Statement re Share Price Move

RNS Number : 1878N

Scott Wilson Group plc

07 June 2010

 



Scott Wilson Group plc ('SWG' or the 'Company')

Statement re share price movement

The Board of SWG notes the recent movement in the Company's share price and announces that it has received approaches with regard to a possible acquisition of the Company.  There can be no certainty that these approaches will result in an offer for the Company. 

A further announcement will be made when appropriate.

For further information please contact:

Scott Wilson Group plc
Hugh Blackwood, Group Chief Executive	020 7798 5187
Sean Cummins, Group Finance Director	020 7798 5245
Brewin Dolphin Limited (NOMAD)
Sandy Fraser	0845 213 2072

In accordance with Rule 2.10 of the Takeover Code, the Company confirms that it has 73,595,034 shares of 10p each in issue and admitted to trading under the ISIN code GB00B0WM2V87.

Brewin Dolphin Limited ("BD"), which is authorised in the United Kingdom by The Financial Services Authority, is acting for SWG and is not advising any other person, and accordingly will not be responsible to anyone other than SWG for providing the protections afforded to customers of BD or for providing advice in relation to any potential offer.

Dealing Disclosure Requirements

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10^th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on [phone].

 

END

 

 

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