16th Apr 2007 18:24
Michelmersh Brick Holdings PLC16 April 2007 Michelmersh Brick Holdings plc ("Michelmersh", the "Company", or the "Group") Statement regarding Baggeridge Brick Plc Michelmersh Brick Holdings Plc announces that it has purchased 7,200,000 sharesin Baggeridge Brick Plc ("Baggeridge") at a price of 211.5 pence per share,representing 17.43 per cent. of the issued share capital of Baggeridge. The Company is currently considering its position, including the possibility ofmaking an offer for Baggeridge. No decision has been made regarding the relativemerits of an offer and as a consequence there can be no assurance that any offerfor Baggeridge will be forthcoming. A further announcement may be made, if andwhen appropriate. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if anyperson is, or becomes, 'interested' (directly or indirectly) in 1% or more ofany class of 'relevant securities' of Baggeridge, all 'dealings' in any'relevant securities' of that company (including by means of an option inrespect of, or a derivative referenced to, any such 'relevant securities') mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe 'offer period' otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an'interest' in 'relevant securities' of Baggeridge, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevantsecurities' of Baggeridge by Michelmersh or by any of its respective'associates', must be disclosed by no later than 12.00 noon (London time) on theLondon 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 virtue of any option inrespect 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. In accordance with Rule 2.10 of the Code, Michelmersh Brick Holdings plcconfirms that, as at the close of business on 16 April 2007, it had in issue38,017,856 Ordinary Shares of 20 pence each. The ISIN reference for the Ordinary Shares is GB00B013H060. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Michelmersh Brick Holdings