NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
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
FOR
IMMEDIATE RELEASE
13 August
2024
Bellway p.l.c.
("Bellway")
Statement regarding Crest
Nicholson Holdings plc ("Crest Nicholson")
Further to the previous
announcements made by Bellway and Crest Nicholson regarding a
possible offer for Crest Nicholson, Bellway confirms that it does
not intend to make a firm offer for Crest Nicholson.
As noted in its trading update released on 9
August 2024, Bellway remains confident that
its robust balance sheet and operational strength, combined with
the depth and quality of its land bank, will enable Bellway to
deliver volume growth in the years ahead and support ongoing value
creation for shareholders.
This is a statement to which Rule
2.8 of the Code applies. Accordingly, Bellway and any
person(s) acting in concert with it will, except with the consent
of the Panel on Takeovers and Mergers (the "Takeover Panel"), be
bound by the restrictions set out in Rule 2.8 of the Code.
Under Note 2 of Rule 2.8 of the Code, Bellway, and any
person(s) acting in concert with it, reserves the right to set the
restrictions in Rule 2.8 of the Code aside in the following
circumstances:
a) with the
agreement of the Board of Directors of Crest Nicholson;
b) following
the announcement of a firm intention to make an offer for Crest
Nicholson by or on behalf of a third party;
c) following
the announcement by Crest Nicholson of a Rule 9 waiver proposal (as
described in Note 1 of the Notes on Dispensations from Rule 9 of
the Code) or a reverse takeover (as defined in the Code);
or
d) where the
Takeover Panel has determined that there has been a material change
of circumstances.
The person responsible for arranging
the release of this announcement on behalf of Bellway is Simon
Scougall, Chief Commercial Officer and
Company Secretary.
Enquiries:
|
Bellway p.l.c.
|
via Sodali & Co
|
|
Simon Scougall, Chief Commercial
Officer and Company Secretary
|
|
|
Sodali & Co
Financial communications adviser
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+44 (0) 20 3984 0125
|
|
Justin Griffiths
Victoria Heslop
Madeleine Gordon-Foxwell
|
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Publication on a website
In accordance with Rule 26.1 of the
Code, a copy of this announcement will be available at
www.bellwayplc.co.uk/investor-centre.
The content of the website referred to in this announcement is not
incorporated into and does not form part of this
announcement.