TIDMNTBR TIDMTTM

RNS Number : 7807N

Northern Bear Plc

26 September 2019

Not for release, publication or distribution, in whole or in part, DIRECTLY OR INDIRECTLY in, into or from the United States, Canada, Australia or Japan OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

26 September 2019

Northern Bear plc

("Northern Bear" or the "Company")

Response to Tender Offer by Cedarvale Holdings Ltd

The Directors of Northern Bear ("Directors" or the "Board") note today's announcement by Cedarvale Holdings Ltd ("Cedarvale") of its intention to acquire up to 5,400,000 ordinary shares of 1p each in the capital of the Company ("Northern Bear Shares"), representing, together with the shares held by Cedarvale's beneficial owner, up to 29.6 per cent. of Northern Bear's issued share capital, by way of an unsolicited tender offer (the "Tender Offer") at a price of 72 pence per share.

Shareholders should note that if Cedarvale were to acquire all of the Northern Bear Shares it is tendering for or more than 25 per cent. of the Company's share capital it would, thereafter, be able to unilaterally veto any special resolutions proposed by the Board.

The Board was not made aware of the Tender Offer until late on 25 September 2019. The Board takes no position at this time with respect to the Tender Offer and Shareholders who are in any doubt about the Tender Offer or what action to take are recommended to consult a an independent professional adviser duly authorised under the Financial Services and Markets Act 2000 who specialises in advising on the acquisition of shares and other securities before taking any action.

Further announcements will be made as and when appropriate.

For further information, please contact:

 
 Northern Bear PLC 
  Steve Roberts - Executive Chairman 
  Tom Hayes - Finance Director                           +44 (0) 166 182 0369 
 Strand Hanson Limited (Nominated Adviser and Broker) 
  James Harris 
  James Spinney 
  James Bellman                                          +44 (0) 20 7409 3494

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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September 26, 2019 05:20 ET (09:20 GMT)

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