Apollo Management Holdings, L.P. Rule 2.8 Announcement (1818Z)
RNS Number : 1818Z
Apollo Management Holdings, L.P.
12 May 2023
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
REGULATION OF SUCH 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
For Immediate Release 12 May 2023
Statement of intention not to make an offer for THG plc
On 17 April 2023, THG Plc ("THG") announced it was in receipt of
an indicative proposal from Apollo Global Management, Inc.
("Apollo"), on behalf of certain investment funds managed by it or
its affiliates, to acquire the entire issued and to be issued share
capital of THG.
Apollo confirms that it does not intend to make an offer to
acquire THG. Accordingly, except with the consent of the Panel on
Takeovers and Mergers (the "Takeover Panel"), Apollo, and any
person acting in concert with Apollo, is bound by the restrictions
under Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, Apollo, on behalf of its
managed funds, and any person acting in concert with Apollo,
reserves the right to set aside the restrictions in Rule 2.8 of the
Code and announce an offer or possible offer for THG, or make or
participate in an offer or possible offer for THG, and/or take any
other action otherwise precluded under Rule 2.8 of the Code within
six months of the date of this announcement in the following
i) with the agreement or recommendation of the board of THG;
ii) following the announcement of a firm intention to make an
offer for THG, by or on behalf of a third party;
iii) following the announcement by THG of a Rule 9 waiver
proposal (as described in Note 1 of the Notes on Dispensations from
Rule 9) or a reverse takeover (as defined in the Code); and/or
iv) if there has been a material change of circumstances (as determined by the Takeover Panel).
Apollo, on behalf of its managed funds, also reserves the right
to acquire shares of THG, subject to, and in accordance with, the
Code and other applicable regulations.
For investor enquiries regarding Apollo , please contact:
Noah Gunn, Global Head of Investor Relations +1 212 822 0540
For media enquiries regarding Apollo, please contact:
Joanna Rose, Global Head of Corporate Communications +1 212 822 0491
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be made available, subject to certain
restrictions relating to persons resident in restricted
jurisdictions, on Apollo's website at www.apollo.com by no later
than 12 noon (London time) on the business day following the date
of this announcement. The content of the website referred to in
this announcement is not incorporated into and does not form part
of this announcement.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise. Any offer (if made) will be made solely
by certain offer documentation which will contain the full terms
and conditions of any offer (if made), including details of how it
may be accepted.
The release, publication or distribution of this announcement in
jurisdictions outside the United Kingdom may be restricted by law
and therefore persons into whose possession this announcement comes
should inform themselves about, and observe, such restrictions. Any
failure to comply with the restrictions may constitute a violation
of the securities law of any such jurisdiction.
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May 12, 2023 02:30 ET (06:30 GMT)
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