3rd Feb 2006 11:09
Takeover Panel03 February 2006 2006/2 LOOKERS PLC ("LOOKERS") PENDRAGON PLC ("PENDRAGON") Following recent representations made by the advisers to Lookers, the PanelExecutive has been considering the application of Rule 2.4(b) of the Code to theapproach by Pendragon to Lookers. Following discussions with both parties'advisers, the Panel Executive has ruled that Pendragon must, by 12.00 noon on 10March 2006, either announce a firm intention to make an offer for Lookers underRule 2.5 of the Code or announce that it does not intend to make an offer forLookers. No extension to this deadline will be granted, except with the consentof the Panel Executive. In the event that Pendragon announces that it does notintend to make an offer for Lookers, Pendragon and any person acting in concertwith it will, except with the consent of the Panel Executive, be bound by therestrictions contained in Rule 2.8 of the Code for six months from the date ofsuch announcement. Each of the parties has accepted this ruling. 3 February 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
LOOK.LPDG.L