6th May 2008 07:03
Arden Partners plc06 May 2008 Arden Partners plc6 May 2008 Arden Partners plc ("Arden" or the "Company") Response to press speculation The Board of Arden notes the recent press speculation in respect of a potentialoffer for the Company and confirms that it is in preliminary talks with CenkosSecurities plc ("Cenkos") with a view to a possible combination of the twobusinesses, which may or may not lead to an offer being made for the Company.Whilst there can be no certainty that an offer will be made for the Company orthe terms on which such an offer may be made, the Board of Arden understandsthat any such offer for the Company would be likely to be in shares, based uponor around the respective current share prices of the companies and would beunlikely to be at a material premium to the current share price of the Company. In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, theCompany confirms that, as at the close of business on 2 May 2008, its issuedshare capital consisted of 24,701,872 ordinary shares with a nominal value of 10pence each ("Ordinary Shares"), with each share carrying equal voting rights.The Company holds no shares which are held in treasury. The InternationalSecurities Identification Number for the Ordinary Shares is GB00B15CTY44. A further announcement will be made in due course as appropriate. For further information please contact: Arden Partners plc 0121 423 8900Jonathan Keeling Altium Capital Limited (Rule 3 adviser and NOMAD to Arden) 0207 484 4040Phil Adams Buchanan Communications Limited (PR adviser to Arden) 0207 466 5000Mark Edwards 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 per cent. or more of any class of "relevant securities" of Arden or of Cenkos,all "dealings" in any "relevant securities" of that company (including by meansof an option in respect of, or a derivative referenced to, any such "relevantsecurities") must be publicly disclosed by no later than 3:30pm (London time) onthe London business day following the date of the relevant transaction. Thisrequirement will continue until the date on which an offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends. If two or more persons act togetherpursuant to an agreement or understanding, whether formal or informal, toacquire an "interest" in "relevant securities" of Arden or Cenkos, they will bedeemed 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 "relevantsecurities" of Arden or Cenkos by Arden or Cenkos, or by any of their respective"associates", must be disclosed by no later than 12:00 noon (London time) on theLondon 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 theTakeover Panel's website. If you are in any doubt as to whether or not you arerequired to disclose a "dealing" under Rule 8, you should consult the TakeoverPanel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ARDN.LCNKS.L