TIDM49UW TIDMTTM
RNS Number : 8820D
Cadent Finance PLC
26 June 2023
Cadent Finance plc Announces Cash Tender Offer for its
EUR750,000,000 Fixed Rate Instruments due 2024
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE
PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014
AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 (EUWA).
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO
ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS
TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN
ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA
ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT
OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF
THE UNITED STATES SECURITIES ACT OF 1933, AS AMED) OR IN OR INTO
ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR
DISTRIBUTE THIS ANNOUNCEMENT (SEE "OFFER AND DISTRIBUTION
RESTRICTIONS" BELOW) .
26 June 2023. Cadent Finance plc (formerly known as National
Grid Gas Finance plc) (the Offeror) announces today an invitation
to holders of its outstanding EUR750,000,000 Fixed Rate Instruments
due 2024 (ISIN: XS1493320656 ) (the Instruments) guaranteed by
Cadent Gas Limited (formerly known as National Grid Gas
Distribution Limited) (the Guarantor) to tender such Instruments
for purchase by the Offeror for cash (such invitation, the
Offer).
The Offer is being made on the terms and subject to the
conditions contained in the tender offer memorandum dated 26 June
2023 (the Tender Offer Memorandum) prepared by the Offeror in
connection with the Offer, and is subject to the offer restrictions
set out below, as more fully described in the Tender Offer
Memorandum. For detailed terms of the Offer, please refer to the
Tender Offer Memorandum, copies of which are (subject to
distribution restrictions) available from the Tender Agent as set
out below. Capitalised terms used but not otherwise defined in this
announcement shall have the meanings given to them in the Tender
Offer Memorandum.
Summary of the Offer
A summary of certain of the terms of the Offer appears
below:
Description ISIN / Outstanding Purchase Maximum Acceptance
of the Instruments Common Code Nominal Amount Benchmark Spread Amount
-------------------- ------------- ---------------- ------------- --------- -------------------
EUR750,000,000 XS1493320656 EUR750,000,000 Interpolated -15 bps Up to a maximum
Fixed Rate / 149332065 Mid-Swap aggregate
Instruments Rate nominal amount
due 2024 equal to the
aggregate
nominal amount
of the New
Instruments
to be issued
Rationale for the Offer
The Offer, in conjunction with the issuance of the New
Instruments (as defined below), is being made to proactively manage
the Offeror's debt profile.
Instruments purchased by the Offeror pursuant to the Offer are
expected to be cancelled and will not be re-issued or re-sold.
Purchase Price
The Offeror will pay for any Instruments validly tendered and
accepted for purchase by it pursuant to the Offer a purchase price
for such Instruments (the Purchase Price) to be determined at or
around 12.00 p.m. (London time) (the Pricing Time) on 5 July 2023
(the Pricing Date) in the manner described in the Tender Offer
Memorandum by reference to a yield (the Purchase Yield) calculated
as the sum of (i) the purchase spread of -15 bps (the Purchase
Spread) and (ii) the Interpolated Mid-Swap Rate.
Accrued Interest
The Offeror will also pay accrued and unpaid interest from (and
including) the immediately preceding interest payment date for such
Instruments to (but excluding) the Settlement Date (Accrued
Interest) in respect of any Instruments accepted by it for purchase
pursuant to the Offer (the Accrued Interest Payment).
Acceptance Amounts and Scaling
The Offeror proposes to accept for purchase pursuant to the
Offer up to an amount expected to be equal to the aggregate nominal
amount of the New Instruments to be issued (the Maximum Acceptance
Amount), although the Offeror reserves the right, in its sole
discretion, to accept significantly more or significantly less than
(or none of) the Maximum Acceptance Amount for purchase pursuant to
the Offer (the final aggregate amount of Instruments accepted for
purchase pursuant to the Offer being the Final Acceptance
Amount).
If the Offeror decides to accept for purchase valid tenders of
Instruments pursuant to the Offer and the aggregate nominal amount
of Instruments validly tendered pursuant to the Offer is greater
than the Final Acceptance Amount, the Offeror intends to accept
such Instruments for purchase on a pro rata basis such that the
aggregate nominal amount of Instruments accepted for purchase
pursuant to the Offer is no greater than the Final Acceptance
Amount, as further described in the Tender Offer Memorandum.
