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FirstGroup Board Rejects Proposal From I Squared

FirstGroup PLC (FGROY.PK,FGROF.PK,FGP.L) said its Board, having carefully evaluated the proposal from I Squared, concluded that the cash component of 118 pence per FirstGroup share significantly undervalues the Group's continuing operations and its future prospects, and the contingent right to up to 45.6 pence per FirstGroup share does not provide shareholders with sufficient certainty. As a result, the Board has unanimously rejected the proposal.

FirstGroup expects to announce its results for the year ended 26 March 2022 on 14 June 2022.

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