16th Nov 2005 13:11
Vardy(Reg) PLC16 November 2005 16 November 2005 Reg Vardy plc "Reg Vardy" or "the Company") In talks announcement The Board of Reg Vardy has noted the recent increase in the Company'sshare price. The Board can confirm that it has received an unsolicited approachfrom Pendragon PLC. This may or may not lead to a cash offer for the whole ofthe issued share capital of Reg Vardy valued at 750 pence per share. Discussions between the parties are taking place but there can be no certaintythat an offer will be forthcoming or the other terms of any offer, if made. TheBoard will make a further announcement in due course. This announcement has been made with the approval of Pendragon PLC. - Ends - Enquiries: Financial Dynamics 020 7831 3113 Jonathon Brill Billy Clegg Dresdner Kleinwort Wasserstein 020 7623 8000 Charles Batten Michael Covington Dresdner Kleinwort Wasserstein Limited ("Dresdner Kleinwort Wasserstein") which is regulated in the United Kingdom by The Financial Services Authority is acting for Reg Vardy in relation to any potential offer and is not advising any other person, and accordingly will not be responsible to anyone other than Reg Vardy for providing the protections afforded to customers of Dresdner Kleinwort Wasserstein or for providing advice in relation to any potential offer. Rule 2.10 disclosure In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, RegVardy confirms that it has 56,252,898 ordinary shares of 10 pence each in issue. The International Securities Identification Number (ISIN) for the Company's ordinary shares is GB0009272401. 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 Reg Vardy, 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until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends.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 Reg Vardy, 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 Reg Vardy, or by any of their respective "associates", must bedisclosed by no later than 12.00 noon (London time) on the London business dayfollowing the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and thenumber of such securities in issue, can be found on the Takeover Panel'swebsite at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person haslong economic exposure, whether conditional or absolute, to changes in the priceof securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or byvirtue of any 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 arerequired to disclose a "dealing" under Rule 8, you shouldconsult the Panel." This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PDG.L