On 1 July 2021, Watchstone Group plc (“Watchstone”) was informed that Polygon Global Partners LLP (“Polygon”) had acquired 500 shares in Watchstone, taking their holding to 30.00 per cent. Accordingly, under Rule 9 of the City Code on Takeovers and Mergers, Polygon are making a mandatory cash offer to the shareholders of Watchstone to acquire the entire issued and to be issued ordinary share capital of Watchstone not already owned by it, at a price of 34 pence in cash for each ordinary share.
On 31 August 2021, Polygon announced the terms of an increased and final mandatory cash offer of 38 pence per ordinary share (“Final Offer”).
On 14 September 2021, Polygon announced that the Final Offer had lapsed following the failure to meet its acceptance condition.
Watchstone Lapsed Offer announcement dated 15 September 2021 >
Polygon Lapsed Offer announcement dated 14 September 2021 >
Response Document to the Final Offer >
Response announcement in respect of the Final Offer from Polygon >
Final Offer Document from Polygon >
Acceptance levels and improved final offer announcement dated 31 August 2021 >
SPARK Consent Letter >
WH Ireland Consent Letter >