19th Dec 2007 13:24
Guinness Peat Group PLC19 December 2007 Not for release, publication or distribution, in whole or in part, in, into or from the US, Canada or Australia or any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction. GPG Acquisitions No. 5 Limited (a wholly owned subsidiary of Guinness Peat Group plc) FURTHER RE: CASH OFFER FOR NEWBURY RACECOURSE PLC 19 December 2007 GPG Acquisitions notes the defence circular posted yesterday by NewburyRacecourse and which, in its view, is long on rhetoric and innuendo butglaringly fails to address the key issues critical to Shareholders. In particular, the defence circular fails to provide:- - any assurance that 2007 will NOT be the fifth successive year of operating losses* for Newbury Racecourse; - any real comfort as to the Newbury Board's ability to execute successfully its proposed transformation of the Company into a leisure, entertainment and events business; - any assurance that the net returns from the proposed partnership, in respect of the Company's substantial surplus land, will, in today's monetary terms, be in excess of £7 per Newbury Racecourse Share. *before exceptional items GPG remains convinced that its premium offer of £11 cash per Newbury RacecourseShare provides an attractive alternative to an uncertain future under thestewardship of the current Newbury Board and has no hesitation in recommendingit to Shareholders for their serious and immediate consideration. A further communication will be made to Shareholders in due course. ENQUIRIES GPG Acquisitions No. 5 Limited Tel: (020) 7484 3370Blake Nixon, Director Strand Partners Limited Tel: (020) 7409 3494Simon Raggett Citigate Dewe Rogerson Tel: (020) 7638 9571Kevin Smith OTHER INFORMATION Terms defined in the document posted to Shareholders on 7 December 2007containing the formal Offer for Newbury Racecourse have the same meaning in thisannouncement. Copies of the Offer Document and the Form of Acceptance remain available (duringnormal business hours) from Strand Partners at 26 Mount Row, London W1K 3SQ andfrom the offices of Computershare Investor Services PLC, The Pavilions,Bridgwater Road, Bristol BS99 7NH throughout the period during which the Offerremains open for acceptance. Strand Partners, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for GPG Acquisitions and noone else in connection with the Offer and Strand Partners will not regard anyother person as a client in relation to the Offer and will not be responsible toanyone other than GPG Acquisitions for providing the protections affordedexclusively to its clients or for providing advice in relation to the Offer, thecontents of this announcement or any transaction or arrangement referred toherein. The availability of the Offer to persons not resident in and citizens of theUnited Kingdom may be affected by laws of the relevant jurisdictions in which they are citizens or in which they are resident. Such Overseas Shareholders should inform themselves about, and observe, any applicable legal or regulatory requirements of any suchrelevant jurisdiction. In particular, the Offer is not being made, directly orindirectly, in, into or from or by the use of the mails of or any means orinstrumentality (including, without limitation, by means of facsimiletransmission, telex, telephone, internet or other forms of electroniccommunication) of interstate or foreign commerce of, or by any facility of anational, state or other securities exchange of, the United States, or in, intoor from Canada or Australia or any other jurisdiction if to do so wouldconstitute a violation of the relevant laws of such jurisdiction, and the Offerwill not be capable of acceptance by any such use, means, instrumentality orfacility from or within the United States, Canada or Australia or any otherjurisdiction where to do so would constitute a breach of any relevant securitieslaws of that jurisdiction. Accordingly, copies of this announcement and theOffer Document are not being, and must not be, mailed or otherwise distributedor sent in or into or from the United States, Canada or Australia. This announcement does not constitute, or form part of, an offer to sell orpurchase or an invitation to purchase or subscribe for any securities or thesolicitation of an offer to sell, purchase or subscribe for any securities,pursuant to the Offer or otherwise. The Offer will be made solely by way of theOffer Document and the related Form of Acceptance, contain the full terms andconditions of the Offer. This information is provided by RNS The company news service from the London Stock Exchange ENDRelated Shares:
Coats