25th Apr 2006 16:06
Lookers PLC25 April 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OFAMERICA, CANADA, AUSTRALIA OR JAPAN 25 April 2006 Lookers plc ("Lookers" or the "Company") Substantial shareholder The Board of Lookers has been notified today that Mr Tony Bramall and his familyinterests have acquired the entire shareholding in the Company previously heldby Hamilton Finance Limited, a subsidiary of GE Corporation. The total numberof shares acquired is 8,767,142 representing 24.4% of the existing issued sharecapital of the Company. The Board of Lookers welcomes Mr Bramall as asubstantial shareholder in the Company and intends to invite him to join theBoard after the AGM to be held on 11 May 2006. Mr Bramall has authorised the release of the following statement: "I regard this as a very good investment for the family in a well-run groupwhere there is substantial scope for growth and I look forward to working withmy new Board colleagues to achieve this objective. Obviously I will not be accepting the existing Pendragon offer in relation tothe above holding." Enquiries: Ken SurgenorDavid DysonLookers plc 0161 291 0043 Richard BaileyAndrew ThomasN M Rothschild & Sons Limited 0161 827 3800 Andrew HayesNick LyonJames HillHudson Sandler 020 7796 4133 Christopher WilkinsonNumis Securities 020 7776 1530 The directors of Lookers plc accept responsibility for the information containedin this announcement and, to the best of their knowledge and belief (havingtaken all reasonable care to ensure that such is the case), such information isin accordance with the facts and does not omit anything likely to affect theimport of such information. 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 Lookers or Pendragon, 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 3:30pm (London time) onthe 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until the date on which the offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends.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 Lookers or Pendragon, theywill be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Lookers or Pendragon by Lookers or Pendragon, 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 the virtue of any optionin 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. N M Rothschild & Sons Limited ("Rothschild"), which is authorised and regulatedby the Financial Services Authority in the United Kingdom, is acting for Lookersin connection with the offer and no one else and will not be responsible toanyone other than Lookers for providing the protections offered to clients of NM Rothschild & Sons Limited nor for providing advice in relation to the offer. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
LOOK.L