Update on possible offer talks

    RNS Number : 6185U
  Arden Partners plc
  16 May 2008
   

    Arden Partners plc
    16 May 2008


    Arden Partners plc ('Arden' or the 'Company')

    Update on possible offer talks

    On 6 May 2008, the board of Arden (the 'Board') announced that it was in preliminary talks with Cenkos Securities plc ('Cenkos')
regarding a potential combination of the two businesses, which may or may not have led to an offer being made for the Company.  The Board
announces that all discussions with Cenkos in this regard have now ceased.

    The Board, however, announces that it has had preliminary approaches from other parties which may or may not lead to an offer being made
for the Company. 

    A further announcement will be made in due course as appropriate.

    For further information please contact:

    Arden Partners plc                                                                       0121 423 8900
    Jonathan Keeling                         

    Altium Capital Limited (Rule 3 adviser and NOMAD to Arden)      0207 484 4040  
    Phil Adams                            

    Buchanan Communications Limited (PR adviser to Arden)             0207 466 5000  
    Mark Edwards                            

    Dealing Disclosure Requirements

    Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the "Code"), if any person is, or becomes, "interested"
(directly or indirectly) in 1 per cent. or more of any class of "relevant securities" of Arden, all "dealings" in any "relevant securities"
of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be
publicly disclosed by no later than 3:30pm (London time) on the London business day following the date of the relevant transaction. This
requirement will continue until the date on which an offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise
withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire an "interest" in "relevant securities" of Arden, they will be deemed to be a single person for the
purpose of Rule 8.3.

    Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Arden by Arden, or by any of their respective
"associates", must be disclosed by no later than 12:00 noon (London time) on the London business day following the date of the relevant
transaction.

    A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of
such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

    "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in
the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative referenced to, securities.

    Terms in quotation marks are defined in the Code, which can also be found on the Takeover Panel's website. If you are in any doubt as to
whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Takeover Panel.
This information is provided by RNS
The company news service from the London Stock Exchange
 
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