LSL Property Services PLC Rule 2.8 Announcement (1903G)

TIDMLSL

RNS Number : 1903G

LSL Property Services PLC

16 March 2020

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

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

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

16 March 2020

LSL Property Services plc

Statement regarding Countrywide plc ("Countrywide")

On 24 February LSL Property Services plc ("LSL") and Countrywide each confirmed they were in discussions regarding a possible all share combination.

LSL today confirms that it does not intend to make an offer for Countrywide.

This is a statement to which Rule 2.8 of the Code applies.

Under Note 2 on Rule 2.8 of the Code, LSL, and any person acting in concert with LSL, reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances: (i) with the agreement of the board of Countrywide; (ii) if a third party announces a firm intention to make an offer for Countrywide; (iii) if Countrywide announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and (iv) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).

The person responsible for arranging release of this announcement on behalf of LSL is Sapna B Fitzgerald, Company Secretary.

Enquiries:

 
 LSL Property Services plc                                                                     +44 (0)207 382 0360 
 Ian Crabb, Group Chief Executive 
  Officer 
 Adam Castleton, Group Chief 
  Financial Officer

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