finnCap Group PLC (AIM:FCAP) Response to offer speculation

The Board of finnCap notes recent speculation and confirms that it has received indicative non-binding proposals from Panmure Gordon Group Limited (“Panmure Gordon”) regarding a possible combination of the two companies structured as the acquisition for cash of finnCap by Panmure Gordon with the alternative for electing shareholders to receive partial consideration in Panmure Gordon securities.

Discussions between the Company and Panmure Gordon are still at an early stage. There can accordingly be no certainty that any offer will ultimately be made for the Company, nor as to the terms on which any offer might be made. This announcement has not been made with the consent of Panmure Gordon.

In accordance with Rule 2.6(a) of the Code, Panmure Gordon is required, by no later than 5.00 pm (London time) on 15 November 2022, to either (i) announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code; or (ii) 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 can only be extended with the consent of the Panel on Takeovers and Mergers (the “Takeover Panel”) in accordance with Rule 2.6(c) of the Code.

Further announcements will be made in due course as appropriate.

Pursuant to Rule 2.9 of the Code, the Company confirms that, as at the date of this announcement, it has 181,068,177 ordinary shares of 1 penny each in issue with the International Securities Identification Number GB00BGKPX309. No shares are held in treasury.

As a consequence of this announcement, an “offer period” has now commenced in respect of the Company in accordance with the rules of the Code and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.


Smith Square Partners LLP (Financial adviser to finnCap)

Toby Rolls

Paul Staples

Tel: +44 (0)20 3696 7260

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