On 31 December 2020, the boards of Connells and Countrywide announced that they had reached agreement on the terms of a recommended cash offer by Connells for Countrywide (the Recommended Offer Announcement ), pursuant to which Connells will acquire all of the issued and to be issued share capital of Countrywide (the Acquisition ).
Today, Connells is pleased to announce that it has acquired the entire shareholding of 1,919,995 Countrywide Shares held by Schroder Investment Management Limited ( Schroder ), representing approximately 5.85 per cent. of the existing issued ordinary share capital of Countrywide as at 6 January 2021, being the last Business Day prior to the date of this announcement.
Summary · The boards of Connells Limited ( Connells ) and Countrywide plc ( Countrywide or the Company ) are pleased to announce that they have reached agreement on the terms of a recommended cash offer by Connells for Countrywide (the Acquisition ). · Under the terms of the Acquisition, each Countrywide Shareholder will be entitled to receive 395 pence in cash for each Countrywide Share. · Connells has received written confirmations of support for the Acquisition from Countrywide Shareholders in respect of, in aggregate, 16,751,287 Countrywide Shares, representing approximately 51.03 per cent. of the existing issued ordinary share capital of Countrywide as at 30 December 2020, being the last Business Day prior to the date of this Announcement.