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Global Ports Holding PLC (GPH)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Global Ports Holding Plc
Takeover talks terminated
On the 15 June 2022 Global Ports Holding (the “Company” or “GPH”) confirmed that following expressions of interest made to Global Yatırım Holding A.Ş (Global Investments Holding, the Company’s majority shareholder), GPH received an approach regarding a potential cash offer for all of the shares in the Company by SAS Shipping Agencies Services Sarl (“SAS”), a wholly-owned subsidiary of MSC Mediterranean Shipping Company Holdings S.A (“MSC”), and discussions were ongoing. GPH’s board of directors has now terminated these talks with SAS.
GPH’s board of directors remains confident in GPH’s strategic direction as an independent port operator with open access cruise port concessions and arm’s length treatment of berthing rights for all its customers. The GPH board continues to be focussed on delivery of our strategic goals and long-term value creation, that reflects the strategic strength of GPH and its growing network of cruise ports, for the benefit of all shareholders.
Mehmet Kutman, Co-Founder, CEO and Chairman of GPH said:
“The board of GPH is wholly committed to the successful execution of our long-term strategy to grow the business and create value for all shareholders while providing industry-leading investment and service levels at our cruise ports for the benefit of all stakeholders.”
In accordance with Rule 2.6(a) of the Code, SAS is required, by not later than 5.00 p.m. on 13 July 2022, to either announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or announce that they do 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 be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
This announcement has been made by GPH without the agreement or approval of SAS.
The person responsible for arranging for the release of this announcement on behalf of the Company is Martin Brown, Investor Relations Director.
EQS News ID:
End of Announcement
EQS News Service