INCREASED RECOMMENDED ALL CASH OFFER for AUGEAN PLC
by Antwerp Management Limited
(a newly-formed company indirectly owned by funds managed or advised by Morgan Stanley Infrastructure Inc., an indirect subsidiary of Morgan Stanley) to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 Increased all cash offer of 340 pence per Augean Share No change to MSIP Bidco's intention statements regarding Augean's business
The boards of Augean Plc (“Augean” or the “Company”) and Antwerp Management Limited (“MSIP Bidco”) are pleased to announce that they have agreed the terms of an increased recommended all cash offer for Augean by MSIP Bidco pursuant to which MSIP Bidco will acquire the entire issued and to be issued share capital of Augean at a price of 340 pence per Augean Share (the “Increased MSIP Offer”). The announcement of the Increased MSIP Offer follows the announcement made on 30 July 2021 of an offer for the entire issued and to be issued ordinary share capital of Augean by MSIP Bidco at a price of 280 pence per Augean Share, with a contingent entitlement of up to a further 20 pence in loan notes by way of a contingent value right linked to the outcome of the Outstanding Tax Claims (the “Original MSIP Offer”).