The Board of Equals Group plc (LON:EQLS) has today issued a response to recent press speculation.
Equals has confirmed that as part of its ongoing strategic review, the Board has received an indicative non-binding proposal from a consortium consisting of Embedded Finance Limited (“Railsr”) and TowerBrook Capital Partners (UK) LLP regarding a potential bid for the entire issue and to issue Equals share capital.
There can be no assurance that any firm offer will be made for Equals, nor as to the terms on which any firm offer, if made, could be made. Shareholders are advised not to take any action at this time.
Pursuant to Rule 2.6(a) of the Code, no later than 17:00 on 17 April 2024, the Consortium must either announce a firm intention to tender for Equals in accordance with Article 2.7 of the Code or announce that it does not intend to makes an offer for Equals, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.
This deadline shall be extended only with the consent of the Redemption Group pursuant to Rule 2.6(c) of the Code.