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LONDON - Otus Capital Management Limited has sold 1,448,559 shares in Epwin Group plc, reducing its stake amid the ongoing acquisition of Epwin by Laumann Group UK Limited, according to a regulatory announcement made today.
Following the sale, Otus now holds 5,033,594 Epwin shares, down from its previous position of 6,482,153 shares that represented approximately 4.77 percent of Epwin’s issued ordinary share capital.
The transaction comes after Laumann UK, a wholly owned indirect subsidiary of Laumann Stiftung & Co KG, announced on August 7 a recommended all-cash acquisition of Epwin’s entire issued and to be issued ordinary share capital. The acquisition is intended to be implemented through a scheme of arrangement under Part 26 of the Companies Act.
Otus had previously provided a letter of intent to vote in favor of the scheme and related resolutions, with the flexibility to sell or otherwise deal in Epwin shares at any time.
As a result of this share sale, the total number of Epwin shares subject to irrevocable undertakings and letters of intent has decreased to 46,349,170, representing approximately 34.08 percent of Epwin’s issued share capital as of August 14.
The announcement was made pursuant to Rule 2.10(c) of the Takeover Code, which requires disclosure of changes to shareholdings that were previously referenced in acquisition documentation.
The information is based on a regulatory news announcement issued by Laumann Group.
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