28th Sep 2006 08:35
Grainger Trust PLC28 September 2006 28 September 2006 Grainger Trust plc FOR IMMEDIATE RELEASE Statement re press speculation Grainger Trust plc ("Grainger" or the "Company") has noted recent pressspeculation regarding the possibility of an offer being made for the Company. The board of Grainger can confirm that it has received a preliminary approachfrom a party expressing an interest in formulating an offer for the Company. Noterms have been indicated nor details provided. There can be no certainty that any formal approach to the Company and,consequently, any offer will be forthcoming. Enquiries: GraingerRupert Dickinson 020 7795 4700Andrew Cunningham 0191 261 1819 Financial Dynamics 020 7831 3113Stephanie Highett / Dido Laurimore In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Graingerconfirms that it has 129,772,740 ordinary shares of 5 pence each in issueadmitted to trading on the London Stock Exchange under ISIN code GB00B04V1276. Dealing Disclosure Requirements 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 Grainger, all 'dealings' inany '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until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe 'offer period' otherwise ends.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 Grainger, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevantsecurities' of Grainger by Grainger or by the potential offeror, or by any oftheir respective 'associates', must be disclosed by no later than 12.00 noon(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 invirtue 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 LondonStock Exchange This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Grainger plc