14th Jul 2005 07:01
Chaucer Holdings PLC14 July 2005 Chaucer Holdings PLC ("Chaucer") Offer Talks Terminated The Board of Chaucer Holdings PLC ("Chaucer") notes the announcement released byAmlin earlier today, which stated: "Further to the announcement of 9 June 2005, the Board of Amlin has decided notto make an offer for Chaucer. Having completed its review of Chaucer, Amlin hasconcluded that sufficient value for its shareholders could not be created byproceeding with a transaction. For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers, Amlinreserves the right to make or participate in an offer within the next six months in the event that the Board of Chaucer agrees to recommend such an offer or a third party announces a firm intention to make an offer for Chaucer." As stated in the AGM update on 26 May 2005, the Board of Chaucer remainscommitted to developing its leading franchise at Lloyd's and to deliveringattractive returns on capital for its shareholders across the insurance cycle.The Board of Chaucer will maintain the previously announced progressive dividend policy which aims to increase dividends by approximately 10% per annum from 2005 to 2008. Trading in all areas for the year to date has been encouraging. Enquiries: Chaucer Holdings PLC 020 7397 9700Ewen Gilmour, Chief ExecutiveBob Stuchbery, Group Underwriting Director Financial Dynamics 020 7269 7229Robert Bailhache Dresdner Kleinwort Wasserstein Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Chaucer and no one else in connection with this matter and will not be responsible to anyone else other than Chaucer for providing the protections afforded to customers of Dresdner Kleinwort Wasserstein Limited or for giving advice in relation to this matter or in relation to the contents of this announcement. Kinmont Limited, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting for Chaucer and no one else inconnection with this matter and will not be responsible to anyone else otherthan Chaucer for providing the protections afforded to customers of KinmontLimited or for giving advice in relation to this matter or in relation to thecontents of this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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