Extension of PUSU Deadline
SThree plc announced an extension to the PUSU (Put Up or Shut Up) deadline regarding a possible all-cash offer from Circle8 Group Inc. Discussions are ongoing, and the Panel on Takeovers and Mergers has consented to a further 28-day extension, requiring Circle8 to announce a firm intention to make an offer by 5:00 p.m. on November 18, 2026, or state its intention not to make an offer. There is no certainty an offer will be made or on what terms.
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On 9 September 2026, the Board of SThree announced it had received an approach from Circle8 Group Inc. ("Circle8") regarding a possible all-cash offer for the entire issued and to be issued ordinary share capital of the Company.
On 7 October 2026, the Company announced that following a revised proposal from Circle8, the Panel on Takeovers and Mergers (the "Panel") had consented to an extension of the relevant deadline under Rule 2.6(a) of the Code to 5.00 pm on 21 October 2026 ("PUSU Deadline").
Discussions between SThree and Circle8 are ongoing. To allow further time for these discussions to progress, the Board of SThree has requested, and the Panel has consented to, a further extension of 28-days to the PUSU Deadline.
Accordingly, in accordance with Rule 2.6(a) of the Code, Circle8 is required, by not later than 5.00 p.m. (London time) on 18 November 2026, to either announce a firm intention to make an offer for the Company 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 can be further extended by the Board of SThree, with the consent of the Panel, in accordance with Rule 2.6(c) of the Code.
There can be no certainty that any firm offer for the Company will be made, nor as to the terms on which any offer will be made. A further announcement will be made if and when appropriate.
| Goldman Sachs International Khamran Ali Chris Emmerson Lorenzo Carlino Investec Luke Spells Henry Reast Berenberg Toby Flaux Michael Burke Alma Strategic Communications Rebecca Sanders-Hewett Hilary Buchanan Sam Modlin Rose Docherty | +44 (0) 20 7774 1000 +44 (0) 20 7597 5970 +44 (0) 20 3207 7800 +44 (0) 20 3405 0205 SThree@almastrategic.com |
Clifford Chance LLP is acting as legal adviser to SThree plc.
Rule 26.1 disclosure
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.