Candy Ventures Sarl No intention to make an offer for Capco (6532T)

TIDMCAPC

RNS Number : 6532T

Candy Ventures Sarl

15 November 2019

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

FOR IMMEDIATE RELEASE

15 November 2019

Statement from Candy Ventures Sarl

No intention to make an offer for Capital & Counties Properties plc

Following the statement on 21 October 2019 in which Candy Ventures Sarl ("Candy Ventures") confirmed that it was in the early stages of considering a possible cash offer for the entire issued and to be issued share capital of Capital & Counties Properties plc ("Capco"), Candy Ventures notes the announcement made today by Capco concerning the sale of its interests in Earls Court to APG and Delancey. Candy Ventures therefore confirms that it does not intend to make an offer for Capco.

This is a statement to which Rule 2.8 of the Code applies. Accordingly Candy Ventures and any person acting in concert with it will, except with the consent of the Panel on Takeovers and Mergers, be bound by the restrictions under Rule 2.8 of the Code.

Under Note 2 on Rule 2.8 of the Code, Candy Ventures, and any person acting in concert with Candy Ventures, reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances: (i) with the agreement of the board of Capco; (ii) if a third party announces a firm intention to make an offer for Capco; (iii) if Capco announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or (iv) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).

Enquiries:

   Candy Ventures                                        Tel: [phone] 

Jessica Patrick

Edelman (PR)

   Iain Dey                                                   Tel: [phone] 
   Rob Yates                                                Tel: [phone] 
   Deutsche Bank (Financial Adviser)        Tel: [phone] 

James Ibbotson

Chris Raff

Charles Wilkinson (Corporate Broking)

Additional information

This communication is not intended to and does not constitute an offer to buy or the solicitation of an offer to subscribe for or sell or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdictions.

Important notices

Deutsche Bank AG ("Deutsche Bank") is authorised under German Banking Law (competent authority: European Central Bank) and, in the United Kingdom, by the Prudential Regulation Authority. It is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority, and is subject to limited regulation in the United Kingdom by the Prudential Regulation Authority and Financial Conduct Authority. Neither Deutsche Bank nor any of its subsidiaries, branches or affiliates will be responsible to any person other than Candy Ventures for providing any of the protections afforded to clients of Deutsche Bank nor for providing advice in relation to any matters referred to in this announcement. Neither Deutsche Bank nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Deutsche Bank in connection with this announcement, any statement contained herein, or otherwise. Deutsche Bank, acting through its London branch, is acting as financial adviser to Candy Ventures and no other person in connection with the contents 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 [e-mail] or visit www.rns.com.

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November 15, 2019 12:59 ET (17:59 GMT)