Statement of intention not to make an offer

RNS Number : 4441A

RIT Capital Partners PLC

07 June 2016

 

STATEMENT OF INTENTION NOT TO MAKE AN OFFER UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS

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 OR REGULATIONS OF THAT JURISDICTION.

For immediate release
7 June 2016

RIT CAPITAL PARTNERS PLC

No intention to make an offer for Alliance Trust plc

On 31 May 2016, RIT Capital Partners plc ("RIT or "the Company") announced that the possibility of combining the Company with Alliance Trust plc ("Alliance Trust") for the benefit of both sets of shareholders was at a preliminary stage of consideration.

Following careful analysis and constructive discussions with representatives of Alliance Trust, RIT has concluded that it would not be in the best interests of its shareholders to make an offer for Alliance Trust and accordingly announces that it does not intend to make an offer to acquire Alliance Trust.

The Board of RIT respects the process which Alliance Trust are going through and wishes them well with their strategic review.

This announcement is made in accordance with Rule 2.8 of the City Code on Takeovers and Mergers ("Code"). As a result of this announcement, RIT will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 2.8 of the Code.

Enquiries:

J.P. Morgan Cazenove                     [phone]

Michael Wentworth-Stanley              

William Simmonds                             

Ed Murray                                          

Adam Laursen                                                                                                                       

Brunswick Group                                 [phone]    

Tom Burns

Rowan Brown                                     

 About RIT 

RIT Capital Partners plc is an Investment Trust chaired by Lord Rothschild, which aims to protect and enhance shareholders' wealth over the long term.

Additional information is available on the Company's website at www.ritcap.com

 

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