22nd May 2009 13:57
Renewable Energy Generation Limited
22nd May 2009
RENEWABLE ENERGY GENERATION LIMITED ("Renewable Energy Generation" or the "company")
STATEMENT REGARDING share price movement
The Board notes the recent movements in Renewable Energy Generation's share price. On 17th April the Company announced that it was in discussions regarding a possible offer for the Company. The Board confirms that discussions with one party have now been terminated, and that it continues to have discussions with a further party regarding a possible offer for the Company. However, these discussions are at a preliminary stage and there can be no certainty that any offer will be made.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"), the Company confirms that it has 103,251,014 ordinary shares of 10 pence in issue (ISIN GB00B0717F94).
Enquiries:
|
Hogarth (PR adviser to Renewable Energy Generation) |
+44 (0) 207 645 3988 |
|
Julian Walker |
|
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of the Company, all "dealings" in any "relevant securities" of the 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 3.30pm (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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 the Company, 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 the Company by the Company or by any of its 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 price or 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 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.
As required under Section 4 of Appendix 4 of the Code, addresses, electronic addresses and certain other information provided by the Company's shareholders, persons with information rights and other relevant persons for the receipt of communications from the Company may be provided to an offeror during the offer period.
A copy of this announcement is available on the Company's website at http://www.regpower.co.uk/news/.
Related Shares:
WIND.L