26th Sep 2007 12:54
One Fifty One plc26 September 2007 Statement on behalf of Moonduster Limited ("Moonduster") in relation to Irish Continental Group plc ("ICG") Moonduster notes the announcement issued by the Independent Directors of ICGthis morning. On 1 August 2007 Moonduster announced that it had confirmed to the IndependentDirectors of ICG that it would be willing to participate in a competitive bidprocess to acquire the entire issued and to be issued share capital of ICGsubject to the Independent Directors procuring the agreed participation of Aellaplc ("Aella") in such a process. Representatives of Aella have confirmed to Moonduster that Aella would not beprepared to accept an offer from Moonduster at any price. Based on these confirmations Moonduster believes that there is no prospect atthis time of any Moonduster scheme being successful and therefore Moondusterbelieves there is little merit in the Independent Directors of ICG bringingforward a Moonduster scheme while this situation persists. Moonduster remains committed to progressing it's objective to acquire ICG andwould be willing to bring forward a scheme proposal to ICG Shareholders incircumstances where there is a reasonable prospect of such a proposal beingsuccessful. Ends Enquiries: Joint Financial Advisers to MoondusterDavy Corporate Finance Limited Tel: +353 (0) 1 679 6363Hugh McCutcheonDes Carville IBI Corporate Finance Limited Tel: +353 (0) 1 637 7800Tom GodfreyJohn Tuite Joint PR Advisers to MoondusterMurray Consultants Tel: +353 (0) 1 498 0300Jim MiltonEd Micheau Fleishman-Hillard Tel: +353 (0) 1 618 8433James Morrissey The directors of Moonduster accept responsibility for the information containedin this announcement. To the best of the knowledge and belief of the directorsof Moonduster (who have taken all reasonable care to ensure that such is thecase), the information contained in this announcement is in accordance with thefacts and does not omit anything likely to affect the import of suchinformation. Davy Corporate Finance Limited which is regulated by the Financial Regulator, isacting exclusively for Moonduster and no one else in connection with theproposed acquisition by Moonduster of the entire issued and to be issued sharecapital of ICG (the "Acquisition") and will not be responsible to anyone otherthan Moonduster for providing the protections afforded to clients of DavyCorporate Finance or for providing advice in relation to the Acquisition, thecontents of this announcement or any transaction or arrangement referred toherein. IBI Corporate Finance Limited, a subsidiary of The Governor and Company of theBank of Ireland (which is regulated by the Financial Regulator) is actingexclusively for Moonduster and no one else in connection with the Acquisitionand will not be responsible to anyone other than Moonduster for providing theprotections afforded to clients of IBI Corporate Finance or for providing advicein relation to the Acquisition, the contents of this announcement or anytransaction or arrangement referred to herein. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Irish Cont.