Liberum acts as Corporate Broker to Charles Taylor

We are pleased to announce that Liberum acted as Corporate Broker to Charles Taylor plc (“Charles Taylor”) in relation to a recommended cash offer for its entire issued and to be issued share capital by Jewel Bidco Limited, a company formed on behalf of funds advised by Lovell Minnick Partners LLC and its affiliates.

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Under the terms of the offer, the acquisition is to be effected by means of a scheme of arrangement and each Charles Taylor shareholder will be entitled to receive 315 pence per each ordinary share. This represents a premium of 34.0 per cent. to the closing price on 18 September 2019 and values the entire issued and to be issued share capital of Charles Taylor at £261 million on a fully diluted basis. Each shareholder will also be entitled to receive the previously declared interim 2019 dividend of 3.65 pence per ordinary share.

Whilst Charles Taylor has a clear strategy to develop and transform its business and deliver shareholder value, the Charles Taylor directors believe that the terms of the offer are compelling, acknowledge the quality and strong prospects of Charles Taylor's business and deliver attractive value to Charles Taylor shareholders allowing them to crystallise the value of their holdings following the scheme becoming effective.

The merger is expected to complete by early 2020.

Liberum has been broker to Charles Taylor since September 2016.

Liberum Team

Investment Banking – Richard Crawley, Joshua Hughes, Kane Collings

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