18th Feb 2009 12:56
18 February 2009
Marwyn Materials Limited
STATEMENT REGARDING ENNSTONE PLC
On 20 November 2008, Marwyn Materials Limited ("Marwyn Materials" or "the Company") announced that it had approached the board of Ennstone plc ("Ennstone") in order to explore a possible transaction which may or may not involve an offer for the Ennstone shares. Since the initial approach Marwyn Materials has been unable to agree terms with Ennstone that it considers would be in the best interests of Marwyn Materials shareholders. Therefore, the proposal which Marwyn was discussing with the board of Ennstone has now been withdrawn.
Marwyn Materials considers that the opportunities to secure value-enhancing acquisitions in the building materials sector have increased in recent months. The Company is currently reviewing a number of potential purchases.
Enquiries:
For further information, please contact:
Marwyn Materials Limited
Peter Tom 020 7389 6800
Simon Vivian 020 7389 6800
For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers ("the Code"), Marwyn Materials reserves the right to make or participate in an offer or possible offer for Ennstone within the six months following the date of this announcement in the event that: (i) an agreement or recommendation from the Board of Ennstone is forthcoming; (ii) there is an announcement of an offer or possible offer by a third party for Ennstone; (iii) there is an announcement by or on behalf of Ennstone of a 'whitewash' proposal (as defined in the Code) or of a reverse takeover (as defined in the Code); or (iv) there is a material change of circumstances. Marwyn Materials also reserves the right to acquire any assets from Ennstone.
Related Shares:
Breedon