Capital & Regional plc has extended the PUSU (Put Up or Shut Up) deadline regarding a potential offer from NewRiver REIT plc. The initial expression of interest was received by the majority shareholder, Growthpoint Properties Limited, on 23 May 2024. The PUSU Deadline was extended to 18 July 2024 to allow discussions to continue. NewRiver is now required to announce a firm intention to make an offer by 15 August 2024 or announce that it does not intend to make an offer.
The company emphasized that there is no certainty that any firm offer will be made, nor about the terms on which any offer might be made. Capital & Regional remains in an 'offer period' as per the rules of the Code, and shareholders are advised to adhere to the continuing disclosure requirements of Rule 8 of the Code.
The company provided contact information for enquiries and emphasized that the announcement does not constitute a firm intention to make an offer. It also highlighted that the release, publication, or distribution of the announcement in jurisdictions outside the United Kingdom may be restricted by law, and failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.
The disclosure requirements of the Code were also outlined, emphasizing the obligations of any person interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror. The announcement concluded with disclaimers from the financial advisers and a note that the announcement is not intended to constitute an offer to sell or the solicitation of an offer to subscribe for or buy securities.