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.