TIDMVTY

RNS Number : 3357S

Vistry Group PLC

08 March 2023

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(B) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

8 March 2023

Vistry Group PLC

Rule 19.6(b) update to stated post-offer intention statements with regard to Countryside Partnerships plc (now renamed Countryside Partnerships Limited)

Vistry Group plc ("Vistry") announces that, further to the completion of its recommended cash and share offer for Countryside Partnerships plc (now Countryside Partnerships Limited) ("Countryside" and the "Combination", respectively), which was effected by way of scheme of arrangement under Part 26 of the Companies Act 2006, on 11 November 2022, a different course of action has been taken from one of the post-offer statements of intent made by Vistry pursuant to Rules 2.7(c)(viii) and 24.2 of the Code, as set out in its announcement made under Rule 2.7 of the Code on 5 September 2022 as well as in Vistry's circular and prospectus and Countryside's scheme document each dated 7 October 2022 (together, the "Offer Documents").

This announcement is required under Rule 19.6(b) of the Code.

As set out in the Offer Documents, the relevant stated intention provided that, in order to ensure continuity and assist with the preliminary stages of the integration of the Combined Group, Mike Woolliscroft, then Co-interim Chief Executive Officer of the Countryside Group, intended to remain with the Combined Group for an interim period (and that his employment would continue from Completion of the Combination until 31 May 2023).

It has subsequently been decided by the board of directors of Vistry that Mr Woolliscroft will remain with the Combined Group in a permanent role in the capacity of Group Business Improvement Director and London Divisional Chair. Mr Woolliscroft will be responsible for the Vistry Group's Countryside Partnerships business in London, reporting to the CEO, Countryside Partnerships and also responsible for business improvement and development objectives reporting to the Chief Operating Officer. Mr Woolliscroft will also join the Combined Group's Executive Leadership Team.

Greg Fitzgerald, CEO commented

"Mike is a highly capable and respected leader in partnerships and urban regeneration and has a deep understanding of the Countryside Partnerships business. The Board and I are delighted that he is joining the Vistry Executive Leadership Team to help lead the business over the exciting years ahead."

The revision included above does not impact Vistry's fundamental rationale for the Combination.

Capitalised terms used but not defined in this announcement have the meanings set out in Countryside's scheme document dated 7 October 2022.

Enquiries:

 
 Vistry 
 Earl Sibley, Chief Operating Officer 
  Clare Bates, General Counsel & Company Secretary 
  Susie Bell, Head of Investor Relations              +44 16 7543 7160 
 

Vistry's legal entity identifier is 2138001KOWN7CG9SLK53.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

OUPFZGGFDRDGFZM

(END) Dow Jones Newswires

March 08, 2023 09:41 ET (14:41 GMT)

Bovis Homes (LSE:BVS)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Bovis Homes.
Bovis Homes (LSE:BVS)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Bovis Homes.