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 SUCH JURISDICTION
FOR
IMMEDIATE RELEASE
16 JULY
2024
RECOMMENDED
FINAL[1] CASH
ACQUISITION
of
ALPHA FINANCIAL MARKETS
CONSULTING PLC ("ALPHA FMC")
by
ACTIUM BIDCO (UK) LIMITED
("BIDCO")
an indirect subsidiary of
certain funds managed by Bridgepoint Advisers
Limited
(to be effected by way of a
scheme of arrangement under Part 26 of the Companies Act
2006)
Publication and Posting of
Scheme Document
Introduction
On 20 June 2024, the Boards of Alpha
FMC and Bidco announced that they had reached agreement on the
terms and conditions of a recommended final1 cash offer
by Bidco, an indirect subsidiary of certain funds managed by
Bridgepoint Advisers Limited, to acquire the entire issued and to
be issued ordinary share capital of Alpha FMC (the
"Acquisition"). The Acquisition is intended to be implemented by way of a
Court-sanctioned scheme of arrangement under Part 26 of the
Companies Act 2006.
Publication and posting of the Scheme
Document
The Alpha FMC Board announces that
it has published a circular in relation to the Acquisition (the
"Scheme
Document"),
together with the Forms of Proxy for the Court Meeting and the
General Meeting. The Scheme Document sets out, amongst other
things, the full terms and conditions of the Scheme, an explanatory
statement pursuant to section 897 of the Companies Act 2006, an
expected timetable of principal events, notices of the Court
Meeting and General Meeting and details of the actions to be taken
by Alpha FMC Shareholders. Capitalised terms used in this
announcement shall, unless otherwise defined, have the same meaning
as set out in the Scheme Document.
Hard copies of the Scheme Document
and Forms of Proxy for the Court Meeting and the General Meeting
are being posted to Alpha FMC Shareholders and, for information
only, to persons with information rights. Alpha FMC will also be
sending details of the proposals being made to participants in the
Alpha FMC Share Plans to such participants.
Notices of the Court Meeting and General
Meeting
As further detailed in the Scheme
Document, to become Effective the Scheme requires, among other
things that the requisite majorities of:
· Scheme
Shareholders vote in favour of the Scheme at the Court
Meeting;
· Alpha
FMC Shareholders vote in favour of the Special Resolution at the
General Meeting; and
· Alpha
FMC Independent Shareholders vote in favour of the Rule 16.2
Resolution at the General Meeting.
The Scheme is also subject to the
satisfaction or (where applicable) waiver of the Conditions and
further terms set out in the Scheme Document.
Notices convening the Court Meeting
and the General Meeting, both to be held at the offices of
Addleshaw Goddard LLP, Milton Gate, 60 Chiswell Street, London EC1Y
4AG on 12 August 2024 are set out in the Scheme Document. The Court
Meeting will start at 10:00 a.m. and the General Meeting at 10:15
a.m. (or as soon as reasonably practicable thereafter as the Court
Meeting shall have been concluded or adjourned). Forms of Proxy for
use at such meetings will be enclosed with the Scheme
Document.
The Alpha FMC Independent Directors,
who have been so advised by Investec and Berenberg as to the
financial terms of the Acquisition, consider the terms of the
Acquisition to be fair and reasonable. In providing advice to the
Alpha FMC Independent Directors, Investec and Berenberg have taken
into account the commercial assessments of the Alpha FMC
Independent Directors. Investec is providing independent financial
advice to the Alpha FMC Independent Directors for the purposes of
Rule 3 of the Code.
Accordingly, the Alpha FMC Independent Directors unanimously
recommend that Scheme Shareholders vote in favour of the Scheme at
the Court Meeting, Alpha FMC Shareholders vote in favour of the
Special Resolution and Alpha FMC Independent Shareholders vote in
favour of the Rule 16.2 Resolution at the General Meeting, as the
Alpha FMC Independent Directors who have an interest in Alpha FMC
Shares have irrevocably undertaken to do in respect of their entire
beneficial holdings of 196,397 Alpha FMC Shares, in aggregate,
representing approximately 0.16 per cent. of Alpha FMC's issued
share capital as at the Last Practicable Date.
