all of the issued and to be issued share capital of
Go-Ahead. Go-Ahead holds an established position in UK bus and rail
markets, while Kelsian is a market leader in Australian bus and
ferry services with established operations in Singapore and joint
venture bus operations in London.
Kelsian is always considering growth opportunities and would
only pursue an opportunity that is strategically and financially
attractive for its shareholders, as well as aligning with Kelsian's
business model and operating culture. Kelsian has a track record of
successfully acquiring, integrating and growing Australian and
international businesses.
Unfortunately, recent Australian equity markets have been
volatile and external events have adversely impacted the Kelsian
share price since 14 June 2022 when Kelsian first announced it was
considering a possible offer for Go-Ahead. The Kelsian Board
consider that Australian equity market conditions at this time do
not enable Kelsian to pursue a possible transaction for Go-Ahead
despite the long-term strategic and economic rationale of the
potential transaction for Kelsian.
This is a statement to which Rule 2.8 of the Code applies.
Under Note 2 on Rule 2.8 of the Code, Kelsian reserves the right
to announce an offer or possible offer or make or participate in an
offer or possible offer for Go-Ahead or to take any other action
which would otherwise be restricted under Rule 2.8 of the Code
within six months following the date of this announcement in the
following circumstances:
(i) in the event that the offer by Gerrard Investment Bidco
Limited for Go-Ahead is withdrawn or lapses, with the agreement of
the board of Go-Ahead;
(ii) if a third party announces a firm intention to make an offer for Go-Ahead;
(iii) if Go-Ahead announces a Rule 9 waiver proposal (see Note 1
of the Notes on Dispensations from Rule 9 of the Code) or a reverse
takeover (as defined in the Code); or
(iv) if there has been a material change of circumstances (as
determined by the UK Panel on Takeovers and Mergers).
For further information contact the following:
------------------------------------------------------------------------------
Investor Relations Andrew Muir, Chief Financial Officer
+61 (0)8 8202 8693
investors@kelsian.com
================== ==========================================================
Media (UK) FGS Global
James Murgatroyd
Chris Ryall
+44 (0)20 7251 3801
================== ==========================================================
Media (Australia) Citadel Magnus
James Strong +61(0)448 881 174, jstrong@citadelmagnus.com
Jack Gordon +61(0)478 060 362; jgordon@citadelmagnus.com
================== ==========================================================
Disclaimer
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise.
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the United Kingdom may be restricted by law and therefore persons
into whose possession this announcement comes should inform
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