TIDMINCE TIDMARDN

RNS Number : 3928I

Ince Group PLC (The)

14 April 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW IN THE PUBLIC DOMAIN

FOR IMMEDIATE RELEASE

   14   April 2022

the ince group PLC

Recommended All Share Offer

for

Arden Partners plc ("Arden")

by

The Ince Group plc ("Ince")

Offer Update - Timetable for completion of the Scheme

On 26 October 2021, the boards of Ince and Arden announced that they had reached agreement on the terms of a recommended all share offer by Ince for the entire issued and to be issued share capital of Arden (the "Acquisition"), to be effected by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").

A document containing full details of the terms and conditions of the Scheme and the Acquisition (the "Scheme Document") was published on 20 December 2021. Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Scheme Document.

Further to Ince's announcement on 11 April 2022, Arden has confirmed that it has asked the FCA to extend its approval of the Change of Control in accordance with section 185 of the FSMA ("FCA Extension"). Subject thereto all required regulatory approvals have been received or waived and completion of the Scheme and the Acquisition remains subject to the sanction of the Scheme under section 899 of the Companies Act and the delivery of a copy of the Court Order to the Registrar of Companies.

Arden has confirmed that a court hearing to sanction the Scheme has been scheduled to be held on 27 April 2022. Subject to receipt of the FCA Extension and assuming the Scheme is sanctioned at such hearing, it is expected that a copy of the order of the Court to sanction the Scheme will be delivered to the Registrar of Companies and the Scheme will become effective on 28 April 2022 (the "Effective Date").

It is expected that the last day for dealing in Arden Shares will be 27 April 2022 and cancellation of admission to trading of Arden Shares on AIM will be 8.00 am on 29 April 2022.

It is expected that Admission of the New Ince Shares will occur at 8.00 am on 29 April 2022.

The following indicative timetable sets out the expected dates for the completion of the Scheme and the Acquisition.

 
Event                                                  Time and/or date 
The following dates are indicative only and are subject 
 to change (1) 
Last day of dealings in, or for         27 April 2022 
 registration of transfers of, Arden 
 Shares 
Court Hearing to sanction the Scheme    27 April 2022 
Scheme Record Time                      6.00 p.m. on 27 April 2022 
Suspension of trading, and dealings,    7.30 a.m. on 28 April 2022 
 in Arden Shares 
Effective Date of the Scheme            28 April 2022 (2) 
Cancellation of admission to trading    7.00 a.m. on 29 April 2022 
 of Arden Shares on AIM 
New Ince Shares issued to Arden         By 8.00 a.m. on 29 April 
 Shareholders                            2022 
Admission and commencement of dealings  8.00 a.m. on 29 April 2022 
 in New Ince Shares 
Loss of Arden NOMAD status               29 April 2022 
CREST accounts of Arden Shareholders    On or after 8.00 a.m. on 
 credited with New Ince Shares           29 April 2022 and by no 
                                         later than 12 May 2022 
Latest date for despatch of share       12 May 2022 
 certificates for New Ince Shares 
 for those Arden Shareholders who 
 do not hold their Arden Shares in 
 CREST 
Long Stop Date                          30 June 2022 (3)

Notes :

(1) These dates are indicative only and are based on current expectations and may be subject to change. If any of the times and/or dates above change, the revised times and/or dates will be announced via a Regulatory Informance Service.

(2) The Court Order approving the Scheme is expected to be delivered to Companies House on 28 April 2022 (following the Scheme Record Time at 6.00 p.m. on 27 April 2022 and the suspension of dealings in Arden Shares at 7.30 a.m. on 28 April 2022), which date will then become the Effective Date. The events which are stated as occurring on subsequent dates are conditional on the Effective Date and operate by reference to this time.

(3) This is the latest date by which the Scheme may become Effective unless Ince and Arden agree (and the Panel and, if required, the Court permit) a later date.

All references in this announcement to times are to the times in London, United Kingdom time unless otherwise stated.

Enquiries:

 
The Ince Group plc 
Adrian Biles, Group Chief Executive           investorrelations@incegd.com 
Simon Oakes, Chief Financial Officer 
 
Allenby Capital Limited - Nominated Adviser   +44 (0) 20 3328 5656 
Jeremy Porter / Piers Shimwell, Corporate 
 Finance 
 
Arden Partners plc - Financial Adviser 
 and Broker                                   +44 (0) 20 7614 5900 
Paul Shackleton, Corporate Finance 
John Llewellyn Lloyd, Corporate Finance 
Louisa Waddell, Corporate Finance 
Simon Johnson, Equity Sales 
 
Williams Nicolson - Financial PR              +44 (0) 7767 345 563 
Steffan Williams / Fraser Schurer-Lewis       ince@williamsnicolson.com

About The Ince Group plc

The Ince Group is a dynamic international legal and professional services business with offices in nine countries across Europe, Asia and the Middle East. With over 700 people, The Ince Group delivers legal advice, strategic guidance and business solutions to clients ranging from the world's oldest and biggest businesses operating across numerous industries to ultra-high net worth individuals. Through its entrepreneurial culture and "one firm" approach, the business offers its clients over 150 years of experience, insight and relationships. The Group is driven by a unique team of passionate people whose broad expertise and deep sector specialisms provide their clients with solutions to all their complex legal and strategic needs.

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END

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