24th Nov 2005 15:22
Persimmon PLC24 November 2005 Not for release, publication or distribution in whole or in part in, into or from Australia, Canada, Japan or the United States 24 November 2005 RECOMMENDED CASH OFFER BY PERSIMMON PLC ("PERSIMMON") FOR WESTBURY PLC ("WESTBURY") MARKET PURCHASES AND DISCLOSURE OF HOLDINGS Following the announcement earlier today of Persimmon's recommended cash offer(the "Offer") for the entire issued and to be issued share capital of Westbury,Citigroup Global Markets Limited ("Citigroup") on behalf of Persimmon has todayacquired in the market a total of 30,000,000 Westbury shares, representingapproximately 26.1 per cent. of Westbury's issued share capital. Theconsideration was 560 pence plus the previously declared interim dividend of6.1525 pence, representing, in aggregate, a price of 566.1525 pence per Westburyshare. Accordingly Persimmon, and parties deemed to be acting in concert withPersimmon, between them own or control a total of 30,000,001 Westbury shares,representing approximately 26.1 per cent. of Westbury's issued share capital. The disclosure required under Rule 8.1 of the City Code on Takeovers and Mergerswill be made by 12 noon tomorrow. ENQUIRIES: Persimmon Tel: +44 (0) 1904 642 199Mike Killoran (Group Finance Director)Neil Francis (Group Company Secretary) Citigroup Tel: +44 (0) 20 7986 4000(Financial Adviser and Corporate Broker to Persimmon)Philip Robert-TissotDimitrios GeorgiouNigel Mills (Corporate Broking)Andrew Forrester (Corporate Broking) Finsbury Tel: +44 (0) 20 7251 3801(PR Adviser to Persimmon)Edward OrlebarFaeth Birch Citigroup Global Markets Limited, which is authorised and regulated in theUnited Kingdom by The Financial Services Authority, is acting for Persimmon andno one else in connection with the Offer, and will not be responsible to anyoneother than Persimmon for providing the protections afforded to clients ofCitigroup Global Markets Limited or for providing advice in relation to theOffer. The release, publication or distribution of this announcement in certainjurisdictions may be restricted by law and therefore the persons in suchjurisdictions into which this announcement is released, published or distributedshould inform themselves of, and observe, any applicable restrictions. The Offer will not be made, directly or indirectly, in or into, or by the use ofmails of, or by any means or instrumentality (including, without limitation,facsimile transmission, internet, telex or telephone) of interstate or foreigncommerce of, or any facility of a national state or other securities exchange ofthe United States, Canada, Australia or Japan and will not be capable ofacceptance by any such use, means, instrumentality or facility from or withinthe United States, Canada, Australia or Japan. Accordingly, copies of thisannouncement and all other documents relating to the Offer are not being, andmust not be, mailed or otherwise forwarded, distributed or sent in, into or fromthe United States, Canada, Australia or Japan. Persons receiving such documents(including, without limitation, nominees, trustees and custodians) shouldobserve these restrictions and must not mail or otherwise forward, distribute orsend such documents in, into or from the United States, Canada, Australia orJapan. Doing so may invalidate any related purported acceptance of the Offer. This announcement does not constitute an offer to sell or the solicitation of anoffer to purchase or subscribe for any securities or an invitation to purchase,pursuant to the Offer or otherwise. Any response in relation to the Offer shouldonly be made on the basis of the information contained in the Offer Document. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Persimmon