Source - LSE Regulatory
RNS Number : 4367O
DBAY Advisors Limited
15 May 2024
 

15 May 2024

 

 DBAY Advisors Limited

 

Response re possible all-share offer for The MISSION Group plc

 

DBAY Advisors Limited ("DBAY") notes the announcements dated 13 May 2024 by The MISSION Group plc ("MISSION") and Brave Bison Group plc ("Brave Bison") regarding a possible all-share offer by Brave Bison for MISSION (the "Possible Offer"). As at today's date, Logistics Development Group plc ("LDG"), an AIM investing company for which DBAY acts as investment manager, holds an interest in 9,905,107 ordinary shares of 10 pence each in the capital of MISSION, representing approximately 10.74 per cent. of MISSION's issued ordinary share capital.

 

DBAY believes that the indicative terms of the Possible Offer undervalue MISSION and its prospects. Whilst DBAY recognises the attraction of cash offers (or full cash alternatives) at significant premia, especially given the limited trading volumes in MISSION shares, the all-share offer proposed by Brave Bison is highly unattractive.

 

It is DBAY's recommendation to the board of LDG not to take any action in respect of the Possible Offer at this time.

 

This announcement has been made without the agreement or approval of MISSION or Brave Bison.

 

 

For enquiries:

 

DBAY Advisors Limited

via Investec Bank plc

Investec Bank plc

Gary Clarence

Harry Hargreaves

+44 (0) 20 7597 5970

 

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