StockMarketWire.com - The Deltic Group has responded to an earlier announcement, in respect of the rejected offer made by Stonegate to acquire Revolutions Bars, with the following statement:

"As Revolution shareholders will be aware, Deltic released an announcement of the terms of its possible merger proposal on 5 October 2017 and a possible revised merger proposal on 9 and 10 October 2017 before being required to release a further announcement on 10 October 2017, which stated that they did not intend to make a cash offer or merger proposal for Revolution due to their Rule 2.6 deadline having been reached. That announcement stated that Deltic was bound by the restrictions in Rule 2.8 of the Code but had reserved the right in certain circumstances to announce an offer or whitewash proposal (such as its Revised Merger Proposal) and take other action which would otherwise be restricted under Rule 2.8 of the Code within the next six months following the date of that announcement. Those restrictions do not apply in circumstances set out in that announcement, including in particular (a) where the board of directors of Revolution so agrees (following the lapse of Stonegate's offer), or (b) a third party announces a firm intention to make an offer for Revolution."




At 1:58pm: [LON:RBG] Revolution Bars Group Plc share price was -3.12p at 183.88p



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