It
is important that, for the Court Meeting in particular, as many
votes as possible are cast, so that the Court may be satisfied that
there is a fair representation of Scheme Shareholders' opinion.
Scheme Shareholders are therefore strongly urged to complete, sign
and return their Forms of Proxy or appoint a proxy either: (a) by
post or by hand to Alpha FMC's registrar, Computershare, at
Computershare Investor Services PLC, The Pavilions, Bridgwater
Road, Bristol BS13 8AE, United Kingdom; or (b) through CREST; or
(c) electronically through the share portal service
at www.investorcentre.co.uk/eproxy,
in any case as
soon as possible.
Scheme Shareholders should read the
Scheme Document in its entirety before making a decision in respect
of the Scheme.
Delisting of Alpha FMC Shares
If the Scheme is approved by the
Scheme Shareholders and the Resolutions are approved by Alpha FMC
Shareholders, the Court sanctions the Scheme, all other Conditions
to the Acquisition are satisfied or (if capable of waiver) waived
and the Scheme becomes Effective in accordance with its terms,
then, under the anticipated timetable, it is expected that dealings
in Alpha FMC Shares will be suspended at 7:30 a.m. on 19 August
2024, the second Business Day following the Sanction Hearing, the
Scheme will become Effective on the same day and the cancellation
of the admission to trading of Alpha FMC Shares on AIM will take
effect by 8:00 a.m. on 20 August 2024, the following Business
Day.
Expected Timetable of Principal Events
The Scheme Document contains an
expected timetable of principal events relating to the Scheme,
which is also set out below. The Scheme remains conditional on the
approval of Scheme Shareholders at the Court Meeting, the Special
Resolution and Rule 16.2 Resolution being passed by the requisite
majorities of Alpha FMC Shareholders and Alpha FMC Independent
Shareholders respectively at the General Meeting and the
satisfaction or waiver of the other Conditions set out in the
Scheme Document, including the sanction of the Court. The Scheme is
expected to become Effective in Q3
2024. Any update to the expected
timetable will be announced through a Regulatory Information
Service, with such announcement being made available on Alpha FMC's
website at https://alphafmc.com/alpha-offer-terms/
and on Bidco's website
at http://www.bridgepoint.eu/offer-for-alphafmc.
.
Event
|
Time and/or
date(1)
|
Publication of this document
Latest time for lodging Forms of Proxy for
the:
|
16 July
2024
|
Court Meeting (BLUE form)
|
10:00
a.m. on 8 August 2024(2)
|
General Meeting (WHITE
form)
|
10:15
a.m. on 8 August 2024(3)
|
Voting Record Time for the Court Meeting and the General
Meeting
|
6:00 p.m.
on 8 August 2024(4)
|
Court Meeting
|
10:00 a.m. on 12 August 2024
|
General Meeting
|
10:15 a.m.
on 12 August 2024 (5)
|
|
Sanction Hearing
|
15 August 2024
|
Last day of dealings in, and for
registration of transfers of, and disablement in CREST of,
Alpha FMC Shares
|
16 August
2024
|
Scheme Record Time
and Date
|
6:00 p.m.
on 16 August 2024
|
Dealings in Alpha FMC Shares
suspended
|
7:30 a.m.
on 19 August 2024
|
Effective Date of the
Scheme
|
19 August
2024
|
Cancellation of admission of Alpha
FMC Shares to trading on AIM
|
By 7:00 a.m. on 20 August 2024
|
Latest date for despatch of cheques
and crediting of CREST for consideration due under the
Scheme
|
Within 14
days of the Effective Date
|
Long Stop Date
|
20
December 2024(6)
|
Notes:
(1) All
times shown are London times unless otherwise stated. The dates and
times given are indicative only and are based on Alpha FMC's and
Bidco's current expectations and may be subject to
change
(2) It is
requested that BLUE Forms of Proxy for the Court Meeting be lodged
not later than 48 hours before the time appointed for the Court
Meeting, excluding any part of a day that is not a Business
Day. A copy of a completed and signed BLUE
Form of Proxy not so lodged may be handed to the representatives of
Computershare or the Chair of the Court Meeting before it is due to
commence and it will still be valid.
