3rd Apr 2008 11:19
Takeover Panel03 April 2008 2008/14 Friends provident plc ("Friends provident") J.C. FLOWERS & CO. LLC ("J.C. FLOWERS") Following recent representations made by the advisers for Friends Provident, thePanel Executive has been considering the application of Rule 2.4(b) of the Codeto the approach by J.C. Flowers to Friends Provident. Following discussionswith both parties' advisers, the Panel Executive has ruled that, unless thePanel Executive consents otherwise, J.C. Flowers must, by 5.00pm on 30 April2008, either announce a firm intention to make an offer for Friends Providentunder Rule 2.5 of the Code or announce that it does not intend to make an offerfor Friends Provident. In the event that J.C. Flowers announces that it doesnot intend to make an offer for Friends Provident, J.C. Flowers and any person(s) acting in concert with it will, except with the consent of the PanelExecutive, be bound by the restrictions contained in Rule 2.8 of the Code forsix months from the date of such announcement. Each of the parties has accepted this ruling. 03 April 2008 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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