Vukile Property Fund Limited has announced that it does not intend to make an offer for Capital & Regional plc. This decision comes after engaging with Capital & Regional's largest shareholder, Growthpoint Properties Limited, to evaluate the potential terms and structure of a possible offer. However, Vukile has not been able to reach an agreement with Growthpoint and therefore confirms that it does not intend to make an offer under Rule 2.7 of the UK City Code on Takeovers and Mergers.
Vukile reserves the right to announce or participate in an offer or possible offer for Capital & Regional and/or to take any other action within 6 months after the date of this announcement under certain circumstances. This includes with the consent of the Board of Capital & Regional, if a third party announces a firm intention to make an offer for Capital & Regional, if Capital & Regional announces a Rule 9 waiver proposal, or if the Panel determines there has been a material change of circumstances.
The announcement also includes important information regarding the distribution of the announcement in jurisdictions outside the United Kingdom, emphasizing that it may be restricted by law and advising individuals to inform themselves about and observe such restrictions.
For further information, the contact details for Vukile Property Fund Limited and BofA Securities, the financial adviser to Vukile, are provided in the announcement.