Statement re Ennstone plc

RNS Number : 5245N

Marwyn Materials Limited

18 February 2009

 



18 February 2009

Marwyn Materials Limited

STATEMENT REGARDING ENNSTONE PLC 

On 20 November 2008, Marwyn Materials Limited ('Marwyn Materials' or 'the Company') announced that it had approached the board of Ennstone plc ('Ennstone') in order to explore a possible transaction which may or may not involve an offer for the Ennstone shares. Since the initial approach Marwyn Materials has been unable to agree terms with Ennstone that it considers would be in the best interests of Marwyn Materials shareholders. Therefore, the proposal which Marwyn was discussing with the board of Ennstone has now been withdrawn.

Marwyn Materials considers that the opportunities to secure value-enhancing acquisitions in the building materials sector have increased in recent months. The Company is currently reviewing a number of potential purchases.

Enquiries:

For further information, please contact:

Marwyn Materials Limited

Peter Tom                                                     020 7389 6800

Simon Vivian                                                 020 7389 6800

For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers ('the Code'), Marwyn Materials reserves the right to make or participate in an offer or possible offer for Ennstone within the six months following the date of this announcement in the event that: (i) an agreement or recommendation from the Board of Ennstone is forthcoming; (ii) there is an announcement of an offer or possible offer by a third party for Ennstone; (iii) there is an announcement by or on behalf of Ennstone of a 'whitewash' proposal (as defined in the Code) or of a reverse takeover (as defined in the Code); or (iv) there is a material change of circumstances. Marwyn Materials also reserves the right to acquire any assets from Ennstone.

 

END

 

 

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