4th Sep 2008 07:00
FOR IMMEDIATE RELEASE
4 September 2008
Providence Equity Partners Ltd., The Carlyle Group, The Blackstone Group and Hellman & Friedman L.L.C.
Statement re: Informa plc
Providence Equity Partners Ltd. ("Providence") and The Carlyle Group ("Carlyle") note the recent press speculation regarding the composition of a consortium (the "Consortium") in which they are currently participating in connection with a possible acquisition of Informa plc ("Informa"), and confirm that investment funds advised by Blackstone Management Partners L.L.C. or their affiliates ("Blackstone") are also participating in the Consortium.
For the avoidance of doubt, Hellman & Friedman L.L.C. is no longer part of the Consortium at the current time and accordingly the Consortium members are currently Providence, Carlyle and Blackstone.
Hellman & Friedman L.L.C. reserves the right to participate in the Consortium or to make an offer for Informa (either alone or acting in concert with another person or persons) in the event (a) of a material change of circumstances (b) that any offer by the Consortium for Informa lapses or is withdrawn (c) that a third party announces an intention to make an offer for Informa or (d) that the board or independent directors of Informa otherwise consents.
There can be no certainty that an offer will be made, nor the terms on which any offer would be made.
For further information:
Hugh Morrison, M:Communications 020 7153 1534
Ben Simons 020 7153 1540
Dealing Disclosure Requirements:
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Informa, all dealings in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3:30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Informa, they will be deemed 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 "relevant securities" of Informa by the potential offeror, Informa or by any of their respective "associates", must be disclosed by no later than 12:00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
Related Shares:
Informa