4th Jul 2008 17:55
2008/30
GRAINGER PLC ("Grainger")
REGIS GROUP PLC ("REGIS")
Following recent representations made by the advisers for Grainger, the Panel Executive has been considering the application of Rule 2.4(b) of the Code to the announcement made by Regis, on 30 June 2008, in respect of Grainger. Following discussions with both parties' advisers, the Panel Executive has ruled that, unless the Panel Executive consents otherwise, Regis must, by 5.00 p.m. on 19 August 2008, either announce a firm intention to make an offer for Grainger under Rule 2.5 of the Code or announce that it does not intend to make an offer for Grainger. In the event that Regis announces that it does not intend to make an offer for Grainger, Regis and any person(s) acting in concert with it will, except with the consent of the Panel Executive, be bound by the restrictions contained in Rule 2.8 of the Code for six months from the date of such announcement.
Each of the parties has accepted this ruling.
4 July 2008
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