5th Dec 2006 07:01
Takeover Panel05 December 2006 2006/22 CREST NICHOLSON PLC ("CREST NICHOLSON") CASTLE BIDCO LIMITED ("CASTLE BIDCO") Following recent representations made by the advisers to Crest Nicholson, thePanel Executive has been considering the application of Rule 2.4(b) of the Codeto the approach by Castle Bidco to Crest Nicholson. Following discussions withboth parties' advisers, the Panel Executive has ruled that Castle Bidco must, by5pm on 12 January 2007, either announce a firm intention to make an offer forCrest Nicholson under Rule 2.5 of the Code or announce that it does not intendto make an offer for Crest Nicholson. No extension to this deadline will begranted, except with the consent of the Panel Executive. In the event thatCastle Bidco announces that it does not intend to make an offer for CrestNicholson, Castle Bidco and any person acting in concert with it will, exceptwith the consent of the Panel Executive, be bound by the restrictions containedin Rule 2.8 of the Code for six months from the date of such announcement. Each of the parties has accepted this ruling. 5 December 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Crest Nicholson