9th Oct 2006 14:37
Mama Group plc09 October 2006 MAMA Group plc Statement regarding Possible Offer by MAMA Group plc ("MAMA Group") For The Sanctuary Group Plc ("Sanctuary") Following a meeting with the Sanctuary Board on the 27th July, and theirsubsequent rejection after a cursory examination of MAMA Group's proposals onthe 28th July, MAMA has been seeking to formulate a proposal which would be inthe best interests of both MAMA Group's and Sanctuary's shareholders. However, Sanctuary has made it clear, through their advisers, that they are notprepared to engage in any meaningful dialogue with regard to MAMA's proposals. MAMA Group, having further considered its position regarding Sanctuary, nowbelieves that there is little merit in attempting to continue to seek anacquisition of Sanctuary and therefore has today withdrawn the proposals madeand is no longer considering making an offer for Sanctuary. For the purposes ofRule 2.8 of the City Code on takeovers and Mergers, MAMA Group reserves theright to make or participate in an offer within the next six months if there isa material change of circumstances or if any of the following occurs: i) the agreement or recommendation of the Board of Sanctuary to an offer from MAMA Group or from a person with whom MAMA Group is acting in concert, or to a joint offer from MAMA Group and a concert party, or ii) if a third party announces an offer for Sanctuary; or iii) the announcement by Sanctuary of a whitewash proposal or of a reverse takeover. For further information contact: Adam Driscoll / Dean James , Co-Chief Executives, MAMA Group Plc 020 7691 4555 David Bick, Holborn PR 020 7929 5599 Mark Percy/Nicola Marrin, Seymour Pierce Limited 020 7107 8000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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