21st May 2007 17:29
Michelmersh Brick Holdings PLC21 May 2007 Michelmersh Brick Holdings plc ("Michelmersh") Baggeridge Brick Plc The Board of Michelmersh announced on 16 April that it had acquired 17.43 percent. of Baggeridge Brick Plc ("Baggeridge"). On 16 May 2007 the Board ofMichelmersh announced that it had acquired a further 5,000 shares in Baggeridgeas a result of which Michelmersh's shareholding in Baggeridge was 7,205,000representing 17.44 per cent. of the issued share capital of Baggeridge. Michelmersh has today purchased 2,342,869 shares in Baggeridge at a price of 225pence per share. Following this purchase Michelmersh's shareholding inBaggeridge is now 9,547,869 shares, representing 23.12 per cent. of the issuedshare capital of Baggeridge. Enquiries: Charles Stanley Securities 020 7149 6000Russell CookAnthony Noakes Tavistock Communications 020 7920 3150Jeremy CareyRichard Sunderland Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if anyperson is, or becomes, 'interested' (directly or indirectly) in 1% or more ofany class of 'relevant securities' of Baggeridge, all 'dealings' in any'relevant securities' of that company (including by means of an option inrespect of, or a derivative referenced to, any such 'relevant securities') mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe 'offer period' otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an'interest' in 'relevant securities' of Baggeridge, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevantsecurities' of Baggeridge by Michelmersh or by any of its respective'associates', must be disclosed by no later than 12.00 noon (London time) on theLondon 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 virtue of any option inrespect 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:
Michelmersh Brick Holdings