22nd Jan 2008 15:43
Cenkos Securities PLC22 January 2008 Cenkos Securities plc ("Cenkos") WITHDRAWAL OF POSSIBLE OFFER FOR CLOSE BROTHERS GROUP PLC ("Close") Further to the announcement by Cenkos on 14 January 2008 regarding a possibleoffer for Close, Cenkos announces that despite submitting a proposal to Closesuperior to that announced on 8 November 2007, it has been unable to agree withClose a satisfactory basis for further discussions. Accordingly, Cenkos announces that it no longer intends to make an offer forClose. -ends- Enquiries: HSBC (adviser to Cenkos)Anthony Bernbaum / Julian Gray +44 20 7991 8888 Bell Pottinger (PR adviser to Cenkos)David Rydell / Rosanne Perry +44 20 7861 3232 HSBC Bank plc, which is regulated in the United Kingdom by the FinancialServices Authority, is acting for Cenkos and no one else in relation to mattersdescribed in this announcement and will not be responsible to anyone other thanCenkos for providing the protections afforded to customers of HSBC Bank plc orfor providing advice on matters described in this announcement. 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 Close Brothers, all"dealings" in any "relevant securities" of that company (including by means ofan option in respect of, or a derivative referenced to, any such "relevantsecurities") must be publicly disclosed by no later than 3.30 pm (London time)on the London business day following the date of the relevant transaction. Thisrequirement will continue until the date on which the offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends. If two or more persons act togetherpursuant to an agreement or understanding, whether formal or informal, toacquire an "interest" in "relevant securities" of Close Brothers, they will bedeemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Close Brothers by Close Brothers, or by any of its "associates",must be disclosed by no later than 12.00 noon (London time) on the Londonbusiness 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 Code, which can also be found on theTakeover Panel's website. If you are in any doubt as to whether or not you arerequired to disclose a "dealing" under Rule 8, you should consult the TakeoverPanel. The distribution of this announcement in jurisdictions other than the UnitedKingdom may be restricted by law and therefore persons into whose possessionthis announcement comes should inform themselves about, and observe, suchrestrictions. Any failure to comply with the restrictions may constitute aviolation of the securities laws of any such jurisdiction. This announcementdoes not constitute an offer or an invitation to purchase or subscribe for anysecurities or a solicitation of an offer to buy any securities pursuant to thisannouncement or otherwise in any jurisdiction. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CNKS.LClose Bros