New Issue Condition
The Offeror will announce today its intention to issue a series
of new euro-denominated fixed rate securities (the New Instruments)
under its GBP7,000,000,000 Euro Medium Term Note Programme,
unconditionally and irrevocably guaranteed by the Guarantor (the
Programme), subject to market conditions. The New Instruments are
intended to be subscribed for by the Joint Lead Managers (as
defined in the Tender Offer Memorandum) and application will be
made for the New Instruments to be admitted on issue to the
official list of the FCA and to trading on the London Stock
Exchange's Main Market.
Whether the Offeror will purchase any Instruments validly
tendered in the Offer is subject, without limitation, to the
successful completion (in the sole determination of the Offeror) of
the issue of the New Instruments (the New Issue Condition).
Even if the New Issue Condition is satisfied, the Offeror is
under no obligation to accept for purchase any Instruments tendered
pursuant to the Offer. The acceptance for purchase by the Offeror
of Instruments validly tendered pursuant to the Offer is at the
sole discretion of the Offeror, and tenders may be rejected by the
Offeror for any reason.
Any investment decision to purchase any New Instruments should
be made solely on the basis of the information contained in the
listing particulars (as supplemented by the supplements
respectively dated 1 March 2023 and 23 June 2023, the Listing
Particulars) dated 6 December 2022 and prepared by the Offeror and
the Guarantor in connection with the Programme. No reliance is to
be placed on any representations other than those contained in the
Listing Particulars. Subject to compliance with applicable
securities laws and regulations, Listing Particulars and (following
the pricing of the New Instruments) the Final Terms are available
from the Joint Lead Managers on request.
For the avoidance of doubt, the ability to purchase New
Instruments is subject to all applicable securities laws and
regulations in force in any relevant jurisdiction (including the
jurisdiction of the relevant Holder and the selling restrictions
set out in the Listing Particulars). It is the sole responsibility
of each Holder to satisfy itself that it is eligible to purchase
the New Instruments.
Nothing in either this announcement or the Tender Offer
Memorandum constitutes an offer to sell or the solicitation of an
offer to buy the New Instruments in the United States or any other
jurisdiction. Securities may not be offered, sold or delivered in
the United States absent registration under, or an exemption from
the registration requirements of, the United States Securities Act
of 1933, as amended (the Securities Act). The New Instruments have
not been, and will not be, registered under the Securities Act or
the securities laws of any state or other jurisdiction of the
United States and may not be offered, sold or delivered, directly
or indirectly, within the United States or to, or for the account
or benefit of, U.S. persons (as defined in Regulation S under the
Securities Act).
Compliance information for the New Instruments :
UK MiFIR professionals/ECPs-only/No UK PRIIPs KID - eligible
counterparties and professional clients only (all distribution
channels). No sales to UK retail investors; no key information
document has been or will be prepared. EU MiFID
professionals/ECPs-only/No EU PRIIPS KID - eligible counterparties
and professional clients only (all distribution channels). No sales
to EEA retail investors; no key information document has been or
will be prepared.
See the Listing Particulars for further information.
No action has been or will be taken in any jurisdiction in
relation to the New Instruments to permit a public offering of
securities.
Allocation of the New Instruments
When considering allocation of the New Instruments, the Offeror
may give preference to those Holders that, prior to such
allocation, have validly tendered or have given a firm intention to
any Dealer Manager that they intend to tender their Instruments for
purchase pursuant to the Offer. Therefore, a Holder that wishes to
subscribe for New Instruments in addition to tendering its existing
Instruments for purchase pursuant to the Offer may be eligible to
receive, at the sole and absolute discretion of the Offeror,
priority in the allocation of the New Instruments, subject to the
issue of the New Instruments and such Holder making a separate
application for the purchase of such New Instruments to a Dealer
Manager (in its capacity as a Joint Lead Manager of the issue of
the New Instruments) in accordance with the standard new issue
procedures of such Joint Lead Manager. Any such preference will,
subject to the sole and absolute discretion of the Offeror, be
applicable up to the aggregate nominal amount of Instruments
tendered by such Holder (or in respect of which such Holder has
indicated a firm intention to tender as described above) pursuant
to the Offer. However, the Offeror is not obliged to allocate any
New Instruments to a Holder that has validly tendered or indicated
a firm intention to tender its Instruments for purchase pursuant to
the Offer and, if any such New Instruments are allocated, the
nominal amount thereof may be less or more than the nominal amount
of Instruments tendered by such Holder and accepted for purchase by
the Offeror pursuant to the Offer. Any such allocation will also,
among other factors, take into account the minimum denomination of
the New Instruments (being EUR100,000).
