TIDMLOAD
RNS Number : 4626Q
Crestchic PLC
20 February 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
20 February 2023
Crestchic Plc
("Crestchic", the "Company" or the "Group")
Sanction of the Scheme
Exercise of Options
Issue of Equity
Directors/PDMRs Dealings
and
Rule 2.9 Announcement
Sanction of the Scheme
Further to its announcement on 6 February 2023, Crestchic plc,
the power reliability company, is pleased to announce that the High
Court of Justice in England and Wales has today issued a Court
Order sanctioning the Scheme under section 899 of the Companies
Act.
The Scheme will become Effective upon the delivery of a copy of
the Court Order to the Registrar of Companies, which is expected to
occur on 22 February 2023.
Next steps and timetable
Crestchic confirms that the Scheme Record Time will be 6.00 p.m.
on 21 February 2023. Scheme Shareholders on Crestchic's register of
members at the Scheme Record Time will, upon the Scheme becoming
Effective, be entitled to receive 401 pence in cash for each
Crestchic Share. The last day for dealings in, and for registration
of transfers of, and disablement of CREST for, Crestchic Shares is
expected to be on 21 February 2023.
As announced on 6 February 2023, the suspension of listing of,
and dealings in, Crestchic Shares on AIM is expected to take effect
from 7.30 a.m. on 22 February 2023. It is expected that the
cancellation of admission to trading of Crestchic Shares on AIM
will take effect from 7.00 a.m. on 23 February 2023.
A further announcement will be made when the Scheme has become
Effective.
Exercise of Options and Issue of Equity
Following the sanction by the Court of the Scheme, 2,062,750 new
ordinary shares of GBP0.10 each in the capital of the Company
("Ordinary Shares") have been issued and allotted (conditional on
Admission) and a further 100,000 Ordinary Shares have been
transferred out of Treasury as a result of the exercise of share
options and vesting of awards held by employees (including certain
directors) (the "New Ordinary Shares"). Accordingly, application
has been made for the New Ordinary Shares to be admitted to trading
on AIM of the London Stock Exchange which is expected to take place
on 21 February 2023 ("Admission").
In connection with the above exercise of options and vesting of
awards, the Board has been notified that the following directors /
PDMRs received Ordinary Shares as detailed below.
Previous New Ordinary Shareholding
Director / PDMR Shareholding* % Shares on Admission* %
Peter Harris 1,624,460 5.76% 375,000 1,999,460 6.59%
Iwan Phillips 20,000 0.07% 438,000 458,000 1.51%
Christopher Caldwell 24,140 0.05% 499,000 523,140 1.72%
Stephen Yapp 40,000 0.14% 105,000 145,000 0.48%
Nitin Kaul - 0.00% 82,500 82,500 0.27%
Judith Aldersey-Williams 20,051 0.07% 82,500 102,551 0.34%
*Includes close relatives
In addition, on 21 February 2023, certain directors / PDMRs will
transfer Ordinary Shares for nil-cost on a no gain no loss basis to
their spouse, as set out below, which resulted in no change to
their beneficial holding in the Company as previously set out:
Ordinary
Director / PDMR Shares Transferred Spouse
Peter Harris 12,000 Karen Harris
Iwan Phillips 20,000 Laura Phillips
Christopher Caldwell 20,000 Michelle Caldwell
In accordance with Rule 2.9 of the City Code on Takeovers and
Mergers (the "Code"), on Admission, the Company will have in issue
30,358,803 Ordinary Shares (excluding 1,360,150 Ordinary Shares
held in treasury) of 10 pence each. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules. The
International Securities Identification Number (ISIN) for the
Company's ordinary shares is GB00B0SPFW38.
Unless otherwise defined, capitalised terms in this announcement
have the same meaning as in the Rule 2.7 Announcement published on
8 December 2022.
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 which has effect in English law by virtue of the European
Union (Withdrawal) Act 2018 (the Market Abuse Regulation).
