13th Nov 2006 17:39
Crest Nicholson PLC13 November 2006 13 November 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO ORFROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THERELEVANT LAWS OF SUCH JURISDICTION Crest Nicholson PLC ("Crest Nicholson" or the "Company") Clarification of Castle Bidco Limited ("Castle Bidco") shareholding The Board of Crest Nicholson notes Castle Bidco's announcement of Friday 10November confirming its approach to the Company at 585 pence per share and itsshareholding of 26,310,243 shares, representing 23.3% of the Company's existingissued share capital. The Board can confirm that it has received a S198notification from HBOS plc declaring a holding of 30,688,463 shares in theCompany. The Company understands that the majority of the additional sharesdisclosed in the S198 notification are held by Insight Investment ManagementLimited, a wholly owned subsidiary of HBOS plc. Enquiries: Brunswick Group LLP Tel: 020 7404 5959Andrew Fenwick/Kate Miller Dresdner Kleinwort Limited Tel: 020 7623 8000Charles BattenMichael CovingtonAngus Kerr (Corporate Broking) The release, publication or distribution of this announcement in certainjurisdictions may be restricted by law. Persons who are not resident in theUnited Kingdom or who are subject to the laws of other jurisdictions shouldinform themselves of, and observe, any applicable requirements. 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 Crest Nicholson PLC, all "dealings" in any"relevant securities" of Crest Nicholson PLC (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until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends.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 Crest Nicholson PLC, they will be deemedto 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 Crest Nicholson PLC by Castle Bidco, Crest Nicholson PLC 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 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. Dresdner Kleinwort Limited, which is authorised and regulated by the FinancialServices Authority, is acting for Crest Nicholson PLC and for no one else inconnection with the above matter and will not be responsible to anyone otherthan Crest Nicholson PLC for providing the protections afforded to customers ofDresdner Kleinwort Limited or for affording advice in relation to any mattersreferred to in this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Crest Nicholson