Maclellan Group PLC
22 March 2006
22 March 2006
MacLellan Group plc ("MacLellan" or "the Company")
Re: Movement in share price
The Board of MacLellan notes the recent share price movement and confirms it has
received an indicative approach that may or may not lead to an offer being made
for the Company.
Discussions are at a preliminary stage and a further update will be made in due
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"Code"), if any person is, or becomes, "interested" (directly or indirectly) in
1% or more of any class of "relevant securities" of MacLellan, 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 3.30 pm (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unconditional as to acceptances, lapses or is otherwise withdrawn or on which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 MacLellan, 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 MacLellan by MacLellan, or by any of its "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 Takeover Panel's website at
"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.
Disclosure in accordance with Rule 2.10 of the City Code:
In accordance with Rule 2.10 of the City Code, MacLellan confirms that it has in
issue and admitted to trading on the AIM market of the London Stock Exchange
99,803,624 ordinary shares of 5 pence each under the ISIN code GB0004783519.
This information is provided by RNS
The company news service from the London Stock Exchange