# Bovis Homes Group PLC Completes Acquisition of the Linden Homes and Partnerships & Regeneration businesses

- Link: https://www.directorstalkinterviews.com/bovis-homes-group-plc-completes-acquisition-of-the-linden-homes-and-partnerships-regeneration-businesses/412801857
- Published: 2020-01-03T07:19:29+00:00
- Author: Giles Arbor

**Bovis Homes Group PLC** (LON: BVS) has announced that it has completed the acquisition
of Galliford Try plc’s (LON: GFRD) Linden Homes and Partnerships & Regeneration 
businesses.

> **Greg Fitzgerald, CEO of Bovis Homes Group, said:**
> “I am delighted that we have completed the exciting and transformational acquisition
> of the Linden Homes and Partnerships & Regeneration businesses of Galliford Try
> plc.
> The combination of these businesses with Bovis Homes creates a top five housebuilder
> in the UK with the capacity to deliver over 12,000 homes per year in the medium
> term. It also gives us a leading position in the high-growth, more resilient partnerships
> market. Within the enlarged business, our commitment to ensuring the highest levels
> of build quality and customer satisfaction will remain central to everything we
> do.
> We would like to thank all shareholders for their engagement in this process and
> look forward to delivering the clear strategic and financial benefits of this 
> combination.
> Finally, I would like to extend a very warm welcome to all our new colleagues 
> and thank everyone collectively for their continued hard work and focus on our
> customers during this busy period.”

Bovis Homes is also pleased to announce that, with effect from completion, Graham
Prothero, who was the Chief Executive Officer of Galliford Try, has been appointed
as Chief Operating Officer of the Company. Biographical details of Graham Prothero
and details of his other appointments are contained in the Prospectus published 
in connection with the Acquisition on 7 November 2019.

**Change of Name**

It was announced on 7 November 2019 that the Company would assume a new corporate
name as part of the integration process of the Target Businesses. The Company is
pleased to announce that it will today make an application to the Registrar of Companies
to change its name to Vistry Group PLC. This new corporate name will be used for
both the enlarged Group’s housebuilding and partnerships businesses. The enlarged
housebuilding business will operate with both the Bovis Homes and Linden Homes brands,
maximising the opportunities from dual-branding.

**Bonus Issue**

The 5,665,723 ordinary shares of £0.50 each to be issued to shareholders on the 
Company’s register of members as at 6.00 p.m. on 2 January 2020 pursuant to the 
bonus issue announced on 7 November 2019 (the “Bonus Issue”) are expected to be 
admitted to the premium listing segment of the Official List maintained by the Financial
Conduct Authority and to trading on the London Stock Exchange’s main market for 
listed securities at 8.00 a.m. on 3 January 2020.

**Consideration Shares Issue**

The 63,739,385 new ordinary shares of £0.50 each issued to the shareholders of Galliford
Try in part consideration for the Acquisition (the “Consideration Shares”) are expected
to be admitted to the premium listing segment of the Official List maintained by
the Financial Conduct Authority and to trading on the London Stock Exchange’s main
market for listed securities at 8.00 a.m. on 3 January 2020. Recipients of Consideration
Shares are not entitled to shares under the Bonus Issue.

In accordance with the FCA Disclosure Guidance and Transparency Rules (“DTR”), subsequent
to the Consideration Shares Issue and Bonus Issue, the Company’s issued share capital
consists of 217,742,860 ordinary shares. There are no ordinary shares held in treasury.
Therefore, the total number of voting rights in the Company is 217,742,860.

This figure, 217,742,860, may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their interest
in, or a change to their interest in, the Company under the DTR.

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