8th Sep 2005 17:46
Ottakar's PLC08 September 2005 OTTAKAR'S PLC ("OTTAKAR'S" OR "THE COMPANY") The Independent Directors of Ottakar's ("the Independent Directors") note theintention to make a cash offer of 440 pence per Ottakar's share ("Offer")announced today by UBS Limited on behalf of HMV Group plc ("HMV"). The Independent Directors are currently seeking clarification from HMV withregard to the terms and conditions of the Offer and, in particular, condition 1(B) regarding UK competition clearance. A further announcement will be made as soon as practicable and, accordingly, theIndependent Directors advise shareholders to take no action in the meantime. Enquiries: Independent Directors of Ottakar's Tel: 020 7978 7700Christopher John ThorntonDavid AdamsMark Fane Bridgewell (Financial adviser to Ottakar's) Tel: 020 7003 3000John CravenStephen Cheung Teather & Greenwood (Broker to Ottakar's) Tel: 020 7426 9000Jeff KeatingJames Maxwell Buchanan (PR adviser to Ottakar's) Tel: 020 7466 5000Charles RylandNicola Cronk Bridgewell Securities Limited ("Bridgewell"), which is authorised and regulatedin the United Kingdom by the Financial Services Authority, is acting exclusivelyfor Ottakar's and for no one else in connection with the Offer and will not beresponsible to any person other than Ottakar's for providing the protectionsafforded to customers of Bridgewell, nor for providing advice to any otherperson in relation to the Offer. Teather & Greenwood Limited ("Teather & Greenwood"), which is authorised andregulated in the United Kingdom by the Financial Services Authority, is actingexclusively for Ottakar's and for no one else in connection with the Offer andwill not be responsible to any person other than Ottakar's for providing theprotections afforded to customers of Teather & Greenwood, nor for providingadvice to any other person in relation to the Offer. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hmv Group