TIDMCPP
RNS Number : 0031B
CPPGroup Plc
27 March 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT
JURISDICTION
This announcement is noT an announcement of a firm intention to
make an offer under rule 2.7 of the City Code on Takeovers and
Mergers (the "Code") and there can be no certainty that an offer
will be made, nor as to the terms on which any offer will be
made
27 March 2013
Possible offer for CPPGroup Plc
The Board of CPPGroup Plc ("CPP" or the "Group") notes the
recent movement in the Group's share price. The Board of CPP
confirms that it has received an initial, preliminary approach from
CPP's majority shareholder, Mr Hamish Macgregor Ogston CBE, at an
indicative price of 1 pence per ordinary share, which may or may
not lead to an offer being made for the Group.
It should be noted that the approach is at an early stage and
there can be no certainty that an offer will be made or as to the
terms of any such offer, should one be forthcoming.
The Board will make further announcements as appropriate in due
course.
Mr Hamish Macgregor Ogston CBE must, in accordance with Rule
2.6(a) of the Code, clarify his intentions by no later than 5.00pm
on 24 April 2013 (or such later date as the Takeover Panel may
consent to in relation to Mr Hamish Macgregor Ogston CBE, at the
request of the Board of CPP), by either announcing a firm intention
to make an offer or that he does not intend to make an offer.
This announcement has been made without obtaining the prior
approval of Mr Hamish Macgregor Ogston CBE.
Relevant securities in issue
In accordance with Rule 2.10 of the City Code on Takeovers and
Mergers, the Company announces that it has 171,486,890 ordinary
shares of 10 pence each in issue and admitted to trading on the
main market of the London Stock Exchange. The International
Securities Identification number for the ordinary shares is
GB00B5W55H93.
Enquiries:
CPPGroup Plc
Shaun Parker, Chief Financial Officer
Tel: +44 (0) 1904 544 372
Helen Spivey, Head of Corporate and Investor Communications
Tel: +44 (0) 1904 544387
Tulchan Communications
John Sunnucks
Martin Robinson
Tel: +44 (0) 20 7353 4200
Further information
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities, or the solicitation of any
vote or approval in any jurisdiction. Any offer (if made) will be
made solely by certain offer documentation which will contain the
full terms and conditions of any offer (if made). This announcement
has been prepared in accordance with English law and the UK City
Code on Takeovers and Mergers (the "Code") and information
disclosed may not be the same as that which would have been
prepared in accordance with the laws of jurisdictions outside of
the United Kingdom.
The release, distribution or publication of this announcement in
jurisdictions other than the UK may be restricted by law and
therefore any persons who are subject to the laws of any
jurisdiction other than the UK should inform themselves about and
observe any applicable requirements.
Dealing disclosure requirements
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of an offeree
company or of any paper offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer
is, or is likely to be, solely in cash) must make an Opening
Position Disclosure following the commencement of the offer period
and, if later, following the announcement in which any paper
offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in,
and rights to subscribe for, any relevant securities of each of (i)
the offeree company and (ii) any paper offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies must be
made by no later than 3.30 pm (London time) on the 10th business
day following the commencement of the offer period and, if
appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any paper offeror
is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a paper offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any paper offeror must make a Dealing
Disclosure if the person deals in any relevant securities of the
offeree company or of any paper offeror. A Dealing Disclosure must
contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
paper offeror, save to the extent that these details have
previously been disclosed under Rule 8. A Dealing Disclosure by a
person to whom Rule 8.3(b) applies must be made by no later than
3.30 pm (London time) on the business day following the date of the
relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a paper
offeror, they will be deemed to be a single person for the purpose
of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
Publication of this announcement
A copy of this announcement will be made available subject to
certain restrictions relating to persons resident in restricted
jurisdictions on CPP's website.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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