All allocations of the New Instruments, while being considered
by the Offeror as set out above, will be made in accordance with
customary new issue allocation processes and procedures in the sole
and absolute discretion of the Offeror. In the event that a Holder
validly tenders Instruments pursuant to the Offer, such Instruments
will remain subject to such tender and the conditions of the Offer
as set out in the Tender Offer Memorandum irrespective of whether
that Holder receives all, part or none of any allocation of New
Instruments for which it has applied.
Holders should note that the pricing and allocation of the New
Instruments are expected to take place prior to the Expiration
Deadline for the Offer and any Holder that wishes to subscribe for
New Instruments in addition to tendering existing Instruments for
purchase pursuant to the Offer should therefore provide, as soon as
practicable, to any Dealer Manager any indications of a firm
intention to tender Instruments for purchase pursuant to the Offer
and the quantum of Instruments that it intends to tender.
Tender Instructions
In order to participate in, and be eligible to receive the
Purchase Price and the Accrued Interest Payment pursuant to, the
Offer, Holders must validly tender their Instruments for purchase
by delivering, or arranging to have delivered on their behalf, a
valid Tender Instruction that is received by the Tender Agent by
4.00 p.m. (London time) on 4 July 2023 unless extended, re-opened,
amended and/or terminated as provided in the Tender Offer
Memorandum (the Expiration Deadline).
Tender Instructions will be irrevocable except in the limited
circumstances described in the Tender Offer Memorandum.
Tender Instructions must be submitted in respect of a minimum
nominal amount of Instruments of no less than EUR100,000 (being the
minimum denomination of the Instruments), and may be submitted in
integral multiples of EUR1,000 thereafter.
A separate Tender Instruction must be completed on behalf of
each beneficial owner.
Indicative timetable for the Offer
The anticipated transaction timetable is summarised below:
Events Times and Dates
(All times are London time)
Commencement of the Offer
Announcement of Offer and the intention of the Offeror to 26 June 2023
issue the New Instruments, subject
to market conditions. Tender Offer Memorandum available
from the Tender Agent (subject to
the restrictions set out in "Offer and Distribution
Restrictions" below).
Announcement of the Maximum Acceptance Amount As soon as practicable following the pricing of the New
Instruments
Expiration Deadline
Final deadline for receipt of valid Tender Instructions 4.00 p.m. on 4 July 2023
by the Tender Agent in order for Holders
to be able to participate in the Offer.
Announcement of Indicative Results
Announcement by the Offeror of the aggregate nominal Prior to the Pricing Time on 5 July 2023
amount of Instruments validly tendered
pursuant to the Offer, together with a non-binding
indication of the level at which it expects
to set the Final Acceptance Amount and indicative details
of any pro rata scaling that will
apply in the event that the Offeror decides to accept
(subject to satisfaction or waiver of
the New Issue Condition on or prior to the Settlement
Date) valid tenders of Instruments pursuant
to the Offer.
Pricing Time
Determination of the Interpolated Mid-Swap Rate and At or around 12.00 noon on 5 July 2023
calculation of the Purchase Yield and
Purchase Price.
Announcement of Results and Pricing
Announcement by the Offeror of whether it will accept As soon as reasonably practicable after the Pricing Time
(subject to the satisfaction or waiver
of the New Issue Condition on or prior to the Settlement
Date) valid tenders of Instruments
for purchase pursuant to the Offer and, if so accepted,
the Final Acceptance Amount, the Interpolated
Mid-Swap Rate , the Purchase Yield, the Purchase Price
and details of any pro rata scaling.
