Peel Group reaches 75% stake in Harworth, plans delisting

Peel Pepper (UK) Limited, indirectly owned by Peel Holdings Group Limited, has secured the necessary approvals to increase its stake in Harworth Group Plc to 75.35 percent, according to a press release. As of today's 1:00 p.m. update, BidCo obtained valid acceptances for 12,795,506 Harworth shares, which equates to around 3.91 percent of the total issued shares. With already held shares, BidCo now owns 246,411,237 Harworth shares, representing over 75% of the total.

The group plans to petition the Financial Conduct Authority and the London Stock Exchange to delist Harworth's shares from the Official List and Main Market, respectively. Delisting and cancellation are expected to commence no earlier than 20 business days after today's announcement, with no new transfers allowed post 6:00 p.m. on that date. Upon delisting, Harworth will be reclassified as a private limited company.

The offer for Harworth shares remains open for acceptance, with BidCo and Harworth needing to provide at least 14 days' notice before the final acceptance date, which cannot be before October 23, 2026. On October 2, 2026, Harworth's directors resigned, and new directors appointed by BidCo took their place on the board.

If BidCo receives acceptances for 90 percent or more of Harworth shares, and all statutory requirements are met, BidCo intends to utilize its compulsory acquisition rights to purchase the remaining shares at the same price. This information was generated with AI assistance and reviewed by a human editor. For further details, see the source's Terms and Conditions.