Announcement regarding possible offer
Purplebricks notes the recent press speculation regarding a possible offer for the Company by Strike Limited (“Strike”). Purplebricks confirms that it has been in discussions with Strike regarding their potential participation in the Formal Sale Process announced on 1 March 2023 (the “Formal Sale Process”).
At the current time Strike is not participating in the Formal Sale Process. As noted in the announcement of the Formal Sale Process, all participants are being required to enter into a non-disclosure agreement (“NDA”) on terms satisfactory to Purplebricks. Such NDA reflects terms typical for a Formal Sale Process and enables the Formal Sale Process to run in a fair and coordinated manner for the benefit of Purplebricks’ stakeholders.
There can be no certainty as to whether Strike will make an offer for Purplebricks, nor the terms of any such offer.
Rule 2.6(a) of the Code requires that Strike, by no later than 5.00 p.m. on 12 April 2023, being 28 days following this announcement, either announces a firm intention to make an offer for Purplebricks in accordance with Rule 2.7 of the Code or announces that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
This announcement has been made without the consent of Strike.