Siris notes recent press speculation regarding Equiniti and confirms that it has submitted a non-binding proposal to acquire the entire issued and to be issued share capital of Equiniti for a cash consideration of 170 pence per share (the "Proposal"). The Proposal also sets out what Siris believes to be a highly deliverable process and timetable to allow it to make a binding proposal under Rule 2.7 of the Code.
Further announcements will be made in due course, but there can be no certainty that a formal offer will be made.
As required by Rule 2.6(a) of the Code, Siris is required, by not later than 5.00 p.m. (London time) on 17 May 2021, either to announce a firm intention to make an offer for Equiniti in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Takeover Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.