Settlement Date
Subject to the satisfaction, or waiver, of the New Issue 7 July 2023
Condition, expected Settlement Date
for the Offer.
The Offeror may, in its sole discretion, extend, re-open, amend,
waive any condition of or terminate the Offer at any time (subject
to applicable law and as provided in the Tender Offer Memorandum)
and the above times and dates are subject to the right of the
Offeror to so extend, re-open, amend and/or terminate the
Offer.
Holders are advised to check with any bank, securities broker or
other intermediary through which they hold Instruments when such
intermediary would need to receive instructions from a Holder in
order for that Holder to be able to participate in, or (in the
limited circumstances in which revocation is permitted) revoke
their instruction to participate in, the Offer before the deadlines
specified above. The deadlines set by any such intermediary and
each Clearing System for the submission and revocation of Tender
Instructions will be earlier than the relevant deadlines set out
above and in the Tender Offer Memorandum.
Unless stated otherwise, announcements in connection with the
Offer will be made by or on behalf of the Offeror by (i)
publication through RNS and (ii) the delivery of notices to the
Clearing Systems for communication to Direct Participants. Such
announcements may also be made (a) on the relevant Reuters Insider
Screen and/or (b) by the issue of a press release to a Notifying
News Service. Copies of all such announcements, press releases and
notices can also be obtained upon request from the Tender Agent,
the contact details for which are below. Significant delays may be
experienced where notices are delivered to the Clearing Systems and
Holders are urged to contact the Tender Agent for the relevant
announcements during the course of the Offer. In addition, Holders
may contact the Dealer Managers for information using the contact
details below.
Holders are advised to read carefully the Tender Offer
Memorandum for full details of and information on the procedures
for participating in the Offer.
Barclays Bank PLC, BNP Paribas, Crédit Agricole Corporate and
Investment Bank, Mizuho International plc and SMBC Nikko Capital
Markets Limited are acting as Dealer Managers for the Offer and
Kroll Issuer Services Limited is acting as Tender Agent.
Questions and requests for assistance in connection with the
Offer may be directed to the Dealer Managers:
Barclays Bank PLC ( Telephone: 44 20 3134 8515; Attention
Liability Management Group; Email: eu.lm@barclays.com ); BNP
Paribas (Telephone: +33 1 55 77 78 94; Attention: Liability
Management Group; Email: liability.management@bnpparibas.com ); Cr
édit Agricole Corporate and Investment Bank ( Telephone: +44 20
7214 5733; Attention: Liability Management; Email:
liability.management@ca-cib.com ); Mizuho International plc (
Telephone: +44 20 7090 6134; Attention: Liability Management;
Email: liabilitymanagement@uk.mizuho-sc.com ); SMBC Nikko Capital
Markets Limited (Telephone: +44 204 507 5043; Attention: Liability
Management; Email: liability.management@smbcnikko-cm.com) .
Questions and requests for assistance in connection with the
procedures for participating in the Offer, including the delivery
of Tender Instructions, may be directed to the Tender Agent:
Kroll Issuer Services Limited (Telephone: +44 20 7704 0880;
Attention: Owen Morris; Email: cadent@is.kroll.com ; Website:
https://deals.is.kroll.com/cadent ) .
This announcement is released by the Offeror and contains
information that qualified or may have qualified as inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the EUWA (UK MAR), encompassing information relating to
the Offer described above. For the purposes of UK MAR and the
Implementing Technical Standards, this announcement is made by Tom
Sacker (Director of Treasury, Corporate Finance and Planning), as
attorney for Cadent Finance plc.
