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LONDON - Kinovo PLC, a specialist property services group, has acknowledged receiving a final possible offer from Sureserve Compliance Holdings Limited for a cash acquisition of its entire issued and to be issued share capital at 87.5 pence per share. This offer, termed the "Final Possible Offer," values Kinovo at approximately £56.4 million on a fully diluted basis.
The Board of Kinovo has indicated that the offer price is one they would likely recommend to shareholders, should Sureserve announce a firm intention to make an offer as per the City Code on Takeovers and Mergers. Both parties are reportedly working towards a recommended announcement under Rule 2.7 of the Code.
Sureserve has until 5:00 p.m. (London time) on Thursday, June 9, 2025, to either confirm its intention to proceed with the offer or to withdraw, as per Rule 2.6(a) of the Code. The announcement of the potential acquisition has initiated an ’Offer Period’ for Kinovo in compliance with the Code’s rules.
The Final Possible Offer is stated to be final, with the exception that Sureserve reserves the right to revise and increase the offer if a third party proposes a higher bid for Kinovo. Additionally, Sureserve has the right to adjust the offer terms to account for any dividends or distributions declared by Kinovo after the date of the announcement.
The transaction documentation is reportedly in advanced stages, and further updates will be provided as appropriate. This announcement has been released with the consent of both Kinovo and Sureserve.
As a result of this development, shareholders of Kinovo are reminded of their disclosure obligations under Rule 8 of the Code, which pertains to interests in relevant securities during an offer period.
This news is based on a press release statement and is intended to inform stakeholders about the current status of the potential acquisition. The information provided does not constitute an endorsement or an assessment of the offer’s merits.
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