Straight PLC REPLACEMENT: statement re: rise in share price (2363A)
February 17 2014 - 7:10AM
UK Regulatory
TIDMSTT
RNS Number : 2363A
Straight PLC
17 February 2014
Statement re: rise in Straight's share price - Correction
The following amendment has been made to the 'Statement re: rise
in Straight's share price' released on 14 February 2014 at 15:49
hrs under RNS No 1550A.
In the announcement released on 14 February 2014 incorrectly
stated the relevant deadline, which should have been 14 March
2014.
All other details remain unchanged.
The full amended text is shown below.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
This is an announcement falling under Rule 2.4 of the Takeover
Code and does not constitute an announcement of a firm intention to
make an offer under Rule 2.7 of the Takeover Code. There can be no
certainty that an offer will be made nor as to the terms on which
any offer might be made.
14 February 2014
Straight plc
("Straight" or the "Company")
Statement re: rise in Straight's share price
Straight plc notes the recent rise in the Company's share price
and announces that it has received a preliminary approach from
One51 plc regarding a possible acquisition of the entire issued and
to be issued share capital of Straight. There is no certainty that
this approach will lead to an offer being made for the Company.
Rule 2.6(a) of the City Code on Takeovers and Mergers (the
"Code") requires One51plc by not later than 5.00 p.m. on 14 March
2014 (the "relevant deadline"), either to announce a firm intention
to make an offer for Straight in accordance with Rule 2.7 of the
Code or to announce that it does not intend to make an offer, in
which case the announcement will be treated as a statement to which
Rule 2.8 of the Code applies. The relevant deadline will only be
extended with the consent of The Takeover Panel in accordance with
Rule 2.6(c) of the Code.
Pursuant to Rule 2.10 of the Code the Company confirms that
there are 11,899,294 ordinary shares of 1p in issue with
International Securities Identification Number GB0033695486.
400,000 issued shares are currently held in trust further to the
Directors' Conditional Share Award on 6 September 2010.
A further announcement will be made as appropriate.
A summary is set out below of the dealing disclosure
requirements under the Takeover Code, which require action by
holders of 1 per cent. or more of the Company's issued share
capital.
In accordance with Rule 30.4 of the Code, a copy of this
announcement will be available on the Company's website
(http://www.straight.co.uk/investors/stock-exchange-announcements/).
Enquiries:
Straight Plc
James Newman, Chairman
0113 245 2244
Cenkos Securities plc
Ivonne CantĂș/Michael Johnson
020 7397 8900
Redleaf Polhill
Rebecca Sanders-Hewett/Jenny Bahr
020 7382 4730
Dealing Disclosure Requirements
Under Rule 8.3(a) of the Takeover Code, any person who is
interested in 1 per cent or more of any class of relevant
securities of an offeree company or of any securities exchange
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 securities exchange 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 securities exchange 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 securities
exchange offeror is first identified. Relevant persons who deal in
the relevant securities of the offeree company or of a securities
exchange 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 per cent or more of any class of relevant
securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange 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 securities exchange offeror,
save to the extent that these details have previously been
disclosed under Rule 8 of the Takeover Code. A Dealing Disclosure
by a person to whom Rule 8.3(b) of the Takeover Code 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
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3 of the Takeover Code.
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 of
the Takeover Code).
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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