Statement re possible offer f

RNS Number : 7101S

SEGRO PLC

22 May 2009

 



 22 May 2009

SEGRO plc ('SEGRO') - Statement re possible offer for Brixton plc ('Brixton')

SEGRO notes the announcement by Brixton earlier today and confirms that it has made a preliminary approach to the Board of Brixton with a view to entering into discussions about a possible offer for Brixton. SEGRO currently envisages that the consideration for any offer will be in the form of SEGRO shares*.  SEGRO would like to emphasize that there can be no certainty that an offer for Brixton will be forthcoming. A further announcement will be made in due course if appropriate.

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of The City Code on Takeovers and Mergers (the 'Code').

Disclosure in accordance with Rule 2.10 of the Code

In accordance with Rule 2.10 of the Code, SEGRO confirms that its total issued ordinary share capital at 21 May 2009 comprises 5,677,371,596 ordinary shares of 1p each. SEGRO does not hold any shares in treasury. The International Securities Identification Number for SEGRO ordinary shares is GB00B1YFN979.

* SEGRO reserves the right to introduce other forms of consideration.

Enquiries:

David Sleath, Group Finance Director

Tel: [phone]

J.P. Morgan Cazenove
Mark Preston	Tel: [phone]
Robert Fowlds
Barry Weir

UBS
Fergus Horrobin	Tel: [phone]
Liam Beere

Maitland
Liz Morley	Tel: [phone]
Colin Browne

The release, distribution or publication of this announcement in jurisdictions other than the UK may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the UK should inform themselves about and observe any applicable requirements.

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 per cent. or more of any class of 'relevant securities' of SEGRO or of Brixton, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends.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 SEGRO or Brixton, 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 SEGRO or Brixton by SEGRO or Brixton, 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 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.

J.P. Morgan Cazenove Limited ('J.P. Morgan Cazenove') and UBS Limited ('UBS'), which are authorised and regulated in the United Kingdom by the Financial Services Authority, are acting exclusively for SEGRO plc and no one else in connection with the matters set out in this announcement and are not advising any other person and accordingly will not be responsible to any person other than SEGRO plc for providing the protections afforded to clients of J.P. Morgan Cazenove and UBS or for providing advice in relation to the matters described in this announcement. 

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