TIDMUTG
RNS Number : 0740V
Unite Group PLC
29 November 2019
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
29 November 2019
THE UNITE GROUP PLC (THE "COMPANY" OR "UNITE")
COMPLETION OF ACQUISITION OF LIBERTY LIVING GROUP PLC ("LIBERTY
LIVING")
Unite Group Plc is pleased to announce that it has completed the
acquisition of Liberty Living Group Plc from Liberty Living
Holdings Inc., a wholly owned subsidiary of Canada Pension Plan
Investment Board ("CPPIB") (the "Acquisition").
Richard Smith, Chief Executive Officer of Unite, said: "I am
delighted that we have completed the transformational acquisition
of Liberty Living, reinforcing our position as a leading provider
of purpose-built student accommodation in the UK. This deal brings
together two complementary businesses who share a commitment to
providing high quality, affordable student accommodation with a
focus on service and welfare and a strategic alignment to
universities where student demand is strongest.
"The deal will accelerate our earnings, driving meaningful
accretion from 2020 onwards. It also gives us enhanced scale which,
combined with our best-in-class operating platform, means we are
well-placed to meet the substantial market opportunity from the 1.5
million students requiring accommodation each year."
Unite is pleased to announce that, with effect from completion,
Thomas Jackson, nominated by CPPIB, has been appointed as a
non-executive director of the Company.
Admission of the 72,582,286 new ordinary shares of 25 pence each
issued to Liberty Living Holdings Inc. in part consideration for
the Acquisition to the premium listing segment of the Official List
maintained by the UK Listing Authority and to trading on the London
Stock Exchange's main market for listed securities is expected to
occur at 8.00 a.m. on 29 November 2019.
In accordance with the FCA Disclosure Guidance and Transparency
Rules ("DTR"), subsequent to this share issue, Unite's issued share
capital consists of 363,531,737 ordinary shares. There are no
ordinary shares held in treasury. Therefore, the total number of
voting rights in the Company is 363,531,737.
This figure, 363,531,737, may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the DTR.
For further information please contact:
The Unite Group +44 (0) 117 302 7005
Richard Smith, Chief Executive Officer
Joe Lister, Chief Financial Officer
J.P. Morgan Cazenove (Joint Financial Adviser) +44 (0) 20 7742 4000
Bronson Albery
Numis (Sole Sponsor and Joint Financial Adviser) +44 (0) 20 7260 1000
Heraclis Economides
Powerscourt (PR Adviser to Unite) +44 (0)20 7250 1446
Justin Griffiths
Victoria Heslop
IMPORTANT NOTICE
This announcement is for information purposes only and shall not
constitute an offer to sell or issue or the solicitation of an
offer to buy, subscribe for or otherwise acquire securities in any
jurisdiction in which any such offer or solicitation would be
unlawful. Any failure to comply with this restriction may
constitute a violation of the securities laws of such
jurisdictions.
This announcement may contain "forward-looking statements" with
respect to certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "seek", "may", "could", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements
involve risk and uncertainty because they relate to future events
and circumstances which are or may be beyond the control of Unite
and/or Liberty Living and which could cause actual results or
trends to differ materially. Any forward-looking statements made in
this announcement by or on behalf of the Company speak only as of
the date they are made. Except as required by applicable law or
regulation, the Company expressly disclaims any obligation or
undertaking to publish any updates or revisions to any
forward-looking statements contained in this announcement to
reflect any changes in the Company's expectations with regard
thereto or any changes in events, conditions or circumstances on
which any such statement is based.
No statement in this announcement is intended to be a profit
forecast, and no statement in this announcement should be
interpreted to mean that earnings or earnings per share of Unite or
Liberty Living for the current or future financial years would
necessarily match or exceed the historical published earnings or
earnings per share of Unite or Liberty Living.
Neither the content of the Company's website nor any website
accessible by hyperlinks on the Company's website is incorporated
in, or forms part of, this announcement.
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.
END
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November 29, 2019 02:00 ET (07:00 GMT)
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