29th Mar 2005 17:06
Takeover Panel29 March 2005 2005/22 CREST NICHOLSON PLC ("CREST") HERON CORPORATION ("HERON") Following recent representations made by the advisers to Crest, the PanelExecutive has been considering the application of Rule 2.4(b) of the Code to theapproach by Heron to Crest. Following discussions with both parties' advisers,the Panel Executive has ruled that Heron must, by 12.00 noon on Wednesday, 4May, either announce a firm intention to make an offer for Crest under Rule 2.5of the Code or announce that it does not intend to make an offer for Crest. Noextension to this deadline will be granted, except with the consent of the PanelExecutive. In the event that Heron announces that it does not intend to make anoffer for Crest, Heron and any person acting in concert with it will, exceptwith the consent of the Panel Executive, be bound by the restrictions containedin Rule 2.8 of the Code for six months from the date of such announcement. Each of the parties has accepted this ruling. 29 March 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Crest Nicholson