17th May 2007 07:00
Michelmersh Brick Holdings PLC16 May 2007 For immediate release: 16 May 2007 Michelmersh Brick Holdings plc ("Michelmersh") Statement regarding Baggeridge Brick PLC The Board of Michelmersh has noted the press comments following the statementreleased earlier today of a possible offer by Michelmersh for Baggeridge BrickPLC ("Baggeridge"). The Board also notes certain comments attributable to MrEric Gadsden, Chairman of Michelmersh. The Board wishes to clarify as follows: As stated previously Michelmersh confirms that it is considering its position,including the possibility of making an offer for Baggeridge. Any such offerwould comprise of a full cash offer with a partial share alternative. However,Michelmersh confirms that it is continuing to seek support to finance such acash offer, which would be at a price of not less than 225 pence per Baggeridgeshare. These discussions remain at a preliminary stage and are subject to,amongst other things, agreement of the terms on which such finance would beprovided. This announcement is not an announcement of a firm intention to make an offerand accordingly no certainty can be assumed that an offer will be forthcoming. However if an offer is made it will be on terms no less favourable than as setout in this announcement. Certain statements have also been attributed to Mr Gadsden concerningWienerberger AG's possible interest in acquiring the brick making assets ofHanson plc. The Company wishes to make clear that Mr Gadsden retracts any suchstatement since it cannot be properly verified. Michelmersh will make a further announcement in due course. Enquiries: Charles Stanley Securities 020 7149 6000Russell CookAnthony Noakes Tavistock Communications 020 7920 3150Jeremy CareyRichard Sunderland This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Michelmersh Brick Holdings