TIDMTED
RNS Number : 9129N
Ted Baker PLC
07 June 2022
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 OF
SUCH JURISDICTION.
THIS IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER
UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE
"CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE,
NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE RELEASE
7 June 2022
Ted Baker PLC
Update on Formal Sale Process
The Board of Ted Baker PLC ("Ted Baker" or the "Company")
announces an update on its formal sale process.
On 23 May 2022, the Company announced that the Board had
selected a preferred counterparty to take forward into a process of
confirmatory due diligence.
The Board was informed by the preferred counterparty last night
that it did not intend to proceed with an offer for the Company.
The counterparty indicated that its reason for not proceeding was
not linked to its due diligence review of the Company.
As announced on 23 May, the Board received a number of other
non-binding proposals. The Board will now determine whether to
proceed with any of those proposals.
There can be no certainty that an offer will be made, nor as to
the terms on which any offer will be made. Further announcements
regarding the formal sale process will be made when
appropriate.
The Board of Ted Baker reserves the right to alter or terminate
the process at any time and in such cases will make an announcement
as appropriate. The Board of Ted Baker also reserves the right to
reject any approach or terminate discussions with any interested
party at any time.
As previously communicated, the Panel has granted a dispensation
from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the
Code such that any interested party participating in the formal
sale process will not be required to be publicly identified under
Rules 2.4(a) or 2.4(b) and will not be subject to the 28-day
deadline referred to in Rule 2.6(a) of the Code for so long as it
is participating in the formal sale process.
Enquiries:
Tulchan Communications
Jonathan Sibun
Jessica Reid +44 (0)20 7353 4200
Evercore (Financial Adviser to Ted Baker
)
Ed Banks
Julien Baril +44 (0)20 7653 6000
Blackdown Partners (Financial Adviser to
Ted Baker)
Peter Tracey +44 (0) 203 807
Tom Fyson 8484
Liberum (Joint Broker to Ted Baker)
Richard Crawley +44 (0) 20 3100
Jamie Richards 2000
Panmure (Joint Broker to Ted Baker)
Oliver Cardigan +44 (0) 0207 886
Rupert Dearden 2500
In accordance with Rule 26.1 of the City Code on Takeovers and
Mergers, a copy of this announcement will, subject to certain
restrictions relating to persons resident in restricted
jurisdictions, be available at
https://www.tedbakerplc.com/investor-relations . The person
responsible for arranging for the release of this announcement on
behalf of Ted Baker is Rishi Sharma, Group General Counsel and
Company Secretary. For the avoidance of doubt, the content of the
website referred to above is not incorporated into and does not
form part of this announcement.
MAR
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
ABOUT TED BAKER
Ted Baker is a global lifestyle brand distributing across five
continents through its three main distribution channels: retail
(including eCommerce); wholesale; and licensing.
Ted Baker has 375 stores and concessions worldwide, comprising
92 in the UK, 81 in Europe, 95 in North America, 96 in the Middle
East, Africa and Asia, and 11 in Australasia.
We offer a wide range of collections including Menswear;
Womenswear; Accessories; Bedding; Childrenswear; Eyewear; Footwear;
Fragrance and Skinwear; Gifting and Stationery; Jewellery;
Lingerie, Underwear and Sleepwear; Luggage; Neckwear; Rugs;
Suiting; Technical Accessories; Towels; Wallcoverings; and
Watches.
OTHER NOTICES
This announcement is not intended to and does not constitute an
offer to buy or the solicitation of an offer to subscribe for or
sell or an invitation to purchase or subscribe for any securities
or the solicitation of any vote in any jurisdiction. The release,
publication or distribution of this announcement in whole or in
part, directly or indirectly, in, into or from certain
jurisdictions may be restricted by law and therefore persons in
such jurisdictions should inform themselves about and observe such
restrictions.
Evercore Partners International LLP ("Evercore"), which is
authorised and regulated by the Financial Conduct Authority in the
UK, is acting exclusively as financial adviser to Ted Baker and no
one else in connection with the matters described in this
announcement and will not be responsible to anyone other than Ted
Baker for providing the protections afforded to clients of Evercore
nor for providing advice in connection with the matters referred to
herein. Neither Evercore nor any of its subsidiaries, branches or
affiliates 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 Evercore in connection with this announcement, any statement
contained herein, any offer or otherwise. Apart from the
responsibilities and liabilities, if any, which may be imposed on
Evercore by the Financial Services and Markets Act 2000 and
successor legislation, or the regulatory regime established
thereunder, or under the regulatory regime of any jurisdiction
where exclusion of liability under the relevant regulatory regime
would be illegal, void or unenforceable, neither Evercore nor any
of its affiliates accepts any responsibility or liability
whatsoever for the contents of this announcement, and no
representation, express or implied, is made by it, or purported to
be made on its behalf, in relation to the contents of this
announcement, including its accuracy, completeness or verification
of any other statement made or purported to be made by it, or on
its behalf, in connection with Ted Baker or the matters described
in this document. To the fullest extent permitted by applicable
law, Evercore and its affiliates accordingly disclaim all and any
responsibility or liability whether arising in tort, contract or
otherwise (save as referred to above) which they might otherwise
have in respect of this announcement or any statement contained
herein.
Blackdown Partners Limited ("Blackdown"), which is authorised
and regulated by the Financial Conduct Authority in the UK, is
acting exclusively as financial adviser to Ted Baker and no one
else in connection with the matters described in this announcement
and will not be responsible to anyone other than Ted Baker for
providing the protections afforded to clients of Blackdown nor for
providing advice in connection with the matters referred to herein.
Neither Blackdown nor any of its subsidiaries, branches or
affiliates 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 Blackdown in connection with this announcement, any statement
contained herein, any offer or otherwise. Apart from the
responsibilities and liabilities, if any, which may be imposed on
Blackdown by the Financial Services and Markets Act 2000, or the
regulatory regime established thereunder, or under the regulatory
regime of any jurisdiction where exclusion of liability under the
relevant regulatory regime would be illegal, void or unenforceable,
neither Blackdown nor any of its affiliates accepts any
responsibility or liability whatsoever for the contents of this
announcement, and no representation, express or implied, is made by
it, or purported to be made on its behalf, in relation to the
contents of this announcement, including its accuracy, completeness
or verification of any other statement made or purported to be made
by it, or on its behalf, in connection with Ted Baker or the
matters described in this document. To the fullest extent permitted
by applicable law, Blackdown and its affiliates accordingly
disclaim all and any responsibility or liability whether arising in
tort, contract or otherwise (save as referred to above) which they
might otherwise have in respect of this announcement or any
statement contained herein.
Liberum Capital Limited ("Liberum"), which is authorised and
regulated by the Financial Conduct Authority in the United Kingdom,
is acting exclusively for Ted Baker and for no one else in
connection with the subject matter of this announcement and will
not be responsible to anyone other than Ted Baker for providing the
protections afforded to its clients or for providing advice in
connection with the subject matter of this announcement.
Panmure Gordon (UK) Limited ("Panmure Gordon"), which is
authorised and regulated by the Financial Conduct Authority in the
United Kingdom, is acting exclusively for Ted Baker and no one else
in connection with the possible offer and will not be responsible
to anyone other than Ted Baker for providing the protections
afforded to clients of Panmure Gordon nor for providing advice in
relation to the possible offer or any other matters referred to in
this announcement. Neither Panmure Gordon nor any of its affiliates
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 Panmure
Gordon in connection with this announcement, any statement
contained herein or otherwise.
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END
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