16th Jul 2007 18:09
Quintain Estates & Development PLC16 July 2007 Quintain Estates & Development PLC ("Quintain") The board of Quintain notes the announcement made by Quill Securities Limited("Quill Securities") earlier today that Quill Securities is evaluating itsoptions in relation to Quintain; these options may include making a proposal tothe board of Quintain concerning an offer for the company; and there can be nocertainty that any such proposal will be made. The board of Quintain will make a further announcement if and when appropriate. For the purposes of Rule 2.10 of the City Code on Takeovers and Mergers,Quintain's current issued share capital consists of 129,558,710 ordinary sharesof 25p each (not including 267,640 ordinary shares held in treasury). TheInternational Securities Identification Number for Quintain ordinary shares isGB0007184442. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1% or more ofany class of "relevant securities" of Quintain, 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 3.30pm (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the date on which the offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the "offer period"otherwise ends.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 Quintain, they will be deemed to be a single person for thepurpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Quintain by Quill Securities or Quintain, 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 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 Takeover Code, which can also befound on the Panel's website. If you are in any doubt as to whether or not youare required to disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Quadrise