1 Details of the person discharging managerial responsibilities/person
closely associated
------------------------------------------------------------------------------------
a) Name Peter Harris
---- -------------------------- --------------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------------
a) Position/status Executive Chairman
---- -------------------------- --------------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------------------
a) Name Crestchic plc
---- -------------------------- --------------------------------------------------------
b) LEI 213800XMAXXK3RWOIB90
---- -------------------------- --------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---- ------------------------------------------------------------------------------------
a) Description of Ordinary shares of 10 pence
the financial
instrument, type
of instrument
----
Identification GB00B0SPFW38
code
---- -------------------------- --------------------------------------------------------
b) Nature of the Acquisition of Ordinary Shares on vesting of
transaction awards under the Company's Long Term Incentive
Plan and transfer of Ordinary Shares
---- -------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Nature Price(s) Volume(s)
----------
Acquisition
of Ordinary
Shares on the 2,500 A ordinary
vesting of shares in Crestchic
LTIP Award (UK) Limited 375,000
------------------ ---------------------- ----------
Transfer of
Ordinary Shares
to Spouse GBPnil 12,000
------------------ ---------------------- ----------
---- -------------------------- --------------------------------------------------------
d) Aggregated information
* Aggregated volume As above
* Price
---- -------------------------- --------------------------------------------------------
e) Date of the transaction 20 February 2023
---- -------------------------- --------------------------------------------------------
f) Place of the transaction N/A
---- -------------------------- --------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
---------------------------------------------------------------------------------------
a) Name Iwan Phillips
---- -------------------------- -----------------------------------------------------------
2 Reason for the notification
---- ---------------------------------------------------------------------------------------
a) Position/status Finance Director
---- -------------------------- -----------------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- -----------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ---------------------------------------------------------------------------------------
a) Name Crestchic plc
---- -------------------------- -----------------------------------------------------------
b) LEI 213800XMAXXK3RWOIB90
---- -------------------------- -----------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---- ---------------------------------------------------------------------------------------
a) Description of Ordinary shares of 10 pence
the financial
instrument, type
of instrument
----
Identification GB00B0SPFW38
code
---- -------------------------- -----------------------------------------------------------
b) Nature of the Acquisition of Ordinary Shares on vesting of
transaction awards under the Company's Long Term Incentive
Plan; Acquisition of Ordinary Shares on exercise
of options under the Company's Share Option
Plan; and transfer of Ordinary Shares
---- -------------------------- -----------------------------------------------------------
c) Price(s) and volume(s) Nature Price(s) Volume(s)
----------
Acquisition
of Ordinary
Shares on the 2,000 A Ordinary
vesting of shares in Crestchic
LTIP Award (UK) Limited 300,000
--------------------- ---------------------- ----------
Acquisition
of Ordinary
Shares on exercise
of Options GBP222,100 138,000
--------------------- ---------------------- ----------
Transfer of
Ordinary Shares
to Spouse GBPnil 20,000
--------------------- ---------------------- ----------
---- -------------------------- -----------------------------------------------------------
d) Aggregated information
* Aggregated volume As above
* Price
---- -------------------------- -----------------------------------------------------------
e) Date of the transaction 20 February 2023
---- -------------------------- -----------------------------------------------------------
f) Place of the transaction N/A
---- -------------------------- -----------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
---------------------------------------------------------------------------------------
a) Name Christopher Caldwell
---- -------------------------- -----------------------------------------------------------
2 Reason for the notification
---- ---------------------------------------------------------------------------------------
a) Position/status Managing Director
---- -------------------------- -----------------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- -----------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ---------------------------------------------------------------------------------------
a) Name Crestchic plc
---- -------------------------- -----------------------------------------------------------
b) LEI 213800XMAXXK3RWOIB90
---- -------------------------- -----------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---- ---------------------------------------------------------------------------------------
a) Description of Ordinary shares of 10 pence
the financial
instrument, type
of instrument
----
Identification GB00B0SPFW38
code
---- -------------------------- -----------------------------------------------------------
b) Nature of the Acquisition of Ordinary Shares on vesting of
transaction awards under the Company's Long Term Incentive
Plan; Acquisition of Ordinary Shares on exercise
of options under the Company's Share Option
Plan; and transfer of Ordinary Shares
---- -------------------------- -----------------------------------------------------------
c) Price(s) and volume(s) Nature Price(s) Volume(s)
----------
Acquisition
of Ordinary
Shares on the 2,000 A Ordinary
vesting of shares in Crestchic
LTIP Award (UK) Limited 300,000
--------------------- ---------------------- ----------
Acquisition
of Ordinary
Shares on exercise
of Options GBP346,160.94 199,000
--------------------- ---------------------- ----------
Transfer of
Ordinary Shares
to Spouse GBPnil 20,000
--------------------- ---------------------- ----------
---- -------------------------- -----------------------------------------------------------
d) Aggregated information
* Aggregated volume As above
* Price
