10th Jan 2006 09:33
Balfour Beatty PLC10 January 2006 10 January 2006 Balfour Beatty plc ("Balfour Beatty") - Rule 2.10 Disclosure ============================================================ Further to the announcements on 12 December 2005 and 9 January 2006, and inaccordance with Rule 2.10 of the City Code on Takeovers and Mergers, BalfourBeatty confirms that it has 427,160,822 ordinary shares of 50 pence each inissue and 129,109,615 cumulative convertible redeemable preference shares of 1pence each in issue. The International Securities Identification Number (ISIN) for the Company'sordinary shares is GB000961622 and for the Company's cumulative convertiblepreference shares is GB00097820. Dealing Disclosure Requirements------------------------------- Please note that certain aspects of the rules on disclosure of the City Code onTakeovers and Mergers (the "Code") have changed since 7 November 2005. Thefollowing represents a current summary of the position. Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,"interested" (directly or indirectly) in 1% or more of any class of "relevantsecurities" of Balfour Beatty or of Mowlem, all "dealings" in any "relevantsecurities" of that company (including by means of an option in respect of, or aderivative referenced to, any such "relevant securities") must be publiclydisclosed by no later than 3.30 pm (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which the offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the "offer period"otherwise ends.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" ofBalfour Beatty or Mowlem, they will be deemed to be a single person for thepurpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Balfour Beatty or of Mowlem by Balfour Beatty or Mowlem, or byany of their respective "associates", must be disclosed by no later than 12.00noon (London time) on the London business day following the date of the relevanttransaction. 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, whena person has long economic exposure, whether conditional or absolute, to changesin 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 ofany option in 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. Under Rule 8.1 of the Code, both the ordinary shares and the cumulativeconvertible redeemable preference shares of Balfour Beatty plc are "relevantsecurities". This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Balfour Beatty