Rule 2.4 announcement

Comland Commercial PLC 07 September 2007 Comland Commercial Plc ('Comland Commercial' or the 'Company') Announcement in accordance with Rule 2.4 of the City Code on Takeovers and Mergers The Board of Comland Commercial is in advanced discussions with MCF Commercial Limited, a company owned by Comland's Chief Executive Stuart Crossley, in relation to a recommended proposal for the acquisition of the entire issued share capital of Comland, for cash at a price of £9.50 per share. The proposed acquisition will be implemented by way of a scheme of arrangement and will be subject, amongst other things, to the approval of shareholders and sanction of the Court. It is proposed that a cash and share alternative will also be made available. This announcement is being made with the consent of MCF Commercial Limited. There is no certainty that an offer will be made. A further announcement is expected to be made in due course. Comland Commercial announces, in accordance with Rule 2.10 of the City Code on Takeovers and Mergers, that at the close of business on 6 September 2007 its issued share capital consisted of 4,556,520 ordinary shares of 10 p each. The International Securities Identification Number is GB 0001859072. Enquiries: Comland Commercial Plc 01628 535 777 Chris Martin Grant Thornton Corporate Finance 020 7936 3000 Philip Secrett Colin Aaronson The Directors of Comland Commercial accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of Comland Commercial (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. Grant Thornton Corporate Finance is acting for Comland Commercial and for no-one else in connection with the possible offer and will not regard any other person as its client nor be responsible to anyone other than Comland Commercial for providing the protections afforded to clients of Grant Thornton Corporate Finance nor for providing advice in relation to the possible offer or any matter referred to herein. Grant Thornton Corporate Finance is a division of Grant Thornton UK LLP, which is authorised and regulated by the Financial Services Authority in respect of regulated activities. Dealing disclosure requirements Under the provisions of Rule 8.3 of the Takeover Code (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 Comland Commercial, all 'dealings' in any 'relevant securities' of Comland Commercial (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by not later than 3.30 p.m. (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer for Comland Commercial 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 Comland Commercial, 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 City Code, all 'dealings' in 'relevant securities' of Comland Commercial by the potential offeror or Comland Commercial 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 companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the 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. This information is provided by RNS The company news service from the London Stock Exchange
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