19th Dec 2008 17:13
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO AUSTRALIA, CANADA, UNITED STATES OF AMERICA OR JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Intel Corporation - No intention to make an offer for Imagination Technologies Group plc
Intel Corporation, through its wholly owned subsidiary Intel Capital Corporation, has acquired a further 934,422 shares in Imagination Technologies Group plc through its adviser UBS resulting in an aggregate holding of 6,934,422 shares in Imagination Technologies Group plc (including its existing holding of 6,000,000 shares held by its wholly owned subsidiary Intel Capital (Cayman) Corporation) representing 3.04% of Imagination Technologies Group plc's total issued voting rights.
Whilst Intel Corporation will continue to consider its options in relation to its holding in Imagination Technologies Group plc, for the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "City Code"), it confirms that it has no current intention to make an offer for Imagination Technologies Group plc.
Pursuant to Rule 2.8 of the City Code, Intel Corporation reserves the right to announce an offer or a possible offer to acquire the shares in Imagination Technologies Group plc which it does not already own and/or to take any other action which would otherwise be restricted under Rule 2.8 of the City Code within six months from the date of this announcement if there is a material change in circumstances or in the event that:
(i) the agreement or recommendation of the board of Imagination Technologies Group plc is given to the making of such an announcement or the taking of any such other action; or
(ii) there is an announcement of an offer or possible offer for Imagination Technologies Group plc by a third party; or
(iii) Imagination Technologies Group plc announces a "whitewash" proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the City Code) or a reverse takeover (as described in Note 2 on Rule 3.2 of the City Code).
For further enquires contact:
Ashish Patel, Managing Director, Intel Capital EMEA
Tel: 0207 292 8790
Related Shares:
Imagination Technologies Group