Purplebricks Group PLC Statement regarding Lecram Holdings Limited (1661B)

TIDMPURP

RNS Number : 1661B

Purplebricks Group PLC

31 May 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS CONSIDERED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 AS INCORPORATED INTO UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION WILL BE CONSIDERED TO BE IN THE PUBLIC DOMAIN.

FOR IMMEDIATE RELEASE

31 May 2023

Purplebricks Group plc

("Purplebricks" or the "Company")

Statement regarding Lecram Holdings Limited

Purplebricks announces, further to the announcement on 26 May 2023 outlining an indicative proposal from Lecram Holdings Limited ("Lecram") to acquire the entire issued, and to be issued, share capital of the Company (the "Proposal"), Lecram have informed the Board that they have withdrawn their Proposal and at the current time do not intend to make an offer for Purplebricks.

With regard to the proposed sale of business and assets to Strike Limited (the "Proposed Sale"), the Board continues to recommend the Company's shareholders vote in favour the resolutions being proposed at its general meeting to take place on 2 June 2023 in order to implement the Proposed Sale.

This announcement has been made without the consent of Lecram.

 
 Enquiries 
 
  For further information, please contact: 
 Purplebricks 
 Helena Marston (CEO)                       Via M7 Communications Ltd 
  Dominique Highfield (CFO) 
 
 Zeus (Financial Adviser, Nominated Adviser and Broker) 
 Jamie Peel, James Hornigold (Investment 
  Banking)                                  + 44 (0)20 3829 5000 
 Ben Robertson (Corporate Broking) 
 
 PricewaterhouseCoopers LLP (Financial 
  Adviser)                                  [phone] 
 Jon Raggett 
 
 
 M7 Communications 
 Mark Reed           + 44 (0) 7903 089 543 
                      [e-mail] 
 

The person responsible for arranging for the release of this announcement on behalf of the Company is Dominique Highfield, Chief Financial Officer.

About Purplebricks

Purplebricks is a leading technology-led estate agency business, based in the UK. Purplebricks combines highly experienced and professional Local Property Partners and innovative technology to help make the process of selling, buying or letting more convenient, transparent and cost effective. Purplebricks shares are traded on the London Stock Exchange AIM market.

Additional information

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise. Any offer, if made, will be made solely by certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be accepted. The distribution of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to shareholders of Purplebricks who are not resident in the United Kingdom may be affected by the laws of relevant jurisdictions. Therefore, any persons who are subject to the laws of any jurisdiction other than the United Kingdom or shareholders of Purplebricks who are not resident in the United Kingdom will need to inform themselves about, and observe any applicable requirements.

Notice related to financial adviser

Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Purplebricks and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Purplebricks for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

PwC is authorised and regulated in the United Kingdom by the Financial Conduct Authority ("FCA") and is acting exclusively for the Purplebricks and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Purplebricks for providing the protections afforded to its clients nor for providing advice in relation to the subject matter of this announcement.

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May 31, 2023 04:28 ET (08:28 GMT)