10th Nov 2005 12:54
Carillion PLC10 November 2005 10 November 2005 For immediate release Statement by Carillion plc ("Carillion") regarding a possible offer for Mowlemplc ("Mowlem") Further to the announcement by Mowlem on 31 October 2005 that it had received anapproach which may or may not lead to an offer, Carillion confirms that it wasthe party that made the approach. While discussions are progressing, there can be no assurance that an offer willbe forthcoming. A further announcement will be made as appropriate. Lazard is acting as financial adviser to Carillion. Dealing Disclosure Requirements Please note that certain aspects of the rules on disclosure of the City Code onTakeovers and Mergers (the "Code") have changed since 7 November 2005. Thefollowing represents a current summary of the position. Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,"interested" (directly or indirectly) in 1% or more of any class of "relevantsecurities" of Carillion or of Mowlem, all "dealings" in any "relevantsecurities" of that company (including by means of an option in respect of, or aderivative referenced to, any such "relevant securities") must be publiclydisclosed by no later than 3.30 pm (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which the offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the "offer period"otherwise ends. If two or more persons act together pursuant to an agreement orunderstanding, whether formal or informal, to acquire an "interest" in "relevantsecurities" of Carillion or Mowlem, they will be deemed to be a single personfor the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Carillion or of Mowlem by Carillion or Mowlem, or by any of theirrespective "associates", must be disclosed by no later than 12.00 noon (Londontime) on the London business day following the date of the relevant transaction. 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 aperson has long economic exposure, whether conditional or absolute, to changesin the price of securities. In particular, a person will be treated as having an"interest" by virtue of the ownership or control of securities, or by virtue ofany option in respect 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." End This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Carillion Plc