(3) WHITE
Forms of Proxy for the General Meeting must be lodged not later
than 48 hours before the time appointed for the General Meeting,
excluding any part of a day that is not a Business Day. WHITE Forms of Proxy for the General Meeting not
lodged by this time will be invalid.
(4) If the
Court Meeting is adjourned, the Voting
Record Time will be 6:00 p.m. on the day which is two days before
the date of the adjourned Court Meeting, excluding any part of a
day that is not a Business Day.
(5) To
commence at 10:15 a.m. (or as soon as reasonably practicable
thereafter) as the Court Meeting is concluded or
adjourned.
(6) This is
the latest date by which the Scheme may become Effective unless
Bidco and Alpha FMC agree (and the Panel and, if required, the
Court permit) a later date.
Dividends
If any dividend, other distribution
or return of capital is announced, authorised, declared, made or
paid, or becomes payable, in respect of Alpha FMC Shares on or
after the date of the Announcement and prior to the Effective Date,
Bidco will reduce the consideration payable for each Alpha FMC
Share by the amount of any such dividend, other distribution or
return of capital and, in respect of a dividend, other distribution
or return of capital that has not been paid, Alpha FMC Shareholders
shall be entitled to receive and retain any such dividend, other
distribution or return of capital.
Shareholder Helpline
If you have any questions about this
document, the Court Meeting or the General Meeting or how to
complete the Forms of Proxy or to appoint a proxy through the CREST
electronic proxy appointment service or online, please contact
Alpha FMC's registrar, Computershare, on 0370 707 1547 (from within
the UK) or on +44 (0)370 707 1547 (from outside the UK). Calls are
charged at the standard geographic rate and will vary by provider.
Calls outside the United Kingdom will be charged at the applicable
international rate. The helpline is open between 8:30 a.m. and 5:30
p.m., Monday to Friday excluding public holidays in England and
Wales. Please note that Computershare cannot provide any
financial, legal or tax advice and calls may be recorded and
monitored for security and training purposes.
Enquiries
Alpha FMC
Luc Baqué (Chief Executive
Officer)
John Paton (Chief Financial
Officer)
Georgina Sharley (Group Company
Secretary)
|
Tel: +44 (0)20 7796 9300
|
Investec Bank plc (Lead Financial Adviser, NOMAD and Joint
Corporate Broker to Alpha FMC)
James Rudd, Patrick Robb (Corporate
Broking and PLC Advisory)
Jonathan Arrowsmith, Edward Thomas
(M&A Advisory)
|
Tel: +44 (0)20 7597 4000
|
Berenberg (Joint Financial Adviser and Joint Corporate Broker
to Alpha FMC)
Toby Flaux
Miles Cox
James Thompson
Alix
Mecklenburg-Solodkoff
|
Tel: +44 (0)20 3207 7800
|
Camarco - Financial PR
Ed Gascoigne-Pees
Phoebe Pugh
|
Tel: +44 (0)20 3757 4980
|
Addleshaw Goddard LLP is acting as
legal adviser to Alpha FMC in connection with the
Acquisition.
