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Narayana Health Issues Statement Regarding Spire Healthcare Group plc Under Rule 2.8 of the Takeover Code

Written by Customer Service on . Posted in Mergers And Acquisitions.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, 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 SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”).

BANGALORE, India, Nov. 29, 2024 (GLOBE NEWSWIRE) —

Statement regarding Spire Healthcare Group plc (“Spire”)

In response to recent media speculation, Narayana Health confirms that it does not intend to make an offer for Spire. This is a statement to which Rule 2.8 of the Code applies. Accordingly, Narayana Health (and any person acting in concert with it) is, except in the circumstances set out below or otherwise with the consent of the the Panel on Takeovers and Mergers (the “Panel”), bound by the restrictions under Rule 2.8 of the Code.

Under Note 2 on Rule 2.8 of the Code, Narayana Health (and any person acting in concert with it) reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances:

     (i) with the agreement of the board of directors of Spire;
     (ii) following the announcement of a firm intention to make an offer for Spire by or on behalf of a third party;
     (iii) following the announcement by Spire of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or
     (iv) where the Panel has determined that there has been a material change of circumstances.
CONTACT: Media Contact:
Sandhya Sriram, CFO
Narayana Health
sandhya.j@narayanahealth.org

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