PrimeStone Capital LLP Statement re offer (5344X)
21 Dezember 2023 - 8:00AM
UK Regulatory
TIDMSMS
RNS Number : 5344X
PrimeStone Capital LLP
21 December 2023
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 THAT JURISDICTION
FOR IMMEDIATE RELEASE
21 December 2023
Smart Metering Systems plc
Statement by Primestone Capital LLP ("PrimeStone"), Alan Foy and
Steve Timoney (together the "Founders")
Long-term shareholder PrimeStone and the Founders are
collectively interested in or are able to control the voting rights
in respect of 23,827,659 ordinary shares in Smart Metering Systems
plc ("SMS"), representing approximately 17.8% of SMS's issued share
capital.
PrimeStone and the Founders noted the announcement of the cash
offer for SMS by funds advised by Kohlberg Kravis Roberts & Co.
L.P. and its affiliates of 955 pence in cash (the "Offer" and the
"Offer Price").
PrimeStone and the Founders are disappointed with the Offer
Price and intend to vote against (or procure the exercise of
relevant voting rights against) the Offer.
Enquiries:
info@primestonecapital.com
For more information on PrimeStone Capital LLP:
http://www.primestonecapital.com/
Schedule of holdings:
Name Number of shares % of issued share
capital
PrimeStone Capital
LLP 13,075,114 9.79%
----------------- ------------------
Metis Investment
Management Ltd 4,680,851 3.50%
----------------- ------------------
Metis Investments
Ltd 372,350 0.28%
----------------- ------------------
The Metis Trust 715,000 0.54%
----------------- ------------------
Lochlane Investments
Limited 4,984,344 3.73%
----------------- ------------------
N. M. Rothschild & Sons Limited ("Rothschild & Co"),
which is authorised and regulated in the United Kingdom by the
Financial Conduct Authority, is acting exclusively for PrimeStone
in connection with the matters set out in this announcement and for
no one else and will not be responsible to anyone other than
PrimeStone for providing the protections afforded to its clients
nor for providing advice in relation to the matters set out in this
announcement. Neither Rothschild & Co nor any of its
subsidiaries, branches or affiliates and their respective
directors, officers, employees or agents owes or accepts any duty,
liability or responsibility whatsoever (whether direct or indirect,
whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Rothschild & Co in connection
with this announcement, any statement contained herein or
otherwise.
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END
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