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LONDON - Pod Point Group (WA:PGMP) Holdings PLC (LSE:PODP), a leading provider of electric vehicle charging infrastructure, has announced a further extension to the deadline for EDF (EPA:EDF) Energy Customers Limited ("EDF") to make a firm offer to acquire the remaining shares of the company. The new deadline is set for 5:00 pm London time on June 12, 2025.
Previously, EDF, which currently holds approximately 53% of Pod Point’s shares, had expressed interest in purchasing the outstanding shares for 6.5 pence each. The initial deadline for this potential offer was May 22, 2025, but was extended to allow Pod Point to finalize and publish its audited financial results for the fiscal year 2024.
The independent directors of Pod Point, excluding EDF’s representative Rob Guyler, have indicated their intention to recommend the possible offer to shareholders. They have also expressed their willingness to vote in favor of the offer, subject to customary terms and conditions, should it become firm.
Discussions between Pod Point and EDF are ongoing, and the extension has been consented to by both EDF and the Takeover Panel, in accordance with Rule 2.6(c) of the City Code on Takeovers and Mergers. The Takeover Panel retains the right to grant further extensions if necessary.
EDF has reserved the right to alter the terms of the offer, including the possibility of reducing the consideration by the amount of any dividend or other distribution paid by Pod Point to its shareholders after the date of the initial announcement.
Pod Point shareholders have been advised that no immediate action is required in relation to the possible offer. The company remains in an ’offer period’ as per the rules of the Code, which involves certain ongoing disclosure requirements.
The extension of the deadline underscores the complexity of takeover negotiations and the importance of aligning such corporate actions with the publication of financial results. The outcome of these discussions could significantly impact Pod Point’s ownership structure and the future of its operations in the electric vehicle infrastructure sector.
This news is based on a press release statement from Pod Point Group Holdings PLC.
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