Statement re Share Price Movement


 
TIDMDGT 
 
14 April 2009 
 
Dowgate Capital plc ("Dowgate" or the "Company") 
 
Share price movement 
 
The Board of Dowgate notes the recent movement in the Company's share price. 
Since last Autumn, the Board has received a number of tentative approaches from 
third parties, none of which has resulted in an offer being made for the 
Company. 
 
The Board received a further approach last week regarding a possible offer for 
the Company and has noted the third party's interest and agreed to provide key 
information on Dowgate subject to a suitable confidentiality agreement being 
signed which has not yet happened. 
 
If any further developments arise in relation to the above a further 
announcement will be made. 
 
 
For further information contact: 
 
Dowgate Capital plc 
Tony Rawlinson, Chairman             Tel: +44 (0) 20 7492 4777 
Neil Badger, Director                Tel: +44 (0) 1293 517744 
 
Grant Thornton UK LLP 
Nominated Adviser 
Philip Secrett                       Tel: +44(0) 20 7383 5100 
Colin Aaronson                       Tel: +44(0) 20 7383 5100 
 
 
Rule 2.10 of the City Code on Takeovers and Mergers 
 
Pursuant to Rule 2.10 of the City Code on Takeovers and Mergers, Dowgate would 
like to confirm that, as at the close of business on 9 April 2009, the issued 
share capital consisted of 41,437,923 ordinary shares of 7.5p each, of which 
1,950,833 shares are held in treasury. Accordingly, the number of shares 
carrying voting rights is 39,487,090. The ISIN reference number for these 
securities is GB00B1VYT114. 
 
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% or more of any class of "relevant securities" of Dowgate, all "dealings" in 
any "relevant securities" of the 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 3.30 pm (London time) on the London 
business day following the date of the relevant transaction. This requirement 
will continue until the date on which the 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unconditional as to acceptances, lapses or is otherwise withdrawn or on which 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 Dowgate 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 Dowgate by the Company, or by any of its "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. 
 
 
 
END

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