28th Feb 2007 17:21
Takeover Panel28 February 2007 2007/7 CREST NICHOLSON PLC ("CREST NICHOLSON") CASTLE BIDCO LIMITED ("CASTLE BIDCO") On 12 January, the Panel Executive announced that it had ruled that Castle Bidcomust, by 5.00 pm on 28 February, either announce a firm intention to make anoffer for Crest Nicholson under Rule 2.5 of the Code or announce that it doesnot intend to make an offer for Crest Nicholson. Following representations made by the advisers to Crest Nicholson, and havingconsulted with the advisers to Castle Bidco, the Panel Executive has ruled thatthe deadline by which Castle Bidco must either announce a firm intention to makean offer for Crest Nicholson under Rule 2.5 of the Code or announce that it doesnot intend to make an offer for Crest Nicholson is hereby extended until 5.00 pmon 7 March. No extension to the revised deadline will be granted, except withthe consent of the Panel Executive. In the event that Castle Bidco announces that it does not intend to make anoffer for Crest Nicholson, Castle Bidco and any person acting in concert with itwill, 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. 28 February 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Crest Nicholson