22nd Aug 2006 15:36
Peel Hldgs PLC22 August 2006 22 August 2006 Peel Land and Property Investments Limited ("Peel") Statement re pressspeculation of its shareholding in UK Coal plc ("UK Coal"). The Board of Peel notes the recent press speculation with regard to itsshareholding in UK Coal. At this time its shareholding is held for investmentpurposes and there is no intention to make an offer for UK Coal. For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers ("CityCode"), Peel reserves the right to set aside the statement above and to make orparticipate in an offer for UK Coal if any of the following events occurs: i) UK Coal announces that it is in discussions which may or may not lead to an offer for UK Coal, or formally invites an offer for UK Coal; ii) If any announcement is made by or on behalf of a third party relating to the making of an offer or a possible offer (whether full or partial) for UK Coal; iii) The agreement or recommendation of the Board of UK Coal for such an offer is forthcoming; iv) Upon the announcement by or on behalf of UK Coal of a "whitewash" proposal (for the purposes of Note 1 on the dispensation from Rule 9 of the City Code) or any other proposal to implement a scheme of arrangement, reverse takeover or any other business combination with a third party; v) UK Coal undertaking or announcing an intention to undertake any material recapitalisation (where material is defined as 10% of the market capitalisation of UK Coal as at the close of business on the date of this announcement) or disposal of a material amount (where "material amount" is as defined in Note 2 on Rule 21.1 of the City Code). Contact name Neil LeesCompany Secretary0161 629 8200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Harworth Gp