12th Dec 2005 07:02
Balfour Beatty PLC12 December 2005 12 December 2005 Balfour Beatty plc ("Balfour Beatty") - Announcement re: Mowlem plc ("Mowlem") Balfour Beatty confirms that it is considering making an offer for Mowlem. There is no certainty that an offer will be forthcoming. A further announcement will be made in due course. Enquiries to: Tim SharpTel: 020 7216 6884 Rule 2.10 Disclosure In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, BalfourBeatty confirms that it has 427,074,946 ordinary shares of 50 pence each inissue. The International Securities Identification Number (ISIN) for the Company'sordinary shares is GB0000961622. Dealing Disclosure Requirements Please note that certain aspects of the rules on disclosure of the City Code onTakeovers and Mergers (the "Code") have changed since 7 November 2005. Thefollowing represents a current summary of the position. Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,"interested" (directly or indirectly) in 1% or more of any class of "relevantsecurities" of Balfour Beatty or of Mowlem, all "dealings" in any "relevantsecurities" of that company (including by means of an option in respect of, or aderivative referenced to, any such "relevant securities") must be publiclydisclosed by no later than 3.30 pm (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which the offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the "offer period"otherwise ends. If two or more persons act together pursuant to an agreement or understanding,whether formal or informal, to acquire an "interest" in "relevant securities" ofBalfour Beatty or Mowlem, they will be deemed to be a single person for thepurpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Balfour Beatty or of Mowlem by Balfour Beatty or Mowlem, or byany of their respective "associates", must be disclosed by no later than 12.00noon (London time) on the London business day following the date of the relevanttransaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when aperson has long economic exposure, whether conditional or absolute, to changesin the price of securities. In particular, a person will be treated as having an"interest" by virtue of the ownership or control of securities, or by virtue ofany option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Balfour Beatty