21st Jul 2008 07:00
Luminar Group Holdings plc
("Luminar")
Statement re press speculation
Luminar has noted the media speculation regarding an informal offer being made by Luminar for Regent Inns plc (" Regent Inns"). Luminar has not made an informal offer for Regent and is not in any discussions with Regent, but is, as announced, actively pursuing a number of options for the disposal of its 49% stake in 3D Entertainment ("3DE").
It is disappointing to note that Regent Inns has always declined to enter any discussions with representatives of 3DE to evaluate the financial and commercial logic of a combination of 3DE and Regent Inns to the benefit of shareholders in 3DE and Regent Inns.
There is no certainty that any discussions between 3DE and Regent Inns would lead to an offer being made for Regent Inns. Further announcements will be made if appropriate.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Regent Inns, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends.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' of Regent Inns plc or, they will 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 'relevant securities' of Regent Inns plc, by Regent Inns or by any of its respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in 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 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 the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.
21 July 2008
Enquiries
|
Luminar Group Holdings plc |
|
|
Stephen Thomas, Chief Executive |
01908 544120 |
|
Nick Beighton, Finance Director |
01908 544135 |
|
College Hill |
|
|
Matthew Smallwood |
07831 379122 |
Related Shares:
REG.L