Trucost Granted Dispensation from Certain City Code Requirements.
M2 EQUITYBITES-April 18, 2016-Trucost Granted Dispensation from Certain City Code Requirements
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18 April 2016 - The UK-based Panel on Takeovers and Mergers has granted UK-based environmental data specialist Trucost a dispensation from certain requirements under the City Code on Takeovers and Mergers mainly related to making mandatory annoucements, the company said.
Earlier this month, the directors of Trucost announced that it may be in the best interests of the stakeholders in the company that the company is put up for sale, the company said.
Trucost is a provider of data to help companies, investors, governments, academics and thought leaders to understand the economic consequences of natural capital dependency.
The company's data and insight enables its clients to identify natural capital dependency across companies, products, supply chains and investments; manage risk from volatile commodity prices and increasing environmental costs; and ultimately build more sustainable business models and brands.
Trucost's board believes that under new ownership, Trucost may be able to develop and grow its revenues more quickly than the company is able to do on a standalone basis.
However, the board will only engage with third parties willing to provide value to Trucost's shareholders by recognising and supporting the company's growth potential.
Discussions relating to the sale of the company as a whole are being conducted under the framework of a "formal sale process" in accordance with Note 2 on Rule 2.6 of the City Code on Takeovers and Mergers, in order to enable conversations with parties interested in making proposals on a confidential basis.
Trucost said it expects the formal sale process to be concluded in the coming weeks. Shareholders are advised that there can be no certainty that any offers will be made, any sales or transactions concluded, nor as to the terms of any offer, sale or transaction.
The company has appointed Goldenhill Technology Advisors LLP to conduct the formal sale process in conjunction with Allenby Capital Ltd. which is advising Trucost as independent financial adviser for the purposes of Rule 3 of the Code.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Apr 18, 2016|
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