Atlantic Alliance Partnership Corp AAPC and TLA Offer Lapsed (6227J)
September 13 2016 - 2:00AM
UK Regulatory
TIDMTLA
RNS Number : 6227J
Atlantic Alliance Partnership Corp
13 September 2016
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 OR REGULATIONS OF SUCH
JURISDICTION
FOR IMMEDIATE RELEASE
13 September 2016
Atlantic Alliance Partnership Corp ("AAPC")
Withdrawal of offer for TLA Worldwide plc ("TLA")
The AAPC Board notes the announcement by the TLA Board on 6
September 2016 of the withdrawal of its recommendation of the
proposed offer by AAPC for TLA (the "Offer") announced on 3 May
2016 (the "Offer Announcement") and the fact that it would
therefore not be convening shareholder meetings to consider the
proposed Scheme.
The AAPC Board has now had the opportunity to discuss the
withdrawal of the recommendation with its investors. Following
these discussions, the AAPC Board has reluctantly concluded that
the withdrawal of the recommendation is sufficiently fundamental to
make it no longer in the best interests of AAPC shareholders for
AAPC to proceed with the Offer.
As a result, the United Kingdom Panel on Takeovers and Mergers
(the "Panel") has confirmed that upon this announcement being made,
the offer period will end with immediate effect, and the Offer will
be withdrawn as also agreed with TLA.
Accordingly, AAPC will not be convening a shareholder meeting to
consider the Transaction. Under rule 35.1 of the City Code on
Takeovers and Mergers, except with consent of the Panel, AAPC must
not, among other things, announce a further offer for TLA within 12
months from the date of this announcement.
Capitalised terms in this announcement, unless otherwise
defined, have the same meaning given to them in the Offer
Announcement.
Enquiries
For further information please contact:
Atlantic Alliance Partnership Corp
Jonathan Goodwin, CEO and President +44 (0)
20 7938 5810
Jonathan Mitchell, Chief Financial Officer +1
212 409 2434
Lepe Partners LLP, Financial Adviser to Atlantic
Alliance Partnership Corp
Julian Culhane +44 (0) 20 7938 5810
Important notices relating to financial advisers
Lepe Partners, which is authorised and regulated by the
Financial Conduct Authority, is acting as financial adviser to AAPC
and no one else in connection with the matters set out in this
announcement and will not be responsible to anyone other than AAPC
for providing the protections afforded to its clients or for
providing advice in connection with the contents of this
announcement or any matter referred to in this announcement.
Publication of this announcement
A copy of this announcement will be made available, subject to
certain restrictions relating to persons resident in or subject to
the laws and/or regulations of a Restricted Jurisdiction, on the
website AAPC at www.aapcacq.com by no later than 12 noon (London
time) on the Business Day following the date of this announcement.
For the avoidance of doubt, neither the content of the website
referred to in this announcement nor the contents of any website
accessible from hyperlinks on any such website are incorporated
into or form part of this announcement and such content should not
be relied upon in reaching a decision regarding the matters
referred to in this announcement.
Forward looking statements
This announcement contains certain forward-looking statements
with respect to a combination involving TLA and AAPC. The words
"believe," "expect," "anticipate," "project" and similar
expressions, among others, generally identify forward-looking
statements. These forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ
materially from those indicated in the forward-looking statements.
Such risks and uncertainties include, but are not limited to,
significant transaction costs and/or unknown liabilities, general
economic and business conditions, changes in global, political,
economic, business, competitive, market and regulatory forces,
future exchange and interest rates, changes in tax laws,
regulations, rates and policies, future business combinations or
disposals and competitive developments. These forward-looking
statements are based on numerous assumptions and assessments made
in light of AAPC's experience and perception of historical trends,
current conditions, business strategies, operating environment,
future developments and other factors it believes appropriate. By
their nature, forward-looking statements involve known and unknown
risks and uncertainties because they relate to events and depend on
circumstances that will occur in the future. The factors described
in the context of such forward-looking statements in this
announcement could cause AAPC or TLA's actual results, performance
or achievements, industry results and developments to differ
materially from those expressed in or implied by such
forward-looking statements. Although it is believed that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct and persons reading this announcement
are therefore cautioned not to place undue reliance on these
forward-looking statements which speak only as at the date of this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
OLAAKBDPFBKDNCD
(END) Dow Jones Newswires
September 13, 2016 02:00 ET (06:00 GMT)
Hawkwing (LSE:HNG)
Historical Stock Chart
From Apr 2024 to May 2024
Hawkwing (LSE:HNG)
Historical Stock Chart
From May 2023 to May 2024