REG - DBAY Advisors Ltd Mission Group PLC Brave Bison Grp PLC Logistics Dev Grp - Response re possible offer for The MISSION Group

MissionAnnouncement

15/05/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240515:nRSO4367Oa&default-theme=true

RNS Number : 4367O  DBAY Advisors Limited  15 May 2024

15 May 2024

 

 DBAY Advisors Limited

 

Response re possible all-share offer for The MISSION Group plc

 

DBAY Advisors Limited ("DBAY") notes the announcements dated 13 May 2024 by
The MISSION Group plc ("MISSION") and Brave Bison Group plc ("Brave Bison")
regarding a possible all-share offer by Brave Bison for MISSION (the "Possible
Offer"). As at today's date, Logistics Development Group plc ("LDG"), an AIM
investing company for which DBAY acts as investment manager, holds an interest
in 9,905,107 ordinary shares of 10 pence each in the capital of MISSION,
representing approximately 10.74 per cent. of MISSION's issued ordinary share
capital.

 

DBAY believes that the indicative terms of the Possible Offer undervalue
MISSION and its prospects. Whilst DBAY recognises the attraction of cash
offers (or full cash alternatives) at significant premia, especially given the
limited trading volumes in MISSION shares, the all-share offer proposed by
Brave Bison is highly unattractive.

 

It is DBAY's recommendation to the board of LDG not to take any action in
respect of the Possible Offer at this time.

 

This announcement has been made without the agreement or approval of MISSION
or Brave Bison.

 

 

For enquiries:

 

 DBAY Advisors Limited  via Investec Bank plc
 Investec Bank plc      +44 (0) 20 7597 5970

 Gary Clarence

 Harry Hargreaves

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  OFDDZLFFZELBBBK