29th Mar 2006 07:29
Millfield Group PLC29 March 2006 Millfield Group plc ("Millfield" or the "Company") Statement re. possible offer The board of directors of Millfield announces that it has received a preliminaryapproach from a third party which may or may not lead to an offer being made forthe Company. There can be no certainty that an offer will be made, nor as to the terms onwhich any offer might be made. A further announcement will be made in duecourse. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the"Code"), if any person is, or becomes, "interested" (directly or indirectly) in1% or more of any class of "relevant securities" of Millfield all "dealings" inany "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until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends.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 Millfield, 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 Millfield by Millfield, or by any of its respective "associates"(within the meaning of the City Code), must be disclosed by no later than 12.00noon (London time) on the London business day following the date of the relevanttransaction. 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. Disclosure in accordance with Rule 2.10 of the City Code: In accordance with Rule 2.10 of the City Code, Millfield Group plc confirms thatit has in issue and admitted to trading on AIM, a market operated by the LondonStock Exchange, 118,748,841 ordinary shares of 0.175 pence each under the ISINcode GB0030199953. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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