Important notices
Investec Bank plc ("Investec"), which is authorised by
the Prudential Regulation Authority (the
"PRA") and regulated by the
Financial Conduct Authority and PRA in the United Kingdom, is
acting exclusively as lead financial adviser to Alpha FMC and for
no one else in connection with the Acquisition and will not be
responsible to any person other than Alpha FMC for providing the
protections afforded to clients of Investec, nor for providing
advice in relation to the Acquisition, the content of this document
or any matter referred to in this document. Neither Investec nor
any of its subsidiaries, branches or affiliates owes or accepts any
duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise)
to any person who is not a client of Investec in connection with
this document, any statement contained herein or
otherwise.
Joh. Berenberg, Gossler & Co. KG, London Branch
("Berenberg"), which is
authorised and regulated by the German Federal Financial
Supervisory Authority and is authorised and regulated by the FCA in
the United Kingdom, is acting exclusively for Alpha FMC and no one
else in connection with the Acquisition and other matters set out
in this document and will not be responsible to anyone other than
Alpha FMC for providing the protections afforded to clients of
Berenberg, or for providing advice in connection with the
Acquisition or any matter referred to herein. Neither Berenberg nor
any of its affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in
contract, in tort, under statute or otherwise) to any person who is
not a client of Berenberg in connection with this document, any
statement contained herein or otherwise.
Further
information
This announcement is for information purposes only and is not
intended to, and does not, constitute or form part of any offer or
invitation to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities or the solicitation of any
vote or approval in any jurisdiction pursuant to the Acquisition or
otherwise. The Acquisition will be made solely through the Scheme
Document (and the accompanying Forms of Proxy) or, in the event
that the Acquisition is to be implemented by means of a Takeover
Offer, the Takeover Offer document, which will contain the full
terms and conditions of the Acquisition, including, if applicable
details of how to vote in respect of the Scheme. Any decision in
respect of the Acquisition should be made only on the basis of the
information in the Scheme Document (or, if the Acquisition is
implemented by way of a Takeover Offer, the Takeover Offer
document).
This announcement does not constitute a prospectus
or a prospectus
exempted document.
This announcement has been prepared for the purpose of
complying with English law and the Code and the information
disclosed may not be the same as that which would have been
disclosed if this Announcement had been prepared in accordance with
the laws of jurisdictions outside England.
If
you are in any doubt about the contents of this announcement or the
action you should take, you are recommended to seek your own
independent financial advice immediately from your stockbroker,
bank manager, solicitor, accountant or independent financial
adviser duly authorised under FSMA if you are resident in the
United Kingdom or, if not, from another appropriately authorised
independent financial adviser.
Overseas
Shareholders
The release, publication or distribution of this announcement
in jurisdictions other than the UK may be restricted by law and
therefore any persons who are not resident in the UK or who are
subject to the laws of any jurisdiction other than the UK
(including Restricted Jurisdictions) should inform themselves
about, and observe, any applicable legal or regulatory
requirements. In particular, the ability of persons who are not
resident in the UK or who are subject to the laws of another
jurisdiction to participate in the Acquisition or to vote their
Alpha FMC Shares in respect of the Scheme at the Court Meeting, or
to execute and deliver Forms of Proxy appointing another to vote at
the Court Meeting on their behalf, may be affected by the laws of
the relevant jurisdictions in which they are located or to which
they are subject. Any failure to comply with applicable legal or
regulatory requirements of any jurisdiction may constitute a
violation of securities laws in that jurisdiction. To the fullest
extent permitted by applicable law, the companies and persons
involved in the Acquisition disclaim any responsibility or
liability for the violation of such restrictions by any
person.
Unless otherwise determined by Bidco or required by the Code,
and permitted by applicable law and regulation, the Acquisition
shall not be made available, directly or indirectly, in, into or
from a Restricted Jurisdiction where to do so would violate the
laws in that jurisdiction and no person may vote in favour of the
Acquisition by any such use, means, instrumentality or form within
a Restricted Jurisdiction or any other jurisdiction if to do so
would constitute a violation of the laws of that
jurisdiction.