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. This announcement and the Tender Offer
Memorandum contain important information which should be read
carefully before any decision is made with respect to the Offer. If
any Holder is in any doubt as to the contents of this announcement
and/or the Tender Offer Memorandum or the action it should take, it
is recommended to seek its own financial and legal advice,
including in respect of any tax consequences, immediately from its
broker, bank manager, solicitor, accountant or other independent
financial, tax or legal adviser. Any individual or company whose
Instruments are held on its behalf by a broker, dealer, bank,
custodian, trust company or other nominee or intermediary must
contact such entity if it wishes to tender such Instruments
pursuant to the Offer. The Dealer Managers are acting exclusively
for the Offeror and the Guarantor and no one else in connection
with the arrangements described in this announcement and the Tender
Offer Memorandum and will not be responsible to any Holder for
providing the protections which would be afforded to customers of
the Dealer Managers or for advising any other person in connection
with the Offer. None of the Offeror, the Guarantor, the Dealer
Managers or the Tender Agent or any director, officer, employee,
agent or affiliate of any such person has made or will make any
assessment of the merits and risks of the Offer or of the impact of
the Offer on the interests of the Holders either as a class or as
individuals, and none of them makes any recommendation as to
whether Holders should tender Instruments pursuant to the Offer.
None of the Offeror, the Guarantor, the Dealer Managers or the
Tender Agent (or any of their respective directors, officers,
employees, agents or affiliates) is providing Holders with any
legal, business, tax or other advice in this announcement and/or
the Tender Offer Memorandum. Holders should consult with their own
advisers as needed to assist them in making an investment decision
and to advise them whether they are legally permitted to tender
Instruments for cash.
Offer and Distribution Restrictions
Neither this announcement nor the Tender Offer Memorandum
constitutes an invitation to participate in the Offer in any
jurisdiction in which, or to any person to or from whom, it is
unlawful to make such invitation or for there to be such
participation under applicable securities laws. The distribution of
this announcement, the Tender Offer Memorandum and/or any other
materials relating to the Offer in certain jurisdictions may be
restricted by law. Persons into whose possession this announcement,
the Tender Offer Memorandum and/or any other materials relating to
the Offer come(s) are required by each of the Offeror , the
Guarantor, the Dealer Managers and the Tender Agent to inform
themselves about, and to observe, any such restrictions.
Neither this announcement, the Tender Offer Memorandum nor the
electronic transmission thereof constitutes an offer to buy or a
solicitation of an offer to sell Instruments (and tenders of
Instruments in the Offer will not be accepted from Holders) in any
circumstances in which such offer or solicitation is unlawful. In
those jurisdictions where the securities, blue sky or other laws
require the Offer to be made by a licensed broker or dealer and any
Dealer Manager or any of their respective affiliates is such a
licensed broker or dealer in any such jurisdiction, the Offer shall
be deemed to be made by such Dealer Manager or such affiliate, as
the case may be, on behalf of the Offeror in such jurisdiction.
No action has been or will be taken in any jurisdiction in
relation to the New Instruments that would permit a public offering
of securities and the minimum denomination of the New Instruments
will be EUR100,000. Any investment decision to purchase any New
Instruments should be made solely on the basis of the information
contained in the Listing Particulars, as completed by the Final
Terms published following the pricing of the New Instruments, and
no reliance is to be placed on any representations other than those
contained in the Listing Particulars and such Final Terms.
United States
The Offer is not being made, and will not be made, directly or
indirectly in or into, or by use of the mails of, or by any means
or instrumentality of interstate or foreign commerce of, or of any
facilities of a national securities exchange of, the United States
or to any U.S. person (as defined in Regulation S of the United
States Securities Act of 1933, as amended (each a U.S. Person)).
This includes, but is not limited to, facsimile transmission,
electronic mail, telex, telephone, the internet and other forms of
electronic communication. The Instruments may not be tendered in
the Offer by any such use, means, instrumentality or facility from
or within the United States or by persons located or resident in
the United States or to any U.S. Person. Accordingly, copies of
this announcement, the Tender Offer Memorandum and any other
documents or materials relating to the Offer are not being, and
must not be, directly or indirectly mailed or otherwise
transmitted, distributed or forwarded (including, without
limitation, by custodians, nominees or trustees) in or into the
United States or to any persons located or resident in the United
States or to any U.S. Person, and the Instruments cannot be
tendered in the Offer by any use, means, instrumentality or
facility from or within or by persons located or resident in the
United States or by any U.S. Person. Any purported tender of
Instruments in the Offer resulting directly or indirectly from a
violation of these restrictions will be invalid and any purported
tender of Instruments made by a person located in the United
States, a U.S. Person, by any person acting for the account or
benefit of a U.S. Person or any agent, fiduciary or other
intermediary acting on a non-discretionary basis for a principal
giving instructions from within the United States will be invalid
and will not be accepted.
