26th Nov 2007 07:01
Biffa Plc26 November 2007 25 November 2007 BIFFA PLC STATEMENT RE SHARE PRICE MOVEMENT The Board of Biffa Plc ("Biffa") notes the announcement made by Montagu PrivateEquity LLP ("Montagu") and Hg Pooled Management Limited ("HgCapital") on Friday,23 November 2007. The Board confirms that it received an indicative preliminaryproposal from a consortium comprising Montagu and HgCapital on 4 September 2007.After due consideration, the Board rejected the proposal shortly thereafter.No further discussions have taken place since early September and no furtherproposal has been received by the Board. In accordance with Rule 2.10 of the Takeover Code, Biffa confirms that at closeof business on 23 November 2007 it had 349,871,336 ordinary shares of 10 penceeach in issue. The International Securities Identification Number for theseshares is GB00B129PL77. Enquiries: TulchanDavid Allchurch Telephone: +44 (0) 20 7353 4200Stephen Malthouse Dealing disclosure requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1% or more ofany class of "relevant securities" of Biffa, all "dealings" in any "relevantsecurities" of Biffa (including by means of an option in respect of, or aderivative referenced to, any such "relevant securities") must be publiclydisclosed by no later than 3.30 pm (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which any offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the "offer period"otherwise ends. If two or more persons act together pursuant to an agreement orunderstanding, whether formal or informal, to acquire an "interest" in "relevantsecurities" of Biffa, they will be deemed to be a single person for the purposeof Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Biffa by any potential offeror or Biffa, or by any of theirrespective "associates", must be disclosed by no later than 12.00 noon (Londontime) on the London 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 thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BIFF.L