8th May 2006 07:02
R20 Limited08 May 2006 For immediate release 5 May 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN R20 Limited ("R20") update on proposal submitted to Mitchells & Butlers plc ("M&B") On 3 May 2006, R20, on behalf of a consortium of investors, submitted a proposalto the board of M&B to acquire the whole of the issued share capital of M&B at aprice of 550p per share in cash. Further to the "put-up or shut-up" deadline of8 May 2006 imposed by the Takeover Panel, the announcement made by M&B on4 May 2006 and the decision of the board of M&B not to support the consortium'sproposal or to engage in discussions with it, the consortium has decided not tomake an offer to acquire M&B. For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers, onbehalf of the consortium, R20 reserves the right to make an offer within thenext six months if the board of M&B decides to recommend such an offer, or if athird party announces an intention to make an offer for M&B, or if M&B announcesa "whitewash" proposal or a reverse takeover. Enquiries: Brunswick +44 20 7404 5959 Fiona AntcliffeSimon SporborgJames Olley Notes: The distribution of this announcement in jurisdictions other than the UnitedKingdom may be restricted by law and therefore persons into whose possessionthis announcement comes should inform themselves about, and observe suchrestrictions. Any failure to comply with the restrictions may constitute aviolation of the securities laws of any such jurisdiction. Deutsche Bank AG, London Branch ("Deutsche Bank") is acting exclusively for theconsortium and no-one else in connection with the matters described in thisannouncement and will not be responsible to anyone other than the consortium forproviding the protections afforded to clients of Deutsche Bank nor for providingadvice in relation to the matters described in this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Mitchells & Butlers