Regulation 20 WithdrawalI1

A tender participant may withdraw from a tender exercise at any time and with immediate effect by giving notice in writing of that fact to the competent authority.

A tender participant (“Participant A”) who withdraws from a tender exercise may only be re-admitted to that tender exercise in accordance with paragraphs (3) or (4).

Participant A may be re-admitted to the tender exercise where, after the withdrawal of Participant A, the tender exercise is cancelled and re-run from—

Subject to paragraph (5), Participant A may be re-admitted to the tender exercise as a result of a change to the membership of a bidder group in accordance with regulation 22 which results in the incorporation of Participant A in that bidder group.

Paragraph (4) does not apply where Participant A is a selected qualifying bidder, preferred applicant, reserve applicant or successful applicant.