FOR IMMEDIATE RELEASE
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
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
11 February 2021
Platinum Equity Advisors, LLC ("Platinum")
Statement regarding Marston's PLC ("Marston's")
Platinum notes Marston’s statement addressing press speculation on 29 January 2021 regarding a possible cash offer for the entire issued, and to be issued, share capital of Marston's (the "Proposal") and Marston’s subsequent rejection of the Proposal on 1 February 2021. Platinum today announces that, after careful consideration, it does not intend to submit a revised proposal and it will not make a firm offer for Marston’s.
Accordingly, this is a statement to which Rule 2.8 of the Code applies.
Under Note 2 on Rule 2.8 of the Code, Platinum reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:
(a) with the agreement of the board of Marston’s;
(b) if a third party announces a firm intention to make an offer for Marston’s;
(c) if Marston’s announces a “whitewash” proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or
(d) if there has been a material change of circumstances (as determined by the Takeover Panel).
Platinum +1 310 282 9202
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any 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, whether pursuant to this announcement or otherwise.
The release, distribution or publication of this announcement in jurisdictions outside the United Kingdom may be restricted by laws of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.
The information contained within this announcement is considered by Platinum to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014 (as amended in the United Kingdom from 1 January 2021). Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.