Ince Group PLC (The) Update regarding the appointment of a new NOMAD (1801T)
23 November 2021 - 4:07AM
UK Regulatory
TIDMINCE TIDMARDN
RNS Number : 1801T
Ince Group PLC (The)
22 November 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
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JURISDICTION.
22 November 2021
THE INCE GROUP PLC
("Ince" or the "Company")
UPDATES REGARDING THE APPOINTMENT OF A NEW NOMINATED ADVISER
AND
THE OFFER FOR ARDEN PARTNERS PLC
Following the announcement of the suspension of the Company's
shares from trading on AIM on 28 October 2021, the Company reports
that steps to appoint a replacement Nominated Adviser are in
progress.
Pursuant to rule 1 of the AIM Rules for Companies, if an AIM
company does not appoint a replacement Nominated Adviser within one
month of a suspension then admission to trading of its shares on
AIM will be cancelled. Accordingly, the Company is using all
reasonable endeavours to appoint a new Nominated Adviser as soon as
practicable. A further update will be made in due course.
Further to the announcement made by the Company on 26 October
2021 (the "Rule 2.7 Announcement") regarding a firm intention to
make an offer for Arden Partners plc ("Arden") (the "Offer"), on 19
November 2021 the Company issued a joint announcement with Arden
notifying Arden's shareholders of an extension of the deadline for
the posting of the Scheme Document to 24 December 2021.
The Offer is subject to certain conditions, as set out in the
Rule 2.7 Announcement, including the approval by London Stock
Exchange plc of Arden's re-application to be a Nominated Adviser
following its change of control (the "Condition"). The AIM Rules
for Nominated Advisers require the Company, as the new controller
of Arden, to satisfy the eligibility criteria for a Nominated
Adviser in its own right as set out under those rules. Accordingly,
there can be no guarantee that the application for such a change of
control, when made, will succeed.
If the change of control application is not successful, the
Company would be likely to seek the permission of the Takeover
Panel to invoke the Condition.
Should the offer complete in circumstances where the change of
control application is not successful, then Arden would cease to be
a Nominated Adviser.
A further announcement will be made in due course.
ENQUIRIES:
The Ince Group plc investorrelations@incegd.com
Adrian Biles (Chief Executive Officer)
Simon Oakes (Chief Financial Officer)
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END
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