Harwood to withdraw proposed tender offer for Fulcrum after changes agreed to the board

Gas and electricity provider Fulcrum Utility Services Limited today revealed it had reached an agreement with Harwood Capital  and Bayford Group on issues relating to the composition of the board.
The announcement has been made to the stock exchange.The announcement has been made to the stock exchange.
The announcement has been made to the stock exchange.

The company also announced that Harwood has agreed to withdraw the proposed tender offer announced on April 9 2020.

In a statement, Fulcrum said: "The company intends to appoint Jeremy Brade and Jonathan Turner to the board as non-executive directors in short order following final due diligence.

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"As a condition of their appointment to the board on behalf of Harwood and Bayford respectively, the company has today entered into relationship agreements with each of Harwood and Bayford in order to provide the company with customary protections along with these shareholders' rights of board representation."

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