NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART 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

 

12 December 2016

 

 

M.P. Evans Group PLC ("M. P. Evans")

 

 

 

Announcement of acceptance level of KLK Offer

 

The board of directors of M.P.Evans notes that, on Friday 9 December 2016, KLK announced that shareholders holding only 12.9% of M.P.Evans' share capital had accepted the KLK Offer by 1.00pm (London time) on 9 December, being the first closing date of the Offer.

 

KLK has extended the KLK Offer which will remain open until 1.00pm (London time) on Wednesday 21 December.

 

The KLK Offer very substantially undervalues M.P. Evans' Shares: the Independent Valuer's valuation of M.P.Evans' properties implies a value for M.P.Evans which is 46% higher than the KLK Offer (for further details, please see the M.P.Evans Response Document sent to shareholders on 25 November 2016 and available on the Company's website at www.mpevans.co.uk ).

 

The board of M.P.Evans continues to urge Shareholders to reject the KLK Offer. To reject the KLK Offer, Shareholders should take no action.

 

 

 

Enquiries:

 

M.P. Evans Group PLC

 

Telephone: +44 1892 516333

Peter Hadsley-Chaplin, Chairman

Tristan Price, Chief Executive

 

Rothschild (Financial Adviser)

 

Telephone: +44 207 280 5000

Stuart Vincent

Sam Critchlow

 

 

Peel Hunt (NOMAD and Broker)

 

Telephone: +44 207 418 8900

Dan Webster

Adrian Trimmings

 

Hudson Sandler

 

Telephone: +44 207 796 4133

Charlie Jack

Bertie Berger

 

Capitalised terms used but not defined in this announcement shall have the meanings given to them in the Response Document dated 25 November 2016.

 

Responsibility

The Directors accept responsibility for the information contained in this document (including any expressions of opinion). To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this document for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

 

Notice concerning financial adviser and nominated adviser

 

N.M. Rothschild & Sons Limited , which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively as financial adviser to the Company and no one else in connection with the KLK Offer and will not regard any other person as its client in relation to the KLK Offer and will not be responsible to anyone other than the Company for providing the protections offered to its clients or for providing advice in relation to the KLK offer or any other matter referred to in this announcement.

 

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated  in the United Kingdom by the Financial Conduct Authority, is acting exclusively as nominated adviser to M.P. Evans and no one else in connection with the KLK Offer and will not regard any other person as its client in relation to the KLK Offer and will not be responsible to anyone other than M.P. Evans for providing the protections offered to its clients or for providing advice in connection with the KLK Offer or any other matter referred to in this announcement.

 

Overseas shareholders

 

The release, distribution or publication of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about and observe any applicable requirements.

 

Publication on website

 

A copy of this announcement will be made available at www.mpevans.co.uk in accordance with Rule 26 of the Code. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.