Neither this announcement nor the Tender Offer Memorandum is an
offer of securities for sale in the United States or to U.S.
Persons. Securities may not be offered, sold or delivered in the
United States absent registration under, or an exemption from the
registration requirements of, the Securities Act. The New
Instruments have not been, and will not be, registered under the
Securities Act or the securities laws of any state or other
jurisdiction of the United States and may not be offered, sold or
delivered, directly or indirectly, within the United States or to,
or for the account or benefit of, U.S. Persons.
Each Holder participating in the Offer will represent that it is
not a U.S. Person and it is not located in the United States and it
is not participating in the Offer from the United States, or it is
acting on a non-discretionary basis for a principal located outside
the United States that is not giving an order to participate in the
Offer from the United States and who is not a U.S. Person. For the
purposes of this and the above two paragraphs, United States means
the United States of America, its territories and possessions
(including Puerto Rico, the U.S. Virgin Islands, Guam, American
Samoa, Wake Island and the Northern Mariana Islands), any state of
the United States of America and the District of Columbia.
United Kingdom
The communication of this announcement, the Tender Offer
Memorandum and any other documents or materials relating to the
Offer is not being made and such documents and/or materials have
not been approved by an authorised person for the purposes of
section 21 of the Financial Services and Markets Act 2000.
Accordingly , this announcement, the Tender Offer Memorandum and
any other documents or materials relating to the Offer are not
being distributed to, and must not be passed on to, the general
public in the United Kingdom. The communication of such documents
and/or materials as a financial promotion is only being made to
those persons in the United Kingdom falling within the definition
of investment professionals (as defined in Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (as amended, the Financial Promotion Order)), persons who are
within Article 43 of the Financial Promotion Order (which includes
an existing creditor of the Offeror and, therefore, includes the
Holders) or any other persons to whom it may otherwise lawfully be
made under the Financial Promotion Order.
Italy
None of the Offer, this announcement, the Tender Offer
Memorandum and any other documents or materials relating to the
Offer has been or will be submitted to the clearance procedures of
the Commissione Nazionale per le Società e la Borsa (CONSOB)
pursuant to Italian laws and regulations. The Offer is being
carried out in the Republic of Italy (Italy) as an exempted offer
pursuant to article 101-bis, paragraph 3-bis of the Legislative
Decree No. 58 of 24 February 1998, as amended (the Financial
Services Act) and article 35-bis, paragraph 4 of CONSOB Regulation
No. 11971 of 14 May 1999, as amended. Holders or beneficial owners
of the Instruments that are located in Italy may tender some or all
of their Instruments in the Offer through authorised persons (such
as investment firms, banks or financial intermediaries permitted to
conduct such activities in Italy in accordance with the Financial
Services Act, CONSOB Regulation No. 20307 of 15 February 2018 , as
amended from time to time, and Legislative Decree No. 385 of 1
September 1993, as amended) and in compliance with applicable laws
and regulations or with requirements imposed by CONSOB or any other
Italian authority.
Each intermediary must comply with the applicable laws and
regulations concerning information duties vis-à-vis its clients in
connection with the Instruments and/or the Offer.
France
The Offer is not being made, directly or indirectly, to the
public in the Republic of France (France). This announcement, the
Tender Offer Memorandum and any other document or material relating
to the Offer have only been and shall only be distributed in France
to qualified investors as defined in Article 2(e) of Regulation
(EU) 2017/1129. Neither this announcement nor the Tender Offer
Memorandum has been or will be submitted for clearance to nor
approved by the Autorité des Marchés Financiers.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
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(END) Dow Jones Newswires
June 26, 2023 04:15 ET (08:15 GMT)
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