9th Mar 2006 10:12
Lookers PLC09 March 2006 9 March 2006 Lookers plc The Board of Lookers plc ("Lookers" or "the Company") notes the announcementmade by Pendragon PLC ("Pendragon") this morning regarding an offer for theCompany. The Board is reviewing the situation and will make a furtherannouncement in due course. In the meantime, shareholders are urged to take noaction at the current time. -ends- Enquiries: Lookers plc Tel.: 0161 291 0043Ken Surgenor, Chief ExecutiveDavid Dyson, Finance Director NM Rothschild & Sons Limited Tel.: 0161 827 3800Andrew Thomas Hudson Sandler Tel.: 020 7796 4133Andrew Hayes/Nick Lyon/James Hill Numis Securities Tel.: 020 7776 1500Christopher Wilkinson Dealing Disclosure Requirements: Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the"Code"), if any person is, or becomes, "interested" (directly or indirectly) in1% or more of any class of "relevant securities" of Lookers or Pendragon, all "dealings" in any "relevant securities" of that company (including by means of anoption in respect of, or a derivative referenced to, any such "relevantsecurities") must be publicly disclosed by no later than 3:30pm (London time) onthe London business day following the date of the relevant transaction. Thisrequirement will continue until the date on which the offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends. If two or more persons act togetherpursuant to an agreement or understanding, whether formal or informal, toacquire an "interest" in "relevant securities" of Lookers or Pendragon, theywill be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Lookers or Pendragon, by Lookers or Pendragon or by any of theirrespective "associates", must be disclosed by no later than 12:00 noon (Londontime) on the London business day following the date of the relevant transaction. 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 a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by the virtue of any optionin 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:
LOOK.LPDG.L