4th May 2006 12:07
Mitchells & Butlers PLC04 May 2006 4 May 2006 Mitchells & Butlers plc Response to 550p proposal for Mitchells & Butlers plc Further to the announcement released earlier this morning by Mitchells andButlers plc (the "Company"), the letter referred to in that announcement whichwas received by the Company from a consortium led by the Tchenguiz Family Trust("the Consortium") may also be read by clicking on the following link http://www.rns-pdf.londonstockexchange.com/rns/4378c_-2006-5-4.pdf. For further information please contact: Investor Relations: 0121 498 5092Kate Holligon [email protected] ------------------------- Media:James Murgatroyd / James Leviton (Finsbury Group) 0207 251 3801 Citigroup which is authorised and regulated in the United Kingdom by TheFinancial Services Authority, is acting as financial adviser to Mitchells &Butlers plc ("Mitchells & Butlers") and no one else in connection with theproposal made to Mitchells & Butlers and will not be responsible to anyone otherthan Mitchells & Butlers for providing the protections afforded to customers ofCitigroup nor for providing advice in relation to the proposal. The directors of Mitchells & Butlers accept the responsibility for theinformation contained in this announcement. To the best of the knowledge andbelief of the directors of Mitchells & Butlers (who have taken all reasonablecare to ensure that such is the case) the information contained in thisannouncement is in accordance with the facts and does not omit anything likelyto affect the import of such information. The distribution of this announcement in jurisdictions other than the UnitedKingdom may be restricted by law and therefore persons into whose possessionthis announcement comes should inform themselves about, and observe, suchrestrictions. Any failure to comply with the restrictions may constitute aviolation of the securities laws of any such jurisdiction. This announcementdoes not constitute an offer or an invitation to purchase or subscribe for anysecurities or a solicitation of an offer to buy any securities pursuant to thisannouncement or otherwise in any jurisdiction in which such offer orsolicitation is unlawful. 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 Mitchells & Butlers, 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 Mitchells & Butlers, they willbe deemed to be a single person for the purpose of Rule 8.3. Under theprovisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" ofMitchells & Butlers by the Consortium or Mitchells & Butlers, or by any of theirrespective "associates", must be disclosed by no later than 12.00 noon (Londontime) on the London 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 virtue of any option inrespect 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:
Mitchells & Butlers