13th Mar 2009 11:43
Candover Investments plc (the "Company")
13 March 2009
Further to recent press speculation, the board of directors of the Company confirms it has received indicative expressions of interest covering a range of options for the business including potential offers for the Company.
The Company expects to enter into preliminary discussions with selected parties but emphasises that there can be no certainty as to the outcome of such discussions.
Further announcements will be made in due course as appropriate.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the Company confirms that it has 21,778,580 ordinary shares of 25 pence each in issue as at the close of business on 12 March 2009. The ISIN reference for these securities is GB0001713154.
For further information, please contact:
Lexicon Partners 020 7653 6000Matthew Lindsey-ClarkMerrill Lynch 020 7628 1000David MelvinHenrietta Baldock
Merrill Lynch International is acting as financial adviser and corporate broker to the Company and no one else in connection with the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Merrill Lynch nor for giving advice in relation to the matters described in this announcement.
Lexicon Partners is acting as financial adviser to the Company and no one else in connection with the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Lexicon Partners nor for giving advice in relation to the matters described in this announcement.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of the offeree company, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") 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. This requirement will continue until the date on which an offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of the offeree company, they will be deemed 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 "relevant securities" of the offeree company by an offeror or the offeree company, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk .
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in 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 of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
vendorRelated Shares:
CDI.L