Statement re Possible Offer from Kohlberg Kravis Roberts & Co. Partners L.L.P. (“KKR”)
The Board of Assura plc (“Assura” or the “Company”) notes the announcement from KKR yesterday relating to the indicative, non-binding proposal that it submitted to the Assura Board on 13 February 2025 regarding a possible cash offer for the entire issued share capital of the Company at 48 pence per share (the “Proposal”).
The Board confirms that it considered the Proposal carefully with its advisers and concluded that it materially undervalued the Company and its prospects and therefore rejected it unanimously. No further proposal from KKR has been received.
The Board of Assura also notes the announcement yesterday from USS Investment Management Limited (as agent for and on behalf of Universities Superannuation Scheme Limited (acting in its capacity as sole corporate trustee of the Universities Superannuation Scheme)) (“USSIM”) of its intention not to make an offer for Assura, as part of a consortium with KKR or otherwise, other than in the circumstances set out in USSIM’s announcement.
The Board remains confident in the long-term prospects of the Company and believes that Assura is strongly positioned to create value for shareholders.
Shareholders are advised to take no action.
A further announcement will be made as appropriate.
Under Rule 2.6(a) of the Code, KKR must by no later than 5.00 p.m. on 14 March 2025, either announce a firm intention to make an offer for Assura 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 will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.