The Acquisition will be subject to the applicable requirements
of English law, the Code, the Panel, the Court, the London Stock
Exchange and the FCA.
Copies of this announcement and any formal documentation
relating to the Acquisition are not being, and must not be,
directly or indirectly, mailed or otherwise forwarded, distributed
or sent in or into or from any Restricted Jurisdiction or any
jurisdiction where to do so would constitute a violation of the
laws of such jurisdiction and persons receiving such documents
(including custodians, nominees and trustees) must not mail or
otherwise forward, distribute or send them in or into or from any
Restricted Jurisdiction. Doing so may render invalid any related
purported vote in respect of acceptance of the
Acquisition.
Further details in relation to Alpha FMC Shareholders in
overseas jurisdictions are contained in the Scheme
Document.
Additional information for
U.S. investors
The Acquisition relates to shares of a company incorporated in
England & Wales and is being made by means of a scheme of
arrangement provided for under English company law. The
Acquisition, implemented by way of a scheme of arrangement, is not
subject to the tender offer rules or the proxy solicitation rules
under the U.S. Exchange Act, as amended. Accordingly, the
Acquisition is subject to the disclosure requirements and practices
applicable to a scheme of arrangement involving a target company in
the UK listed on the London Stock Exchange, which differ from the
disclosure requirements of the U.S. tender offer and proxy
solicitation rules. The financial information with respect to Bidco
included in this announcement and the Scheme Document has been or
will have been prepared in accordance with IFRS and thus may not be
comparable to the financial information of U.S. companies or
companies whose financial statements are prepared in accordance
with generally accepted accounting principles in the U.S. If, in
the future, Bidco exercises its right to implement the Acquisition
by way of a Takeover Offer and determines to extend the Takeover
Offer into the U.S., the Acquisition will be made in compliance
with applicable U.S. laws and regulations.
Neither the SEC nor any U.S. state securities commission has
approved, disproved or passed judgment upon the fairness or the
merits of the Acquisition or determined if this announcement is
adequate, accurate or complete. Any representation to the contrary
is a criminal offence in the U.S.
Some or all of Alpha FMC's officers and directors reside
outside the U.S., and some or all of its assets are or may be
located in jurisdictions outside the U.S. Therefore, investors may
have difficulty effecting service of process within the U.S. upon
those persons or recovering against Alpha FMC or its officers or
directors on judgments of U.S. courts, including judgments based
upon the civil liability provisions of the U.S. federal securities
laws. Further, it may be difficult to compel a non-U.S. company and
its affiliates to subject themselves to a U.S. court's judgment. It
may not be possible to sue Alpha FMC or its officers or directors
in a non-U.S. court for violations of the U.S. securities
laws.
In
accordance with normal United Kingdom practice and pursuant to Rule
14e-5(b) of the U.S. Exchange Act, Bidco or its nominees, or its
brokers (acting as agents), may from time to time make certain
purchases of, or arrangements to purchase, shares or other
securities of Alpha FMC outside of the U.S., other than pursuant to
the Acquisition, until the date on which the Acquisition and/or
Scheme becomes effective, lapses or is otherwise withdrawn. These
purchases may occur either in the open market at prevailing prices
or in private transactions at negotiated prices. Any information
about such purchases or arrangements to purchase shall be disclosed
as required in the UK, shall be reported to a Regulatory
Information Service and shall be available on the London Stock
Exchange website at www.londonstockexchange.com.
The receipt of cash pursuant to the Scheme by U.S. Alpha FMC
Shareholders as consideration for the transfer of Alpha FMC Shares
pursuant to the Scheme may be a taxable transaction for U.S.
federal income tax purposes and under applicable U.S. state and
local, as well as foreign and other, tax laws. Each Alpha FMC
Shareholder (including U.S. Alpha FMC Shareholders) is urged to
consult their independent professional adviser immediately
regarding the tax consequences of the transaction applicable to
them.