---- -------------------------- -----------------------------------------------------------
e) Date of the transaction 20 February 2023
---- -------------------------- -----------------------------------------------------------
f) Place of the transaction N/A
---- -------------------------- -----------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
------------------------------------------------------------------------------------
a) Name Stephen Yapp
---- -------------------------- --------------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
---- -------------------------- --------------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------------------
a) Name Crestchic plc
---- -------------------------- --------------------------------------------------------
b) LEI 213800XMAXXK3RWOIB90
---- -------------------------- --------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---- ------------------------------------------------------------------------------------
a) Description of Ordinary shares of 10 pence
the financial
instrument, type
of instrument
----
Identification GB00B0SPFW38
code
---- -------------------------- --------------------------------------------------------
b) Nature of the Acquisition of Ordinary Shares on vesting of
transaction awards under the Company's Long Term Incentive
Plan
---- -------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Nature Price(s) Volume(s)
----------
Acquisition of
Ordinary Shares 700 A Ordinary
on the vesting shares in Crestchic
of LTIP Award (UK) Limited 105,000
------------------ ---------------------- ----------
---- -------------------------- --------------------------------------------------------
d) Aggregated information
* Aggregated volume As above
* Price
---- -------------------------- --------------------------------------------------------
e) Date of the transaction 20 February 2023
---- -------------------------- --------------------------------------------------------
f) Place of the transaction N/A
---- -------------------------- --------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
------------------------------------------------------------------------------------
a) Name Nitin Kaul
---- -------------------------- --------------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
---- -------------------------- --------------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------------------
a) Name Crestchic plc
---- -------------------------- --------------------------------------------------------
b) LEI 213800XMAXXK3RWOIB90
---- -------------------------- --------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---- ------------------------------------------------------------------------------------
a) Description of Ordinary shares of 10 pence
the financial
instrument, type
of instrument
----
Identification GB00B0SPFW38
code
---- -------------------------- --------------------------------------------------------
b) Nature of the Acquisition of Ordinary Shares on vesting of
transaction awards under the Company's Long Term Incentive
Plan
---- -------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Nature Price(s) Volume(s)
----------
Acquisition of
Ordinary Shares 550 A Ordinary
on the vesting shares in Crestchic
of LTIP Award (UK) Limited 82,500
------------------ ---------------------- ----------
---- -------------------------- --------------------------------------------------------
d) Aggregated information
* Aggregated volume As above
* Price
---- -------------------------- --------------------------------------------------------
e) Date of the transaction 20 February 2023
---- -------------------------- --------------------------------------------------------
f) Place of the transaction N/A
---- -------------------------- --------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
------------------------------------------------------------------------------------
a) Name Judith Aldersey-Williams
---- -------------------------- --------------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
---- -------------------------- --------------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------------------
a) Name Crestchic plc
---- -------------------------- --------------------------------------------------------
b) LEI 213800XMAXXK3RWOIB90
---- -------------------------- --------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---- ------------------------------------------------------------------------------------
a) Description of Ordinary shares of 10 pence
the financial
instrument, type
of instrument
----
Identification GB00B0SPFW38
code
---- -------------------------- --------------------------------------------------------
b) Nature of the Acquisition of Ordinary Shares on vesting of
transaction awards under the Company's Long Term Incentive
Plan
---- -------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Nature Price(s) Volume(s)
----------
Acquisition of
Ordinary Shares 550 A Ordinary
on the vesting shares in Crestchic
of LTIP Award (UK) Limited 82,500
------------------ ---------------------- ----------
---- -------------------------- --------------------------------------------------------
d) Aggregated information
* Aggregated volume As above
* Price
---- -------------------------- --------------------------------------------------------
e) Date of the transaction 20 February 2023
---- -------------------------- --------------------------------------------------------
f) Place of the transaction N/A
---- -------------------------- --------------------------------------------------------
For further information
Crestchic Tel: +44 (0)128353
Peter Harris, Executive Chairman 1645
Iwan Phillips, Finance Director
Amy Avery, Company Secretary & Legal Counsel
Smith Square Partners , financial adviser Tel: +44 (0)203696
to Crestchic 7260
John Craven, Angus Grierson and Paul Baines
Shore Capital , Nominated Adviser and Tel: +44 (0)207408
broker to Crestchic 4050
Robert Finlay, David Coaten and Henry
Willcocks
Buchanan Communications Ltd , public Tel: +44 (0)207466
relations adviser to Crestchic 5000
Charles Ryland and Stephanie Whitmore
About Crestchic:
Crestchic Plc hires and sells specialist industrial equipment.
With offices or agents in the UK, USA, The Middle East, Belgium,
Germany, France, Singapore, China and South Korea, Crestchic has a
global customer base. This includes utility companies, renewables,
the oil and gas sector, data centres, shipping, banking, mining,
construction and the public sector. The product range includes
loadbanks and transformers. Crestchic was admitted to AIM in 2006
since when it has grown by providing a high level of service,
responsiveness and flexibility to customers.
