Praxis Group Limited has announced that it is considering a potential cash offer for the entire issued and to be issued share capital of Capital & Regional plc. Praxis is a privately owned, vertically-integrated property investment and management business, specializing in shopping centers in the UK. The company focuses on unlocking value through active asset management and has a strong emphasis on environmental, social, and governance (ESG) factors.
According to the announcement, Praxis must either announce a firm intention to make an offer for Capital & Regional or declare that it does not intend to make an offer by 16th August 2024. The company reserves the right to introduce other forms of consideration and/or vary the form and/or mix of the consideration. Praxis has provided contact information for further inquiries.
The announcement also includes disclosure requirements of the Code, stating that any person interested in 1% or more of any class of relevant securities of an offeree company must make an Opening Position Disclosure. Additionally, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror.
The announcement concludes with details of where to find further information and whom to contact for any doubts regarding the disclosure requirements of the Code.
This announcement provides insight into Praxis Group Limited's potential offer for Capital & Regional plc, shedding light on the considerations and requirements involved in such a transaction.