21st May 2007 07:02
Homeserve Plc21 May 2007 Homeserve plc Response to recent press speculation Homeserve plc ("Homeserve") notes the recent press speculation. Homeserveconfirms that it has approached Domestic & General Group PLC ("D&G") with a viewto entering into discussions about a potential offer by Homeserve for D&G. The Homeserve Board believes that a combination of Homeserve and D&G would helpaccelerate Homeserve's strategy of providing total home emergency cover. It isHomeserve's intention that in the event of a combination it would transferprimary underwriting risk to an insurance partner, in line with Homeserve'scurrent business model. The approach is at a preliminary stage and there is no certainty that an offerfor D&G or any other transaction will result. In accordance with Rule 2.10 of the City Code on Takeovers and Mergers,Homeserve confirms that it has 64,963,158 ordinary shares of 12.5p each in issueand admitted to trading on the London Stock Exchange under the UK ISIN codeGB0034321165. A further announcement will be made when appropriate. Enquiries:Homeserve plcBrian Whitty, Executive Chairman Tel: 01922 427900Richard Harpin, Chief ExecutiveJonathan Simpson-Dent, Chief Financial Officer TulchanAndrew Honnor Tel: 0207 353 4200Stephen Malthouse 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 Homeserve or D&G, all "dealings" in any "relevant securities" of that company (including by means of an option in respectof, or a derivative referenced to, any such "relevant securities") must bepublicly disclosed by no later than 3.30 pm (London time) on the London businessday following the date of the relevant transaction. This requirement willcontinue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Homeserve or D&G, they will be deemed tobe 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 Homeserve or D&G by Homeserve or D&G, 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 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HSV.L