Augean plc
(“Augean” or the “Company”)
Offer update – further 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.
On 24 June 2021, Augean announced an extension to the PUSU deadline until 5.00pm on 22 July had been granted by the Panel on Takeovers and Mergers (the “Panel”).
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 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 19 August 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 further extended with the consent of the Panel, at Augean's request, in accordance with Rule 2.6(c) of the Code.
There can be no certainty either that an offer will be made nor as to the terms of any offer, if made.
A further announcement will be made when appropriate. This announcement has been made with the consent of MSI.
The person responsible for releasing this announcement on behalf of Augean is Angela McGhin, Company Secretary.