Offer Talks Terminated

RNS Number : 1460P

W.H. Ireland Group PLC

19 March 2009

 



19 March 2009

WH Ireland Group PLC ('WH Ireland')

Update on Possible Offer by WH Ireland for Blue Oar plc ('Blue Oar') - Termination of Discussions

On 2 March 2009 the boards of WH Ireland and Blue Oar announced a possible merger between WH Ireland and Blue Oar (the 'Possible Offer').  WH Ireland announces that all discussions regarding the Possible Offer have terminated. 

Under Rule 2.8 of the City Code on Takeovers and Mergers, and except with the consent of the Takeover Panel, the statement above regarding the cessation of discussions will prevent WH Ireland plc or anyone acting in concert with it from announcing an offer or possible offer for Blue Oar or taking certain other action within the next six months unless there has occurred an event, as set out below, which enables the statement to be set aside. 

Accordingly, for the purposes of Rule 2.8 of the City Code, WH Ireland plc reserves the right (on behalf of itself and anyone acting in concert with it) to announce an offer or possible offer for Blue Oar and/or to take any other action which would otherwise be restricted under Rule 2.8 of the City Code within the next six months in the event that: 

(i) the agreement or recommendation of the board of Blue Oar is given to the making of such an announcement or the taking of any such other action; or 

(ii) a third party announces an offer or possible offer for Blue Oar; or 

(iii) if any announcement is made by or on behalf of Blue Oar that it is in discussions which may or may not lead to an offer (or partial offer), or formally or informally invites an offer (or partial offer) for Blue Oar; or 

(iv) Blue Oar announces a 'whitewash proposal' or a 'reverse takeover' (each as defined in the City Code on Takeovers and Mergers). 

Enquiries:

WH Ireland Richard Ford	Tel: [phone]
Oriel Securities Ltd Tom Durie	Tel: [phone]
Biddicks (Financial PR to WH Ireland) Zoe Biddick	Tel: [phone]

 

END

 

 

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