IMPORTANT NOTICES
Smith Square Partners, which is authorised and regulated by the
FCA in the United Kingdom, is acting exclusively for Crestchic and
no one else in connection with the Offer and will not be
responsible to anyone other than Crestchic for providing the
protections afforded to clients of Smith Square Partners, or for
providing advice in connection with the Offer or any matter
referred to herein. Neither Smith Square Partners 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 Smith Square Partners in connection with this announcement, any
statement contained herein or otherwise.
Shore Capital which is authorised and regulated in the UK by the
FCA is acting for Crestchic and no one else in connection with the
Offer and does not regard any other person as its client, nor will
it be responsible to any other person for providing the protections
afforded to clients of Shore Capital or for providing advice in
relation to the contents of this announcement or any other matter
referred to herein.
This announcement is for information purposes only and is not
intended to, and does not constitute, or form part of any offer,
invitation, inducement or the solicitation of an offer to purchase,
otherwise acquire, subscribe for, sell or otherwise dispose of or
exercise rights in respect of any securities or the solicitation of
any vote or approval in any jurisdiction pursuant to the Offer or
otherwise. The Offer will be made solely through the Scheme
Document and the accompanying Forms of Proxy (or by any other
document by which the Offer is made), which will together contain
the full terms and conditions of the Offer, including details of
how to vote in respect of the Offer. Any decision in respect of, or
other response to, the Offer should be made only on the basis of
the information contained in the Scheme Document or any document by
which the Offer is made.
This Announcement has been prepared in connection with proposals
in relation to a scheme of arrangement pursuant to and for the
purpose of complying with English law and City Code on Takeovers
and Mergers (the "Code") and information disclosed may not be the
same as that which would have been disclosed if this Announcement
had been prepared in accordance with the laws of jurisdictions
outside England. Nothing in this Announcement should be relied on
for any other purpose.
Overseas Jurisdictions
The release, publication, or distribution of this Announcement
in or into certain jurisdictions other than the United Kingdom may
be restricted by the laws of those jurisdictions and therefore any
persons into whose possession this Announcement comes should inform
themselves of and observe such restrictions. Further details in
relation to the Overseas Shareholders are contained in the Scheme
Document. Any failure to comply with any such restrictions may
constitute a violation of the securities laws of any such
jurisdiction. To the fullest extent permitted by applicable law,
the companies and persons involved in the Offer disclaim any
responsibility or liability for the violation of such restrictions
by any person.
Unless otherwise determined by Aggreko or required by the Code,
and permitted by applicable law and regulation, the Offer shall not
be made available, directly or indirectly, in, into or from a
Restricted Jurisdiction where to do so would violate the laws in
that jurisdiction and no person may vote in favour of the Scheme by
any such means from within a Restricted Jurisdiction or any other
jurisdiction if to do so would constitute a violation of the laws
of that jurisdiction. Accordingly, copies of this Announcement and
all documents relating to the Offer are not being, and must not be,
directly or indirectly, mailed or otherwise forwarded, distributed
or sent in, into or from a Restricted Jurisdiction where to do so
would violate the laws in that jurisdiction, and persons receiving
this Announcement and all documents relating to the Offer
(including custodians, nominees and trustees) must not mail or
otherwise distribute or send them in, into or from such
jurisdictions where to do so would violate the laws in that
jurisdiction.
The availability of the Offer to Target Shareholders who are not
resident in the United Kingdom may be affected by the laws of the
relevant jurisdictions in which they are resident. Persons who are
not resident in the United Kingdom should inform themselves of, and
observe, any applicable requirements.
The Offer shall be subject to the applicable requirements of the
Takeover Code, the Panel, the London Stock Exchange, the Financial
Conduct Authority the AIM Rules and the Registrar of Companies.
Forward-Looking Statements
This Announcement contains statements about Aggreko and
Crestchic that are or may be forward-looking statements. Forward
looking statements are prospective in nature and are not based on
historical facts, but rather on current expectations and
projections about future events, and are therefore subject to risks
and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the
forward looking statements. All statements, other than statements
of historical facts, may be forward-looking statements. Often, but
not always, forward-looking statements can be identified by the use
of forward-looking words such as "targets", "plans", "prepares",
"believes", "expects", "aims", "intends", "will", "should",
"could", "would", "may", "anticipates", "estimates", "synergy",
"cost-saving", "projects", "goal" or "strategy" or, "does not
expect", "is expected", "is subject to", "budget", "projects",
"scheduled", "forecasts", "intends", "cost-saving", "intends",
"anticipates" or "does not anticipate", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "should", "would", "might" or "will" be taken,
occur or be achieved. Forward-looking statements may include
statements relating to the following: (i) future capital
expenditures, expenses, revenues, earnings, synergies, economic
performance, indebtedness, financial condition, dividend policy,
losses and future prospects; (ii) business and management
strategies and the expansion and growth of Aggreko's or Crestchic's
operations and potential synergies resulting from the Offer; and
(iii) the effects of government regulation on Aggreko's or
Crestchic's business.
