NIOX Group Responds to Keensight Announcement, Discontinues Private Sale Process
Why we think this is neutral
The RNS announcement does not contain any of the mandatory news types, such as contract news, order news, trading update, financing, funding, annual results, asset sale/disposal, flow testing, licence news, or delisting. Therefore, the sentiment is assessed as neutral.
Key Points
- Keensight Capital will not make a firm offer for NIOX Group
- NIOX Group discontinues its Private Sale Process
- The Company notes a strong start to the current financial year, with 18% sales growth in Q1
Summary
NIOX Group plc (AIM: NIOX) has responded to an announcement made by Keensight Capital under Rule 2.8 of the City Code on Takeovers and Mergers, confirming that Keensight does not intend to make a firm offer for the Company. As a result, Keensight is bound by the restrictions set out in Rule 2.8 of the Code. Furthermore, the NIOX Board has concluded that continuing the Private Sale Process at this time is unlikely to yield an optimal outcome for shareholders, and has therefore decided to discontinue the process with immediate effect.