2nd Oct 2007 07:23
Peel Hldgs PLC02 October 2007 2 October 2007 Peel Land and Property Investments Limited ('Peel') Statement re appointment of Peel representative to the Board of UK Coal plc ('UKCoal'). Further to the announcement by UK Coal earlier today that Mr Owen Michaelson, asenior executive of Peel, is to be appointed as a non-executive director of UKCoal, the Board of Peel confirms that its shareholding is held for investmentpurposes only and that it has no intention to make an offer for UK Coal. In connection with the appointment of a representative of Peel as a director ofUK Coal, Peel has given the following undertakings to the Board of UK Coal: 1. Peel confirms that it will remain bound by the intentions stated in thisannouncement during the period that Mr Michaelson or any other representative ofPeel (the 'Peel Representative') is a director of UK Coal, and for a furtherperiod of six months in the event that the Peel Representative resigns, isremoved or otherwise ceases to be a director of UK Coal (in each case where noreplacement Peel Representative is appointed as a director of UK Coal). 2. If the Peel Representative resigns, is removed or otherwise ceases to be adirector of UK Coal (in each case where no replacement Peel Representative isappointed as a director of UK Coal), then upon such event, Peel will make afurther announcement confirming that it will remain bound by the intentionsstated in this announcement for a further period of six months following suchevent. 3. Peel reserves the right to set aside the above statements and to make orparticipate in an offer for UK Coal if any of the following events occurs: i. UK Coal announces that it is in discussions which may or may not lead to an offer for UK Coal, or formally invites an offer for UK Coal; ii. If any announcement is made by or on behalf of a third party relating to the making of an offer or a possible offer (whether full or partial) for UK Coal; iii. The agreement or recommendation of the Board of UK Coal for any offer (whether full or partial) is forthcoming; and iv. Upon the announcement by or on behalf of UK Coal of a 'whitewash' proposal (for the purposes of Note 1 on the dispensation from Rule 9 of the City Code). Contact: Neil Lees Company Secretary0161 829 8200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Harworth Gp