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LONDON - Navigator (ELI:NVGR) Paper UK Limited, a subsidiary of The Navigator Company, S.A., has confirmed that it has followed through on its intentions stated during the acquisition of Accrol Group Holdings plc. The confirmation, as required by Rule 19.6(c) of the City Code on Takeovers and Mergers, comes one year after the completion of the takeover on May 24, 2024.
The acquisition was carried out through a Court-sanctioned scheme of arrangement as per the Companies Act 2006. Navigator had made commitments regarding its post-offer intentions for Accrol, which were outlined in announcements made on March 22, 2024, and in a scheme document published on April 17, 2024.
In compliance with the takeover code, Navigator has submitted a written statement to The Panel on Takeovers and Mergers, verifying that it has acted in accordance with the post-offer plans previously disclosed. This step ensures transparency and adherence to the regulatory framework governing corporate acquisitions in the UK.
The details of the post-offer intentions and the extent to which Navigator has fulfilled these commitments have not been publicly disclosed in this announcement. The completion of such acquisitions and the subsequent adherence to stated intentions are closely watched by investors and industry analysts, as they can have significant implications for the performance and strategy of the involved companies.
This announcement was made in accordance with the London Stock Exchange (LON:LSEG) regulations and was provided by RNS, the exchange’s news service, which is authorized by the Financial Conduct Authority as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
Investors and stakeholders in both Navigator and Accrol will likely continue to monitor the progress of the integration and the impact of the acquisition on the companies’ operations and market positions. This confirmation is based on a press release statement.
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