4th Feb 2008 07:01
Mitchells & Butlers PLC04 February 2008 4 February 2008 Mitchells & Butlers plc ("Mitchells & Butlers" or the "Company") Re Press speculation -------- The Board of Mitchells & Butlers notes recent press speculation and confirmsthat it has recently received a proposal from Punch Taverns plc together withcontinued expressions of interest in the Company from third parties. The Board has commenced its strategic review process and will give carefulconsideration to all proposals as part of this process. At this preliminary stage, there can be no assurance that any offer for theCompany or transaction will be forthcoming. The Board will keep shareholdersinformed as appropriate. For further information, please contact: Investor Relations:Erik Castenskiold 0121 498 6513 Media:Kathryn Holland 0121 498 4526James Murgatroyd (Finsbury Group) 0207 251 3801 Citigroup Global Markets Limited ("Citi") which is authorised and regulated inthe United Kingdom by the Financial Services Authority, is acting for Mitchells& Butlers and no one else in connection with this announcement and will not beresponsible to anyone other than Mitchells & Butlers for providing theprotections afforded to clients of Citi or for providing advice in relation tothe contents of this announcement, or for any other transaction, arrangement ormatters referred to in this announcement. 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 Mitchells & Butlers, all "dealings" in any"relevant securities" of that company (including by means of an option inrespect of, or a derivative referenced to, any such "relevant securities") mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends.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 Mitchells & Butlers, they will be deemedto 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 Mitchells & Butlers by the offeror or Mitchells & Butlers, or byany of their respective "associates", must be disclosed by no later than 12.00noon (London time) on the London business day following the date of the relevanttransaction. 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:
Mitchells & ButlersPunch Taverns PLC