Kewill PLC rule 2.11 disclosure (7552F)
20 June 2012 - 6:35PM
UK Regulatory
TIDMKWL
RNS Number : 7552F
Kewill plc
20 June 2012
RGM Capital, LLC
Disclosure under Rule 2.11 of the City Code on Takeovers and
Mergers
RGM Capital, LLC ("RGM") provided a non-binding letter of intent
to Kinetic Bidco Limited ("Kinetic") regarding Kinetic's proposed
acquisition of Kewill plc ("Kewill"), as referred to in the
announcement of the Recommended Proposal For The Cash Acquisition
dated 2 May 2012. RGM had originally provided a Letter of Intent to
Kinetic covering 1,380,081 voting shares of Kewill. RGM announces
that it no longer intends to comply with this non-binding letter of
intent.
RGM is interested In 5,340,581 of the voting shares of Kewill.
RGM previously wrote an irrevocable to Kinetic covering 5,060,500
voting shares of Kewill. This irrevocable has fallen away.
Following the revised offer by Kinetic dated 19 June 2012, RGM has
written a new irrevocable to Kinetic covering 5,340,581 voting
shares of Kewill.
The irrevocable undertaking received from RGM will cease to be
binding:
(a) in the event a competing offer for Kewill is made within 10
days of the date of the announcement of the revised offer by
Kinetic dated 19 June 2012, the value of which exceeds the value of
the revised offer by Kinetic by more than 7.5 per cent.; or
(b) if Kewill ceases to be In an Offer Period (as such term is
defined In the City Code) or Kinetic informs RGM in writing that It
has ceased to be interested in pursuing the revised offer for
Kewill.
RGM Capital, LLC
This information is provided by RNS
The company news service from the London Stock Exchange
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