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Pendragon takes slice of Vardy

Pendragon has exercised its call option which lets it take control over Sir Peter Vardy’s 9,348,111 Reg Vardy shares.

Pendragon said it intends to vote with the shares against Lookers proposed bid for Reg Vardy which will take place at a court meeting and extraordinary general meeting on February 20.

Pendragon also announced yesterday, the third closing date of their offer of 800p per Reg Vardy share, valid acceptances had been received in respect of a total 15,578,512 Reg Vardy shares, representing approximately 27.7% of Reg Vardy’s issued share capital.

Pendragon’s original offer has again been extended until 3pm, February 15.

Lookers made its own offer for Reg Vardy on January 17, at 875p per share, which was accepted.

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