9th Apr 2008 16:24
Braveheart Investment Group plc09 April 2008 Not for release, publication or distribution in whole or in part, in or into theUnited States, Canada, Australia, Japan or the Republic of Ireland Braveheart Investment Group plc ("Braveheart" or the "Company") Possible Offer Braveheart is considering making a recommended offer for the entire issued andto be issued share capital of ANGLE. The consideration for any such offer wouldbe satisfied in full by the issue of new ordinary shares in Braveheart. Prior to ANGLE entering into an offer period, Braveheart obtained signed,non-binding, letters of intent to support a recommended offer from institutionalshareholders in ANGLE, in respect of shares representing 35.76 per cent. ofANGLE's issued ordinary share capital. The Board of Braveheart intends shortly to meet with the board of ANGLE to seekaccess to further information with a view to obtaining a recommendation for anyproposed offer.A further announcement will be made as and when appropriate. There can be no certainty that an offer will be made at all. It would be aprecondition to making an offer that Braveheart receive a recommendation fromthe Board of ANGLE and that (in the opinion of the Board of Braveheart) nomaterial adverse findings arose from due diligence. Were a recommendation notforthcoming and/or due diligence on ANGLE give rise to any such material adversefindings then the Board of Braveheart reserve the right not to proceed with anoffer. These preconditions are capable of being waived at the discretion of theBoard of Braveheart. Even if the preconditions are satisfied or waived there canbe no certainty that an offer will be made. An offer, if made, will require thepublication of a prospectus or prospectus equivalent document for Braveheart, asenlarged by the acquisition of ANGLE. For further information please contact: Braveheart Investment Group plcGarry Watson, Chairman Tel: 01738 587555 Noble & Company LimitedDavid Ovens, Director Tel: 0131 225 9677 Seymour Pierce Limited (nomad/broker to Braveheart)Jeremy Garrett-Cox, Director Tel: 020 7107 8000 Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the"Code"), if any person is, or becomes, "interested" (directly or indirectly) in1 per cent. or more of any class of "relevant securities" of ANGLE plc, all"dealings" in any "relevant securities" of that company (including by means ofan option in respect of, or a derivative referenced to, any such "relevantsecurities") 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. Thisrequirement will continue until the date on which the offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends. If two or more persons act togetherpursuant to an agreement or understanding, whether formal or informal, toacquire an "interest" in "relevant securities" of ANGLE plc, they will be deemedto be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of ANGLE plc by ANGLE plc or by any of its "associates", must bedisclosed by no later than 12.00 noon (London time) on the London business dayfollowing the date of the relevant transaction. A disclosure table, givingdetails of the companies in whose "relevant securities" "dealings" should bedisclosed, and the number of such securities in issue, can be found on theTakeover Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marksare defined in the Code, which can also be found on the Panel's website. If youare in any doubt as to whether or not you are required to disclose a "dealing"under Rule 8, you should consult the Panel. Rule 2.10 RequirementIn accordance with Rule 2.10 of the City Code on Takeovers and Mergers,Braveheart Investment Group plc confirms that it currently has in issue13,403,895 ordinary shares of 2 pence each. The International SecuritiesIdentification Number for the ordinary shares is BRH.L. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Braveheart Investments