6th Feb 2008 16:46
Meridian Petroleum PLC06 February 2008 Meridian Petroleum Plc ("Meridian" or the "Company") Statement re share price movement The Board of Meridian notes today's rise in the Company's share price and thespeculation on internet bulletin boards concerning a possible offer for theCompany. The Company confirms that it has received early stage approaches from more thanone party covering a range of strategic options, which may or may not lead to anoffer being made for the entire issued share capital of the Company The Board considers each of these approaches to be at a very early stage andwill continue to explore all these options for delivering value to shareholders. A further announcement on any progress will be made when appropriate. Consequently the Company is considered to be in an 'offer period' as defined inthe City Code on Takeovers and Mergers (the "Code"), and the dealing disclosurerequirements listed below will apply. In accordance with Rule 2.10 of the Code, the Company confirms that it has96,560,963 ordinary shares of 5 pence each in issue. The ISIN reference forthese securities is GB00B01D7F15. Enquiries: Meridian Petroleum PlcStephen Gutteridge, Chairman +44 (0)20 7811 0140 Ambrian Partners LimitedTim Goodman +44 (0)20 7776 6400 Parkgreen CommunicationsSimon Robinson +44 (0)20 7851 7480Erica Nelson Ambrian Partners Limited is acting for Meridian in connection with the mattersreferred to above and no one else and will not be responsible to anyone otherthan Meridian for providing the protections offered to clients of AmbrianPartners Limited nor for providing advice in relation to the matters referred toabove. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in1% or more of any class of 'relevant securities' of the Company, all 'dealings'in any 'relevant securities' of that company (including by means of an option inrespect of, or a derivative referenced to, any such 'relevant securities') mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe 'offer period' otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an'interest' in 'relevant securities' of the Company, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevantsecurities' of the offeree by the offeror, or by any of their respective'associates', must be disclosed by no later than 12.00 noon (London time) on theLondon 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. - ENDS - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PPC.L