Extension of PUSU deadlines

Following an extension announcement by Capital & Regional on 18 July 2024, NewRiver was required, by no later than 5:00 p.m. (UK time) / 6.00p.m. (SA time) on 15 August 2024, to either announce a firm intention to make an offer for Capital & Regional in accordance with Rule 2.7 of the Code or 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.

On 19 July 2024, Praxis Group Limited ("Praxis") announced that it was in the early stages of considering whether or not to make a cash offer for the entire issued, and to be issued, share capital of Capital & Regional.

In accordance with Rule 2.6(a) of the Code, Praxis is required, by no later than 5:00 p.m. (UK time) / 6.00p.m. (SA time) on 16 August 2024, to either announce a firm intention to make an offer for Capital & Regional in accordance with Rule 2.7 of the Code or 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.

To allow the discussions with each of NewRiver and Praxis (each a "Potential Bidder") to continue, the Board of Capital & Regional has requested, and the Panel on Takeovers and Mergers (the "Takeover Panel") has consented to, extensions to the date by which each of the Potential Bidders is required to either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer. Consequently, in accordance with Rule 2.6(c) of the Code, each of the Potential Bidders is now required, by not later than 5.00 p.m. (UK time) / 6.00 p.m. (SA time) on 12 September 2024, to either announce a firm intention to make an offer for Capital & Regional in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for the Company, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

In accordance with Rule 2.6(c) of the Code, each revised deadline may be extended further at the request of the Board of Capital & Regional and with the consent of the Takeover Panel.

In accordance with Rule 2.6(d), this deadline will cease to apply if either Potential Bidder (or any third-party) has announced a firm intention to make an offer for the Company.