3rd Feb 2006 18:00
Lookers PLC03 February 2006 3 February 2006 Lookers plc Response to Pendragon ("Pendragon PLC") Announcement Lookers plc ("Lookers") notes Pendragon's announcement in relation to its offerfor Reg Vardy PLC ("Reg Vardy") this afternoon. Lookers is reviewing theannouncement and considering its response. Lookers will make a furtherannouncement in due course. Enquiries: Lookers plc Tel.: 0161 291 0043Ken Surgenor, Chief ExecutiveDavid Dyson, Finance Director NM Rothschild & Sons Limited Tel.: 0161 827 3800Andrew Thomas Hudson Sandler Tel.: 020 7796 4133Andrew Hayes/Nick Lyon/James Hill Numis Securities Tel.: 020 7766 1500Christopher Wilkinson 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% or more of any class of "relevant securities" of Lookers, Reg Vardy orPendragon, all "dealings" in any "relevant securities" of that company(including by means of an option in respect of, or a derivative referenced to,any such "relevant securities") must be publicly disclosed by no later than 3:30pm (London time) on the London business day following the date of the relevanttransaction. This requirement will continue until the date on which the offerbecomes, or is declared, unconditional as to acceptances, lapses or is otherwisewithdrawn or on which the "offer period" otherwise ends. If two or more personsact together pursuant to an agreement or understanding, whether formal orinformal, to acquire an "interest" in "relevant securities" of Lookers, RegVardy or Pendragon, they will be deemed to be a single person for the purpose ofRule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Lookers, Reg Vardy or Pendragon, or by any of their respective "associates", must be disclosed by no later than 12:00 noon (London time) on theLondon business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.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 the virtue of any optionin respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
LOOK.LPDG.L