Statement regarding press speculation

RNS Number : 6011B

Helical PLC

10 June 2019

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

10 June 2019 Helical plc

Statement regarding press speculation

The Board of Helical plc ("Helical") notes the recent press speculation in respect of an approach for the Company. 

We can confirm that the Company has in the recent past been in receipt of more than one unsolicited approach from different parties. To date all proposals made have been at a significant discount to the Company's EPRA NAV and therefore in the Board's view did not reflect the fair value of the Company.

The Board always acts in the best interests of its shareholders and therefore has been open to engaging with these potential offerors, including allowing due diligence to be conducted.

At present the Company is not in receipt of an approach pursuant to Rule 2 of the Takeover Code.

Enquiries:

Helical plc                                                                                                   Tel: [phone]

Gerald Kaye, CEO
Tim Murphy, CFO

J.P. Morgan Cazenove                                                                                       Tel: [phone] Bronson Albery, Kirshlen Moodley, Paul Hewlett, Tara Morrison
 

Numis Securities Limited                                                                          Tel: [phone]

Heraclis Economides, Ben Stoop

FTI Consulting                                                                                            Tel: [phone]

Dido Laurimore, Richard Sunderland, Richard Gotla

Disclaimer

J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is authorised in the United Kingdom by the Prudential Regulation Authority (the "PRA") and regulated by the PRA and Financial Conduct Authority. J.P. Morgan Cazenove is acting as financial adviser exclusively for Helical and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Helical for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, nor for providing advice in relation to any matter referred to herein.

Numis Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for the Company only as joint financial adviser and corporate broker in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the protections afforded to clients of Numis Securities Limited or advice to any other person in relation to the matters contained herein.

 

END

 

 

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