Redde Northgate Plc Rule 19.6(b) update

 
TIDMREDD 
 
1 May 2020 
 
                              Redde Northgate plc 
                              ("Redde Northgate") 
 
         Rule 19.6(b) update to stated post-offer intention statement 
 
Redde Northgate plc announces that, further to the completion of the merger of 
Redde Plc and Northgate Plc on 21 February 2020 (the  "Merger"), certain 
courses of action have been taken which differ from its statements of intent 
made pursuant to Rule 2.7(c)(iv) and 24.2(a)(iii) of the City Code on Takeovers 
and Mergers (the "Stated Intentions") which were set out in its announcement of 
29 November 2019 and the scheme document published in connection with the 
Merger on 12 December 2020 (together, the "Offer Documentation"). 
 
This announcement is required under Rule 19.6(b) of the City Code on Takeovers 
and Mergers. 
 
The Stated Intentions included Redde Northgate's intention, as at the date of 
the Offer Documentation, to make no material changes to the employment 
conditions of employees of Redde plc. 
 
In light of the COVID-19 pandemic Redde Northgate has taken steps to furlough 
certain employees.  This has included employees who joined Redde Northgate from 
Redde at the completion of the Merger.  The current terms of such furlough 
arrangements reflect the relevant guidelines issued by the UK government. Redde 
Northgate is keeping such arrangements under review. It intends them to be 
temporary and to end the furlough arrangements when appropriate. 
 
The contractual rights of Redde Northgate employees will otherwise continue to 
be maintained. 
 
 
                                    -Ends- 
 
For further information, contact: 
 
Buchanan 
 
David Rydell/Jamie Hooper/Tilly Abraham          [phone] 
 
Notes to Editors: 
 
Redde Northgate plc is a leading integrated mobility solutions platform formed 
in February 2020 following the all-share merger of light commercial hire 
business Northgate plc and Redde plc, the provider of incident and accident 
management, legal and other mobility-related services. 
 
The Group provides mobility solutions and automotive services to a wide range 
of businesses and customers spanning the vehicle life cycle across vehicle 
supply, service, maintenance, repair, recovery, accident and incident 
management and disposal through sale or salvage. 
 
With an extensive network and diversified fleet of over 110,000 owned vehicles 
and over 400,000 managed vehicles in more than 100 branches across the UK, 
Ireland and Spain, the Group aims to utilise its scale, reach and comprehensive 
suite of integrated services to offer a market-leading customer proposition and 
drive enhanced returns for shareholders. 
 
Further information regarding Redde Northgate plc can be found on the Company's 
website: 
 
www.reddenorthgate.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

May 01, 2020 12:17 ET (16:17 GMT)