WSP Global Inc. WSP has lapsed its Offer for Sweett (9193E)
22 Julho 2016 - 3:00AM
UK Regulatory
TIDMCSG
RNS Number : 9193E
WSP Global Inc.
22 July 2016
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 SUCH
JURISDICTION
FOR IMMEDIATE RELEASE
22 July 2016
OFFER
for
Sweett Group plc ("Sweett")
by
WSP Global Inc. ("WSP")
to be effected by means of a Scheme of Arrangement
under Part 26 of the Companies Act 2006
WSP has lapsed its Offer for Sweett
Further to WSP's recommended offer announcement for Sweett
released on 25 May 2016 (the "Offer"), the Scheme Document dated 8
June 2016 (the "Scheme Document") and the Supplementary Circular
dated 21 June 2016, WSP announces that it has lapsed its Offer.
On 24 June 2016, the boards of Sweett and Currie & Brown
Holdings Limited ("Currie & Brown") announced a recommended
cash offer at 42 pence per Sweet Share and the board of Sweett
announced that it had withdrawn its recommendation to Sweett
Shareholders to vote in favour of the Acquisition by WSP. In light
of this, the Chairman of each of the Court Meeting and the General
Meeting scheduled for 29 June 2016 adjourned the meetings.
On 30 June 2016, the board of WSP confirmed that its Offer of 35
pence per Sweett Share was final, and that this Offer would not be
increased.
As set out in the Scheme Document, the Offer would lapse if the
Court Meeting and General Meeting were not held on or before 21
July 2016 being the 22(nd) day after the expected date of such
Meetings (the expected date in the Scheme Document for these
Meetings was 29 June 2016).
Therefore as the Court Meeting and General Meeting have not been
held on or before 21 July 2016, WSP, with the consent of the
Takeover Panel, has lapsed its Offer.
WSP will now be subject to Rule 35.1 of the Code, save that it
reserves the right, with the consent of the Takeover Panel, to
approach Sweett with respect to a possible offer in the event that
Currie & Brown's offer for Sweett is withdrawn, lapses or does
not otherwise complete.
Capitalised terms in this announcement, unless otherwise
defined, have the same meaning given to them in the Scheme
Document.
Enquiries:
WSP Global Inc.
Pierre Shoiry - Chief Executive
Officer +1 (514) 340
Alexandre L'Heureux - Chief 0046
Financial Officer and incoming +1 (514) 340
CEO 0046
Isabelle Adjahi - Vice President, +1 (514) 340
Investor Relations and Corporate 0046
Communications
Paul Dollin - Chief Operating +44 (0) 20 7314
Officer 5000
Opus Corporate Finance LLP (WSP's
Financial Adviser)
+44 (0) 20 7025
Malcolm Strang 3600
Opus, which is authorised and regulated in the United Kingdom by
the Financial Conduct Authority, is acting exclusively for WSP and
no one else in connection with the Acquisition and the other
matters referred to in this announcement and the Scheme Document
and will not be responsible to anyone other than WSP for providing
the protections afforded to clients of Opus or for providing advice
in connection with the Acquisition or any matter or arrangement
referred to herein.
A copy of this announcement will be available free of charge,
subject to certain restrictions relating to persons resident in
Restricted Jurisdictions, on the investor relations section of WSP
at www.wsp-pb.com by no later than 12.00 noon (London time) on the
Business Day following this announcement. The contents of WSP's
website nor those of any other website accessible from hyperlinks
on WSP's website, are incorporated into or form part of this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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