These forward-looking statements are not guarantees of future
performance. Such forward-looking statements involve known and
unknown risks and uncertainties that could significantly affect
expected results and are based on certain key assumptions. Many
factors could cause actual results to differ materially from those
projected or implied in any forward-looking statements. Due to such
uncertainties and risks, readers are cautioned not to place undue
reliance on such forward-looking statements, which speak only as of
the date of this Announcement. All subsequent oral or written
forward-looking statements attributable to Aggreko or Crestchic or
any of their respective members, directors, officers or employees
or any persons acting on their behalf are expressly qualified in
their entirety by the cautionary statement above. Except as
required by applicable law or regulatory obligation, Aggreko and
Crestchic disclaim any intention or obligation to update or revise
any forward-looking or other statements contained in this
Announcement, whether as a result of new information, future events
or otherwise.
No Profit Forecasts or Estimates
No statement in this Announcement is intended as a profit
forecast or profit estimate or quantified benefits statement for
any period and no statement in this Announcement should be
interpreted to mean that earnings or earnings per share for
Crestchic for the current or future financial years would
necessarily match or exceed the historical published earnings or
earnings per share for Crestchic.
Disclosure Requirements of the Takeover Code
Under Rule 8.3(a) of the Takeover Code, any person who is
interested in one per cent or more of any class of relevant
securities of an offeree company or of any securities exchange
offeror (being any offeror other than an offeror in respect of
which it has been announced that its offer is, or is likely to be,
solely in cash) must make an Opening Position Disclosure following
the commencement of the offer period and, if later, following the
announcement in which any securities exchange offeror is first
identified. An Opening Position Disclosure must contain details of
the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree
company and (ii) any securities exchange offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies must be
made by no later than 3:30pm (London time) on the tenth business
day following the commencement of the offer period and, if
appropriate, by no later than 3:30pm (London time) on the tenth
business day following the announcement in which any securities
exchange offeror is first identified. Relevant persons who deal in
the relevant securities of the offeree company or of a securities
exchange offeror prior to the deadline for making an Opening
Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Takeover Code, any person who is, or
becomes, interested in one per cent or more of any class of
relevant securities of the offeree company or of any securities
exchange offeror must make a Dealing Disclosure if the person deals
in any relevant securities of the offeree company or of any
securities exchange offeror. A Dealing Disclosure must contain
details of the dealing concerned and of the person's interests and
short positions in, and rights to subscribe for, any relevant
securities of each of (i) the offeree company and (ii) any
securities exchange offeror(s), save to the extent that these
details have previously been disclosed under Rule 8. A Dealing
Disclosure by a person to whom Rule 8.3(b) applies must be made by
no later than 3:30pm (London time) on the business day following
the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
Publication on a website
In accordance with Rule 26.1 of the Code, a copy of this
announcement and the documents required to be published pursuant to
Rule 26 of the Code will be made available, free of charge, subject
to certain restrictions relating to persons resident in Restricted
Jurisdictions, on the Company's website (www.crestchicplc.com) no
later than 12 noon (London time) on 7 February 2023. The content of
the website referred to in this announcement and any websites
accessible from hyperlinks on these websites are not incorporated
into and do not form part of this announcement.
Right to receive documents in hard copy form
Any person entitled to receive a copy of documents,
announcements and information relating to the Offer is entitled to
receive such documents in hard copy form free of charge. A person
may also request that all future documents, announcements and
information in relation to the Offer are sent to them in hard copy
form. A hard copy of this Announcement may be requested by
contacting Crestchic's Registrar's on 0371 664 0321. Calls are
charged at the standard geographic rate and will vary by provider.
Calls outside the United Kingdom will be charged at the applicable
international rate. The helpline is open between 9:00 a.m. and 5:30
p.m., Monday to Friday excluding public holidays in England and
Wales. Please note that the Company's Registrars cannot provide any
financial, legal or tax advice and calls may be recorded and
monitored for security and training purposes.
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END
IOENKKBBDBKDPBB
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February 20, 2023 06:27 ET (11:27 GMT)
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