NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").  

FOR IMMEDIATE RELEASE

10 September 2024

No intention to make an offer for Capital & Regional plc ("Capital & Regional")

Following the announcement made on 19 July 2024 by Praxis Group Limited ("Praxis") in relation to a possible offer by Praxis for the entire issued and to be issued ordinary share capital of Capital & Regional, Praxis confirms that it does not intend to make an offer for Capital & Regional.

This is a statement to which Rule 2.8 of the Code applies.

Under Note 2 on Rule 2.8 of the Code, Praxis reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

a)   with the agreement of the board of Capital & Regional;

b)   if a third party, including NewRiver REIT plc, announces a firm intention to make an offer for Capital & Regional

c)   if Capital & Regional announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and

d)   if there has been a material change of circumstances (as determined by the Takeover Panel)

Enquiries:

Praxis Group Limited                                                                                       +44 (0) 207 781 8030

James Hewitt (Chief Operating Officer)