NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") 

FOR IMMEDIATE RELEASE

16 May 2022

Statement regarding RWS Holdings plc ("RWS")

Further to the announcement made by Baring Private Equity Asia Fund VIII Limited ("BPEA") on 21 April 2022, BPEA confirms that it does not intend to make an offer for RWS. This statement is in accordance with Rule 2.8 of the Code.

BPEA's decision not to proceed at this stage is not a reflection of its views on the RWS business. 

For the purposes of Rule 2.8 of the Code, BPEA, and any person acting in concert with it, reserves the right to announce or participate in an offer or possible offer for RWS and/or to take any other action which would otherwise be restricted under Rule 2.8 of the Code within the 6 months after the date of this announcement in the following circumstances:

a)  with the agreement of the Board of RWS; 

b)  following the announcement by or on behalf of a third party of a firm intention to make an offer for RWS;

c)  following the announcement by RWS of a proposal for a "whitewash" (as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or for a reverse takeover (as defined in the Code); or

d)  if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers). 

Rule 26.1 disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will be made available at https://www.bpeasia.com/ (subject to certain restrictions relating to persons resident in restricted jurisdictions) by no later than 12 noon (London time) on 17 May 2022 (being the business day following the date of this announcement). The content of any website referred to in this announcement is not incorporated into, and does not form part of, this announcement.