Bluestar Group Statement regarding Home REIT plc (1596Z)
May 11 2023 - 11:56AM
UK Regulatory
TIDMHOME
RNS Number : 1596Z
Bluestar Group
11 May 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, 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")
For immediate release
11 May 2023
Statement regarding Home REIT PLC ("Home") by Bluestar Group
Limited ("Bluestar")
Further to the announcement on 10 May 2023 by Bluestar made in
relation to a possible offer for the entire issued and to be issued
share capital of Home for 40 pence per share in cash (the "Possible
Offer"), Bluestar today confirms it does not intend to make an
offer under Rule 2.7 of the Code.
Bluestar is highly disappointed that the Board has not granted
an extension to the PUSU deadline of 5.00 p.m. on 11 May 2023.
Bluestar continues to believe that this Board decision removes a
major element of optionality for shareholders and that the Possible
Offer would have provided a route to upfront liquidity at a
valuation level that Bluestar does not anticipate Home achieving in
the public markets in the medium term.
This is a statement to which Rule 2.8 of the Code applies.
Under Note 2 on Rule 2.8 of the Code, Bluestar reserves the
right to set the restrictions in Rule 2.8 aside in the following
circumstances:
i) with the agreement of the Board;
ii) following the announcement of a firm intention to make an
offer for Home by or on behalf of a third party;
iii) if Home announces a Rule 9 waiver (see Note 1 of the Notes
on Dispensations from Rule 9) or a reverse takeover (as defined in
the Code); and
iv) where the Panel on Takeovers and Mergers has determined that
there has been a material change of circumstances.
Enquiries:
Numis (Financial Adviser to Bluestar)
Hugh Jonathan +44 (0) 207 260 1000
Stuart Ord
Further information
Numis Securities Limited ("Numis"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority,
is acting exclusively for Bluestar and no one else in connection
with the matters set out in this announcement and will not regard
any other person as its client in relation to the matters in this
announcement and will not be responsible to anyone other than
Bluestar for providing the protections afforded to clients of
Numis, nor for providing advice in relation to any matter referred
to herein. Neither Numis nor any of its affiliates (nor any of
their respective directors, officers, employees or agents), 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 Numis in connection
with this announcement, any statement contained herein or
otherwise.
Ends
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END
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