Avingtrans gets extension on possible Hayward Tyler bid
By Josh White
Date: Friday 23 Jun 2017
(ShareCast News) - Hayward Tyler updated the market on its discussions with Avingtrans on Friday, regarding the possible offer by Avingtrans for the company as announced on 31 March.
The AIM-traded firm said that, further to its announcement on 26 May, in accordance with Rule 2.6(c) of the Code, Avingtrans had been required to announce either a firm intention to make an offer for the company or announce that it did not intend to make an offer by 1700 BST on Friday.
"The board of Hayward Tyler announces that, at its request, the Panel on Takeovers and Mergers has consented to a further extension of this deadline ... and, accordingly, Avingtrans must, by no later than 1700 BST on 30 June, either announce a firm intention to make an offer for Hayward Tyler 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," Hayward Tyler's board confirmed in a statement.
"This deadline will only be further extended with the consent of the panel."
Hayward Tyler added that it intended to announce its results for the year ended 31 March on Friday 30 June.
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