Lecram Holdings Ltd Offer Update (2152B)

TIDMPURP

RNS Number : 2152B

Lecram Holdings Ltd

31 May 2023

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 SUCH JURISDICTION

THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UNITED KINGDOM ("UK") CITY CODE ON TAKEOVERS AND MERGERS (THE "TAKEOVER Code")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN RELATION TO PURPLEBRICKS PLC FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS WHICH FORM PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT OF 2018.

FOR IMMEDIATE RELEASE

31 May 2023

Lecram Holdings Limited (Lecram")

NO INTENTION TO BID STATEMENT

Further to the announcements made by Purplebricks Group plc ("Purplebricks"), on 26 May 2023, that it had received an indicative offer proposal from Lecram to acquire the entire issued and to be issued share capital of Puplebricks, Lecram Holdings Limited today confirms that it has decided not to proceed with its indicative offer proposal and therefore it is not intending to make an offer.

The reason leading to Lecram's decision not to proceed is, principally, that the financial condition of Purplebricks was found to be significantly worse than expected.

This is a statement to which Rule 2.8 of the Takeover Code applies.

 
 The Nisse Consultancy: 
  Jason Nisse               Tel: 07769 688618 
  Andrew Garfield           Tel: 07974 982337

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No investment recommendation:

This announcement is not intended to be and does not constitute or contain any investment recommendation as defined by Regulation (EU) No 596/2014 (as it forms part of the domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018). No information in this announcement should be construed as recommending or suggesting an investment strategy. Nothing in this announcement or in any related materials is a statement of or indicates or implies any specific or probable value outcome in any particular circumstance.

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May 31, 2023 10:15 ET (14:15 GMT)

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