NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
For immediate release
6 August 2018
Announcement Regarding IWG plc ("IWG")
Further to the announcement made by IWG on 11 May 2018 in relation to a possible offer for the entire issued and to be issued ordinary share capital of IWG by Starwood Capital European Operations Limited or its affiliated entities ("Starwood"), Starwood confirms that it does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of IWG plc.
This announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement, Starwood will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 2.8 of the Code.
Starwood reserves the right to acquire IWG shares, subject to, and in accordance with, the Code and other applicable regulations. For the purpose of Rule 2.8 of the City Code on Takeovers and Mergers (the "Code"), Starwood reserves the right to make or participate in an offer for IWG (and/or take any other actions which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement:
(i) with the agreement or recommendation of the board of directors of IWG;
(ii) following the announcement of a firm intention to make an offer for IWG by or on behalf of a third party;
(iii) following the announcement by IWG of a "whitewash" 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
(iv) where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.
Further information
Enquiries
Starwood
Tom Johnson / Patrick Tucker +1 (212) 371-5999, [email protected] / [email protected]
