15th Jun 2007 15:36
Carpetright PLC15 June 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO ORFROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THERELEVANT LAWS OF SUCH JURISDICTION Statement regarding recent speculation Carpetright notes the recent speculation regarding a possible offer for theCompany by Lord Harris, Chairman and Chief Executive of Carpetright. The Boardof Carpetright confirms that it has recently received a request from Lord Harristo explore the possibility of his making such an offer for the Company. An Independent Committee of the Board was formed to consider this request, andhas authorised Lord Harris to explore this possibility. The Independent Committee confirms that no offer has been received at this stageand there can be no certainty that any offer will be forthcoming. Deutsche Bank has been appointed to advise the Independent Committee. Enquiries: Citigate Dewe Rogerson Tel: 020 7638 9571Kevin Smith Deutsche Bank is authorised under German Banking Law (Competent authority: BaFin- Federal Financial Supervising Authority) and with respect to UK commodityderivatives business by the Financial Services Authority; regulated by theFinancial Services Authority for the conduct of UK business. Deutsche Bank isacting for Carpetright and no one else in connection with the offer and will notbe responsible to anyone other than Carpetright for providing the protectionsafforded to clients of Deutsche Bank nor for providing advice in connection withthe offer. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1 per cent. ormore of any class of "relevant securities" of Carpetright, all "dealings" in any"relevant securities" of the Company (including by means of an option in respectof, or a derivative referenced to, any such "relevant securities") must bepublicly disclosed by no later than 3.30 pm (London time) on the London businessday following the date of the relevant transaction. This requirement willcontinue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an"interest" in "relevant securities" of Carpetright, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Carpetright by the offeror or Carpetright, 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:
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