Preliminary Approach
December 21 2007 - 1:02AM
UK Regulatory
RNS Number:4547K
EBT Mobile China PLC
21 December 2007
EBT Mobile China plc (the "Company")
Preliminary Approach
EBT Mobile China plc announces that the Company is currently in talks and has
received a preliminary approach which may or may not lead to an offer for the
entire issued share capital of the Company.
Shareholders in the Company should note that the Company has been informed that
it is not subject to the Takeover Code (the "Code"). Accordingly shareholders
should not expect the protections of the Code to apply in the event of a
transaction. However, the Directors have appointed a committee of non executive
directors (the "Committee") to evaluate any potential transaction and the
Committee is taking independent advice. The Committee intends to seek to follow
certain key provisions of the Code, to the extent possible, in particular with
regard to ensuring that any offer made is at a fair and reasonable value for
shareholders.
In addition to evaluating the approach above the Company is also examining other
strategic alternatives.
This announcement has not been made with the agreement or approval of the
potential offeror and there can be no certainty that an offer will be made nor
as to the terms on which any offer might be made.
A further announcement will be made in due course.
EBT Mobile China plc confirms that it has in issue and admitted to trading on
AIM 220,466,331 ordinary shares of 0.1 pence each under International Securities
Identification Number GB0033044313.
Enquiries:
EBT Mobile China plc
Stephen Davidson 07818 012 281
Panmure Gordon (UK) Limited 0207 459 3600
Aubrey Powell
Giles Stewart
Weber Shandwick Financial 020 7067 0700
Terry Garrett
John Moriarty
Stephanie Badjonat
The Directors of EBT Mobile China plc accept responsibility for this announcement.
To the best of the knowledge and belief of the Directors of EBT Mobile China plc
(who have taken all reasonable care to ensure that such is the case), the
information in this announcement is in accordance with the facts and does not
omit anything likely to affect the import of such information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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