Forward-looking
statements
This announcement (including information incorporated by
reference in this announcement), oral statements made regarding the
Acquisition, and other information published by Bridgepoint, Bidco
and/or Alpha FMC contain statements which are, or may be deemed to
be, "forward-looking statements". All statements, other than
statements of historical fact are, or may be deemed to be,
forward-looking statements. Forward-looking statements are
prospective in nature and are not based on historical facts, but
rather on assumptions, expectations, valuations, targets,
estimates, forecasts and projections of Bridgepoint, Bidco and/or
Alpha FMC about future events, and are therefore subject to risks
and uncertainties which could cause actual results, performance or
events to differ materially from those expressed or implied by the
forward-looking statements. The forward-looking statements
contained in this announcement include statements relating to the
expected effects of the Acquisition on Bridgepoint, the Wider Bidco
Group, the Wider Alpha FMC Group and the Enlarged Group, the
expected timing and scope of the Acquisition and other statements
other than historical facts. Often, but not always, forward-looking
statements can be identified by the use of forward-looking words
such as "plans", "expects", "budget", "targets", "aims",
"scheduled", "estimates", "forecast", "intends", "anticipates",
"seeks", "prospects", "potential", "possible", "assume" or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "should",
"would", "might" or "will" be taken, occur or be achieved. Neither
Bridgepoint, Bidco nor Alpha FMC give any assurance that such
expectations will prove to be correct. By their nature,
forward-looking statements involve risks (known and unknown) and
uncertainties (and other factors that are in many cases beyond the
control of Bridgepoint, Bidco and/or Alpha FMC) because they relate
to events and depend on circumstances that may or may not occur in
the future.
There are a number of factors that could affect the future
operations of Bridgepoint, the Wider Bidco Group, the Wider Alpha
FMC Group and/or the Enlarged Group and that could cause actual
results and developments to differ materially from those expressed
or implied by such forward-looking statements. These factors
include the satisfaction (or, where permitted, waiver) of the
Conditions, as well as additional factors, such as: domestic and
global business and economic conditions; the impact of pandemics,
asset prices; market‑related risks such as fluctuations in interest
rates and exchange rates, industry trends, competition, changes in
government and regulation, changes in the policies and actions of
governments and/or regulatory authorities (including changes
related to capital and tax), changes in political and economic
stability (including exposures to terrorist activities, the UK's
exit from the European Union, Eurozone instability, disruption in
business operations due to reorganisation activities, interest
rate, inflation, deflation and currency fluctuations), the timing
impact and other uncertainties of future or planned acquisitions or
disposals or offers, the inability of the Enlarged Group to realise
successfully any anticipated synergy benefits when the Acquisition
is implemented (including changes to the board and/or employee
composition of the Enlarged Group), the inability of the Bidco
Group to integrate successfully the Alpha FMC Group's operations
and programmes when the Acquisition is implemented, the Enlarged
Group incurring and/or experiencing unanticipated costs and/or
delays (including IT system failures, cyber-crime, fraud and
pension scheme liabilities), or difficulties relating to the
Acquisition when the Acquisition is implemented. Other unknown or
unpredictable factors could affect future operations and/or cause
actual results to differ materially from those in the
forward-looking statements. Such forward-looking statements should
therefore be construed in the light of such
factors.
Each forward-looking statement speaks only as of the date of
this announcement. Neither Bridgepoint, the Bidco Group nor the
Alpha FMC Group, nor any of their respective members, partners,
associates or directors, officers or advisers, provides any
representation, warranty, assurance or guarantee that the
occurrence of the events expressed or implied in any
forward-looking statements in this announcement will actually
occur. Forward-looking statements involve inherent risks and
uncertainties. All forward-looking statements contained in this
announcement are expressly qualified in their entirety by the
cautionary statements contained or referred to in this section.
