Offer Update – Extension of FCA approval
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW IN THE PUBLIC DOMAIN
FOR IMMEDIATE RELEASE
19 April 2022
the ince group PLC
Recommended All Share Offer
Arden Partners plc ("Arden")
The Ince Group plc ("Ince")
Offer Update - Extension of FCA approval
Further to Ince's announcement on 14 April 2022, the directors of Ince are pleased to report that the FCA has extended its approval of the Change of Control of Arden upon the completion of Ince's all-share offer to acquire the issued and to be issued share capital of Arden (the "Acquisition"), to 28 April 2022.
The Acquisition is to be effected through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). A document containing full details of the terms and conditions of the Scheme and the Acquisition (the "Scheme Document") was published on 20 December 2021. Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Scheme Document.
All required regulatory approvals for completion of the Scheme and the Acquisition have now been received or waived.
Completion of the Scheme and the Acquisition remains subject to the sanction of the Scheme under section 899 of the Companies Act and the delivery of a copy of the Court Order to the Registrar of Companies.
A court hearing to sanction the Scheme has been scheduled to be held on 27 April 2022. Assuming the Scheme is sanctioned at such hearing, it is expected that a copy of the order of the Court to sanction the Scheme will be delivered to the Registrar of Companies and the Scheme will become effective on 28 April 2022 (the "Effective Date").
The current expected timetable of principal events for the completion of the Scheme and the Acquisition remains as set out in Ince's announcement on 14 April 2022.
The Ince Group plc
Adrian Biles, Group Chief Executive
Simon Oakes, Chief Financial Officer
Allenby Capital Limited - Nominated Adviser
+44 (0) 20 3328 5656
Jeremy Porter / Piers Shimwell, Corporate Finance
Arden Partners plc - Financial Adviser and Broker
+44 (0) 20 7614 5900
Paul Shackleton, Corporate Finance
John Llewellyn Lloyd, Corporate Finance
Louisa Waddell, Corporate Finance
Simon Johnson, Equity Sales
Williams Nicolson - Financial PR
+44 (0) 7767 345 563
Steffan Williams / Fraser Schurer-Lewis
About The Ince Group plc
The Ince Group is a dynamic international legal and professional services business with offices in nine countries across Europe, Asia and the Middle East. With over 700 people, The Ince Group delivers legal advice, strategic guidance and business solutions to clients ranging from the world's oldest and biggest businesses operating across numerous industries to ultra-high net worth individuals. Through its entrepreneurial culture and "one firm" approach, the business offers its clients over 150 years of experience, insight and relationships. The Group is driven by a unique team of passionate people whose broad expertise and deep sector specialisms provide their clients with solutions to all their complex legal and strategic needs.