Eleco plc Update on Letter of Intent
Accel-KKR's Bidco has updated its recommended cash acquisition of Eleco PLC, noting that Charles Stanley's letter of intent now covers 5,578,291 Eleco Shares, representing approximately 6.6% of the issued share capital, after Charles Stanley sold 765,127 shares. Consequently, the total number of Eleco shares subject to irrevocable undertakings and letters of intent to vote in favour of the scheme of arrangement is now 40,052,404, or approximately 47.5% of the issued share capital.
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Unless defined herein, defined terms shall have the meanings given to them in the Rule 2.7 Announcement.
Pursuant to the Form 8.3 Announcements released following the date of the Rule 2.7 Announcement, Bidco became aware that Charles Stanley had sold a total of 765,127 Eleco Shares in the period between the Rule 2.7 Announcement and 29 September 2026.
Therefore, the total number of Eleco Shares which are subject to the Charles Stanley Letter of Intent has reduced to 5,578,291 Eleco Shares, representing approximately 6.6 per cent. of the existing issued ordinary share capital of Eleco as at the close of business on the last Business Day prior to this announcement.
Geoff Nash
Henrik Persson
Seamus Fricker
Elysia Bough
Kirkland & Ellis International LLP is acting as legal adviser to Bidco and Accel-KKR.
Dorsey & Whitney (Europe) LLP is acting as legal adviser to Eleco.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.