THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014
FOR IMMEDIATE RELEASE
6 April 2018
Shire Leasing PLC ("Shire Leasing" or the "Company")
Conclusion of strategic review and expiration of Offer Period
The Board of Shire Leasing is providing an update on its strategic review announced on 1 November 2017.
The strategic review identified potential investors, however the Board believes that none of these proposals appropriately reflected and supported the organic growth potential of the Group. As a result, the Board has decided that it is in the best interest of shareholders, employees and clients to continue as an independent company, continuing to develop the existing platforms and fund a greater proportion of proposals on own book. As such, Shire Leasing has terminated discussions with any third party in relation to a corporate transaction, such as a merger with or sale of the Company and the Formal Sale Process has now been terminated.
The Company is therefore no longer in an offer period for the purposes of the Takeover Code and, accordingly, the requirement to make disclosures under Rule 8 of the Code has now ceased.
For further information, please contact:
Sukhi Johal, RSM Corporate Finance LLP +44 (0) 121 214 3100
James Lewis, RSM & Co (UK) Limited +44 (0) 203 201 8000
RSM & Co (UK) Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Shire Leasing in connection with the matters set out in this announcement and for no one else and will not be responsible to anyone other than Shire Leasing for providing the protections afforded to its clients or for providing advice in relation to the matters set out in this announcement.
Notes to Editors
Shire Leasing plc, is a leading independent provider of financial services, serving UK based Small and Medium sized Enterprises, specialising in asset finance and leasing solutions of business critical equipment. Over the course of its 27 year history, Shire Leasing has established a strong brand name for providing innovative and flexible funding solutions.
This information is provided by RNS