Further extension of the PUSU Deadline
Toscafund granted further extension to 21 August 2026 to announce firm intention on 250p per share offer for Spire Healthcare.
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On 14 May 2026, the Company announced that it had received a revised non-binding proposal (the "Proposal") from funds advised by Toscafund Asset Management LLP ("Toscafund"), the Company's second largest shareholder, regarding a possible cash offer of 250 pence per Spire Healthcare share for the entire issued and to be issued ordinary share capital of Spire Healthcare (the "Cash Offer"). The Proposal includes an option for Spire Healthcare shareholders to elect for an unlisted rollover equity alternative in respect of some or all of their Spire Healthcare shares.
As set out in the Company's announcement on 9 July 2026, in accordance with Rule 2.6(a) of the Code, Toscafund is currently required, by not later than 5.00 p.m. (London time) on 6 August 2026 (the "PUSU Deadline"), either to: (i) announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code; or (ii) announce that it does not intend to make an offer for the Company.
Toscafund has confirmed to the Board that it has substantially completed its due diligence and that it continues to work towards the announcement of a 250 pence per Spire Healthcare share recommended offer. Given that due diligence is substantially complete and the progress being made on transaction documentation, Toscafund has requested that the Board grants a further extension to enable it to finalise its financing arrangements, which are well advanced.
Accordingly, the Board, has therefore requested, and the Takeover Panel has consented to, a further extension to the PUSU Deadline. Consequently, in accordance with Rule 2.6(a) of the Code, Toscafund is now required, by not later than 5.00 p.m. (London time) on 21 August 2026, either to announce a firm intention to make an offer 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. This deadline may be further extended by the Company with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code.
This announcement is being made with the approval of Toscafund.
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Additional Information
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