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The Panmure Gordon Board and the Bidco Board are pleased to announce that they have reached agreement regarding the terms of a recommended acquisition pursuant to which Bidco intends to acquire the entire issued and to be issued share capital of Panmure Gordon, other than the Excluded Shares (the "Acquisition"). The Acquisition is intended to be effected by means of a scheme of arrangement under Part 26 of the Companies Act (the "Scheme") (or if Bidco elects, with the consent of the Panel, by way of a Takeover Offer).
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