28th Sep 2007 12:14
Celtic Resources Holdings PLC28 September 2007 Celtic Resources Holdings Plc ("Celtic" or "the Company") Rejection of unsolicited offer from Severstal The Board of Celtic (the "Board") notes the announcement made this morning bySeverstal Resurs ZAO ("Severstal") of its offer at 270 pence in cash for all ofthe issued and to be issued share capital of Celtic (the "Proposed Offer"). TheBoard, which is being advised by Gleacher Shacklock and Strand Partners Limited,believes that this offer significantly undervalues the Company and should berejected by shareholders. The Board's detailed views on the unsolicited Proposed Offer and whyshareholders of the Company should reject it will be sent to shareholders in duecourse. The Board urges shareholders to take no action in respect of their shareholdingsand not to sell in the market. Enquiries: Celtic Resources Holdings PlcKevin Foo / Jonathan Scott-BarrettTel: + 44 (0)20 7921 8800 Gleacher Shacklock LLPKieran MurphyTel: +44 (0)20 7484 1120 Strand Partners LimitedSimon RaggettStuart FaulknerTel: +44 (0)20 7409 3494 Anthony CardewCardew GroupTel: +44 (0)20 7930 [email protected] Leesa Peters / Jane StaceyConduit PRTel: +44 (0)20 7429 6606 / (0)792 292 [email protected] Any person who is the holder of 1 per cent. or more of any class of shares inCeltic may be required to make disclosures pursuant to Rule 8.3 of the IrishTakeover Panel Act, 1997, Takeover Rules 2001 to 2006. The Directors of Celticaccept responsibility for the information contained in this announcement and tothe best of their knowledge and belief (having taken all reasonable care toensure that such is the case), the information contained in this announcement isin accordance with the facts and, where appropriate, does not omit anythinglikely to affect the import of such information. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cerillion