Statement of intention not to make an offer

CVC Advisers Limited

28 September 2026

 

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 THAT JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

28 September 2026

Statement of intention not to make an offer for Bodycote plc

CVC Advisers Limited ("CVC") refers to the announcement made on 1 September 2026 by Vulcan Alpha Bidco Limited and Bodycote plc ("Bodycote") of a recommended firm intention to make an offer for Bodycote pursuant to Rule 2.7 of the Code, and to CVC's announcement of the same date. CVC confirms that it does not intend to make an offer to acquire Bodycote.

CVC is grateful for the constructive engagement shown by the Bodycote Board and management team, and thanks them for the time they have devoted to considering this potential transaction.

This is a statement to which Rule 2.8 of the Takeover Code (the "Code") applies.

Under Note 2 on Rule 2.8 of the Code, CVC reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

(a)  in the event that the offer by Vulcan Alpha Bidco Limited is withdrawn or lapses, with the agreement of the board of Bodycote;

(b)    if a third party announces a firm intention to make an offer for Bodycote;

(c)   if Bodycote announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and

(d)    if there has been a material change of circumstances (as determined by the Takeover Panel).

For further information, please contact:

CVC Advisers Limited Carsten Huwendiek Nick Board	[phone]

Publication on website

A copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on CVC's website at www.cvc-forge-offer-2026.com. For the avoidance of doubt, the contents of that website is not incorporated into and does not form part of this announcement.

Further information

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction. Any offer, if made, will be made solely by certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be accepted.

The release, publication or distribution of this announcement in whole or in part, directly or indirectly, in, into or from certain jurisdictions outside the United Kingdom may be restricted by law and therefore persons in such jurisdictions should inform themselves about such restrictions and observe any applicable requirements. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.

This announcement has been prepared in accordance with English law and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England.

 

END