RNS Number : 9460G
R8 Capital Investments PLC
15 March 2024
 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

15 March 2024

R8 Capital Investments plc

(the "Company" or "R8")

 

Update on Proposed Transaction

Further to the announcement on 10 November 2023 regarding the Company entering into heads of terms with Redwood Financial Partners Limited ("RFPL") in relation to the proposed acquisition by the Company of the entire issued share capital of RFPL (the "Transaction"), the Company would like to provide a further update on the likely timeframe for completion.  The parties now believe that completion of the Transaction will be on or around 31 August 2024. The extended timeframe is largely to accommodate certain aspects of the Transaction, including finalisation of an IFRS conversion exercise of Redwood Bank Limited, RFPL's wholly-owned subsidiary, and to provide sufficient time for the Prudential Regulation Authority to provide consent to change of ownership, required under the Transaction.

Whilst there can be no certainty that the Transaction will complete and it remains subject to, amongst other things, formal terms being agreed and the completion of legal and financial due diligence and regulatory approvals, the directors of R8 believe that the Transaction is progressing well.

A further announcement will be made in due course.

-Ends-

Further information:

R8 Capital Investments plc

Jonathan Rowland / Richard Morecroft         info@r8plc.com

Peterhouse Capital Limited                        + 44 (0) 20 7469 0930

Corporate Broker

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDEAXDLFFSLEFA
R8 Capital Investments (LSE:MODE)
Historical Stock Chart
Von Nov 2024 bis Dez 2024 Click Here for more R8 Capital Investments Charts.
R8 Capital Investments (LSE:MODE)
Historical Stock Chart
Von Dez 2023 bis Dez 2024 Click Here for more R8 Capital Investments Charts.