Augean plc
(“Augean” or the “Company”)
Offer update – extension to PUSU Deadline
On 27 May 2021, Morgan Stanley Infrastructure Inc. (“MSI”) announced that it was in the preliminary stages of considering making an approach to Augean regarding a possible offer for the entire issued and to be issued share capital of Augean. The announcement stated that, in accordance with Rule 2.6(a) of the Code, MSI was required, by not later than 5.00 p.m. (London time) on 24 June 2021, to do one of the following: (i) announce a firm intention to make an offer for Augean in accordance with Rule 2.7 of the Code; or (ii) announce that it does not intend to make an offer for Augean, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.
Discussions are ongoing between MSI and Augean and, to allow further time for these discussions to take place, the Board of Augean has requested that the Panel on Takeovers and Mergers (the “Panel”) extend the PUSU Deadline.
In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, MSI is required, by not later than 5.00pm on 22 July 2021, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to 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 may be extended with the consent of the Panel, at Augean's request, in accordance with Rule 2.6(c) of the Code.