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On 15 May 2025, PSF Entities confirmed they no longer intend to make an offer for the entire issued and to be issued share capital of De La Rue plc. This announcement was made in accordance with Rule 2.8 of the City Code on Takeovers and Mergers. PSF Entities reserved the right to announce or participate in an offer for De La Rue plc within six months of this date, subject to specified conditions.
| Date | 15 May 2025 |
| Time | 18:16:29 |
| Category | Miscellaneous |
| ID | 9161I |
**NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION**
FOR IMMEDIATE RELEASE
15 May 2025
THIS IS A STATEMENT TO WHICH RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") APPLIES
In accordance with Rule 2.8 of the Code, the PSF Entities hereby confirm that they no longer intend to make an offer for the entire issued and to be issued share capital of De La Rue plc.
As a result of this announcement, the PSF Entities and any person acting in concert with them are bound by the restrictions set out in Rule 2.8 of the Code.
However, for the purposes of Rule 2.8 of the Code, the PSF Entities reserve the right to announce or participate in an offer or possible offer for De La Rue plc (and/or to take any action otherwise restricted by Rule 2.8 of the Code) within six months of the date of this announcement:
- with the consent of the board of De La Rue plc, but only in the event that the Atlas Holdings offer has lapsed or been withdrawn;
- if a third party announces a firm intention to make an offer for De La Rue plc;
- if De La Rue plc announces a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or
- if the Panel on Takeovers and Mergers determines that there has been a material change of circumstances.
This announcement is being made in accordance with Rule 2.8 of the Code and does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
This announcement contains no inside information for the purposes of Article 7 of the UK Market Abuse Regulation (Regulation (EU) No. 596/2014 as incorporated into UK law by the European Union (Withdrawal) Act 2018 and supplemented by UK statutory instruments) ("UK MAR").
The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. Any failure to comply with such restrictions may constitute a violation of the securities laws of any such jurisdiction.
In accordance with Rule 26.1 of the Code, a copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on the website at: https://www.delarue.com/ by no later than 12:00 noon (London time) on the business day following this announcement.
The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.
Pension SuperFund Capital
Email: jane.dickinson@psf.capital
James Culverhouse, EQ
Tel: +44 (0)7912 508 322
Email: james.culverhouse@eqcorp.co