Statement re Mandatory Offer
17 9월 2009 - 7:45PM
UK Regulatory
TIDMDLD
RNS Number : 2329Z
Deutsche Land Plc
17 September 2009
Deutsche Land plc
("Deutsche Land" or "Company")
17 September 2009
Statement re mandatory offer
The Board of Deutsche Land has noted that Black Sea Global Properties Limited
("BSGP") yesterday posted its offer document for Deutsche Land.
After careful consideration and following discussion with its major
shareholders, the Board of Deutsche Land is unable to recommend BSGP's offer of
12p per share (the "Offer"). In particular, the Board notes that the Offer does
not reflect any control premium over and above the 12p per share that BSGP paid
when it acquired its minority stake in the Placing and Subscription that took
place in June 2009.
The Board is preparing a detailed response to the Offer and will post this to
shareholders as soon as is practicable.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,
"interested" (directly or indirectly) in 1% or more of any class of "relevant
securities" of Deutsche Land, 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 3.30 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or is otherwise withdrawn or on which the "offer period" otherwise ends.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
Deutsche Land, 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 Deutsche Land by the offeror or Deutsche Land, 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 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 Panel on telephone number +44(0) 7638 0129
or fax number +44 (0)20 7236 7013.
+--------------------------------------------+---------------------+
| Deutsche Land plc | |
+--------------------------------------------+---------------------+
| Stephen Dickinson (Chairman) | +44 (0) 20 7647 |
| David Maxwell (Chief Executive) | 9670 |
+--------------------------------------------+---------------------+
| | |
+--------------------------------------------+---------------------+
| SP Angel Corporate Finance LLP | |
+--------------------------------------------+---------------------+
| John Mackay | +44 (0) 20 7647 |
| | 9650 |
+--------------------------------------------+---------------------+
| David Facey | |
+--------------------------------------------+---------------------+
| | |
+--------------------------------------------+---------------------+
| Matrix Corporate Capital LLP | |
+--------------------------------------------+---------------------+
| Stephen Mischler | +44 (0) 20 3206 |
| | 7000 |
+--------------------------------------------+---------------------+
| | |
+--------------------------------------------+---------------------+
| Citigate Dewe Rogerson | |
+--------------------------------------------+---------------------+
| George Cazenove | +44 (0) 20 7638 |
| Hannah Seward | 9571 |
+--------------------------------------------+---------------------+
Notices
This announcement has been issued by Deutsche Land and is the sole
responsibility of Deutsche Land.
SP Angel is acting for Deutsche Land and no-one else in connection with the
offer. SP Angel will not be responsible to anyone other than Deutsche Land for
providing the protections afforded to its clients, nor for providing advice in
relation to the Offer or any other matter referred to in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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