17th Sep 2007 16:28
Disclosure in accordance with Rule 2.10 of the City Code
In accordance with Rule 2.10 of The City Code on Takeovers and Mergers, Friends Provident plc ("Friends Provident") confirms that at the close of business on 14 September 2007, it has 2,171,528,063 ordinary shares of 10p each (the 'shares') in issue, of which 21,556,457 are treasury shares and 2,149,971,606 are voting shares.
In addition, the Company has in issue 289,999 5.25 per cent convertible bonds due December 2007 (the 'bonds') with a nominal value of ‚£1,000 each.
The ISIN references for the shares and the bonds are GB0030559776 and XS0159504801 respectively.
Dealing disclosure requirements
Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes, interested" (directly or indirectly) in 1 per cent. or more of any class of "relevant securities" of Friends Provident or Resolution pld ("Resolution") 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 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances (or, if implemented by a scheme of arrangement, such scheme becomes effective), lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Friends Provident or Resolution, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant securities" of Resolution by Friends Provident or of Friends Provident by Resolution, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the City Code, which can also be found on the Takeover Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Takeover Panel.
Enquiries: Gordon Ellis, Company Secretary 01306 653087
FRIENDS PROVIDENT PLCRelated Shares:
Fondul Proprietatea