Anexo Group plc (LON:ANX) has today announced that it has received an approach from DBAY Advisors Limited regarding a possible cash offer for the entire issued and to be issued ordinary shares of the Company (save for those already owned by DBAY) by a newly incorporated entity jointly controlled by funds managed or advised by DBAY.
On the basis of the DBAY proposal, the board of Anexo has granted DBAY due diligence access, and DBAY has indicated an offer price of 150 pence per ordinary share in cash. While the structure of the possible offer is not yet confirmed, the status of Alan Sellers, Executive Chairman, and Samantha Moss, Managing Director, Bond Turner, as joint offerors to DBAY’s possible offer is under consideration.
In accordance with Rule 2.6(a) of the Code, DBAY must, by no later than 5.00 p.m. on 21 July 2021, either announce a firm intention to make an offer for Anexo in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
DBAY reserves the right to introduce other forms of consideration and/or vary the form and/or mix of the consideration of any offer, as well as the structure of such an offer. DBAY also reserves the right to reduce the offer consideration by the amount of any dividend (or other distribution) which is paid or becomes payable by Anexo to Anexo shareholders after the date of this announcement, save for the final 1 pence dividend per Ordinary Share announced on 27 April 2021.
This announcement has been made with the consent of DBAY.
Anexo Group will make a further announcement if and when appropriate.
