In accordance with Rule 2.6(a) of the Code, each of Apollo Global Management and Bain Capital were required, by not later than 5.00 p.m. on 3 December 2018, to either announce a firm intention to make an offer for the Company 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.
Discussions remain ongoing with Apollo Global Management and in accordance with Rule 2.6(c) of the Code, the Board of RPC requested that the Panel on Takeovers and Mergers (the “Panel”) extend the deadline referred to above with respect to Apollo Global Management to enable continued discussions to take place. Accordingly, an extension has been granted by the Panel and Apollo Global Management must, by no later than 5.00 p.m. on 21 December 2018, either announce a firm intention to make an offer for RPC 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.
RPC and Bain Capital have mutually agreed to terminate discussions. In accordance with Rule 2.6(a) of the Code, Bain Capital is required, by not later than 5.00 p.m. on 3 December 2018, to either announce a firm intention to make an offer for the Company 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. In the case of Bain Capital, the Board of RPC has not requested an extension of this deadline from the Panel.
A further announcement will be made when appropriate. There can be no certainty that any offer will be made for the Company, nor as to the terms on which any offer might be made.