Readers are cautioned not to place undue reliance on these
forward-looking statements. Other than in accordance with their
legal or regulatory obligations (including under the Code, the UK
Market Abuse Regulation, the AIM Rules and the DTRs), neither
Bridgepoint, the Wider Bidco Group nor the Wider Alpha FMC Group is
under or undertakes any obligation, and each of the foregoing
expressly disclaims any intention or obligation, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
No profit forecasts or
estimates
Nothing in this announcement is intended, or is to be
construed, as a profit forecast or to be interpreted to mean that
earnings or earnings per share for Bidco or Alpha FMC for the
current or future financial years, will necessarily match or exceed
the historical published earnings or earnings per share for Bidco
or Alpha FMC, as appropriate.
Disclosure requirements of
the Code
Under Rule 8.3(a) of the Code, any person who is
interested in 1 per cent. or more of any class of relevant
securities of an offeree company or of any securities exchange
offeror (being any offeror other than an offeror in respect of
which it has been announced that its offer is, or is likely to be,
solely in cash) must make an Opening Position Disclosure following
the commencement of the offer period and, if later, following the
announcement in which any securities exchange offeror is first
identified. An Opening Position Disclosure must contain details of
the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree
company and (ii) any securities exchange offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies
must be made by no later than 3.30 p.m. on the tenth business
day following the commencement of the offer period and, if
appropriate, by no later than 3.30 p.m. on the tenth business
day following the announcement in which any securities exchange
offeror is first identified. Relevant persons who deal in the
relevant securities of the offeree company or of a securities
exchange offeror prior to the deadline for making an Opening
Position Disclosure must instead make a Dealing
Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or
becomes, interested in 1 per cent. or more of any class of relevant
securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the
dealing concerned and of the person's interests and short positions
in, and rights to subscribe for, any relevant securities of each of
(i) the offeree company and (ii) any securities exchange
offeror(s), save to the extent that these details have previously
been disclosed under Rule 8. A Dealing Disclosure by a person
to whom Rule 8.3(b) applies must be made by no later than
3.30 p.m. on the business day following the date of the
relevant dealing.
If
two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a
single person for the purpose of
Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of
whose relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
Electronic
Communications
Please be aware that addresses, electronic addresses and
certain information provided by Alpha FMC Shareholders, persons
with information rights and other relevant persons for the receipt
of communications from Alpha FMC may be provided to Bidco during
the Offer Period as required under section 4 of Appendix 4 to the
Code.
Publication on a website and
availability of hard copies
This announcement and the documents required to be published
pursuant to Rule 26 of the Code will be available, subject to
certain restrictions relating to persons resident
in Restricted Jurisdictions, on
Bidco's website at
www.bridgepoint.eu/offer-for-alphafmc
and on Alpha
FMC's website at https://alphafmc.com/alpha-offer-terms/
promptly and in
any event by no later than 12 noon on the Business Day
following the date of this announcement. Neither the content of
the websites referred to in this announcement nor the content of
any website accessible from hyperlinks in this announcement is
incorporated into, or forms part of, this
announcement.
Alpha FMC Shareholders may, subject to applicable
securities laws, request a hard copy of this announcement (and any
information incorporated into it by reference to another source) by
contacting Alpha FMC's registrars, Computershare Investor Services
PLC, during business hours on
0370 707 1547 within the United Kingdom or on +44 (0)370 707 1547
from overseas or by submitting a request in writing
to Computershare Investor Services
PLC, The Pavilions, Bridgwater Road, Bristol BS13 8AE, United
Kingdom, with an address to which the hard copy may be sent. Alpha
FMC Shareholders may, subject to applicable
securities laws, also request that all future documents,
announcements and information to be sent in relation to the
Acquisition should be in hard copy form.
Rounding
Certain figures included in this announcement have been
subjected to rounding adjustments. Accordingly, figures shown for
the same category presented in different tables may vary slightly
and figures shown as totals in certain tables may not be an
arithmetic aggregation of the figures that precede
them.