7th Mar 2007 07:30
Peel Hldgs PLC07 March 2007 07 March 2007 Peel Land and Property Investments Limited ("Peel" or the "Company") Statement re press speculation of its shareholding in UK Coal plc ("UK Coal"). The Board of Peel notes the recent and continued press speculation with regardto its shareholding in UK Coal and confirms that its shareholding is held forinvestment purposes and that it has no intention to make an offer for UK Coal. For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers ("CityCode"), Peel reserves the right to set aside the above statement and to make orparticipate in an offer for UK Coal if any of the following events occurs: i) UK Coal announces that it is in discussions which may ormay not lead to an offer for UK Coal, or formally invites an offer for UK Coal; ii) If any announcement is made by or on behalf of a thirdparty relating to the making of an offer or a possible offer (whether full orpartial) for UK Coal; iii) The agreement or recommendation of the Board of UK Coal forany offer (whether full or partial) is forthcoming; iv) Upon the announcement by or on behalf of UK Coal of a"whitewash" proposal (for the purposes of Note 1 on the dispensation from Rule 9of the City Code) or any other proposal to implement a scheme of arrangement,reverse takeover, demerger or any other business combination with a third party; v) UK Coal undertaking or announcing an intention to undertakeany material recapitalisation (where material is defined as 10% of the marketcapitalisation of UK Coal as at the close of business on the date of thisannouncement) or disposal of a material amount (where "material amount" is asdefined in Note 2 on Rule 21.1 of the City Code). Contact name Neil Lees Company Secretary 0161 629 8200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Harworth Gp