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W.H. Ireland Group (WHI)

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Monday 09 March, 2009

W.H. Ireland Group

Update on Possible Offer

RNS Number : 5452O
W.H. Ireland Group PLC
09 March 2009
 



9 March 2009

WH Ireland Group PLC ('WH Ireland')


Blue Oar PLC ('Blue Oar')


Update on Possible Offer by WH Ireland for Blue Oar


On 2 March 2009 the boards of WH Ireland and Blue Oar announced a possible merger between WH Ireland and Blue Oar which, if implemented, is expected to be achieved by way of a court sanctioned scheme of arrangement.  WH Ireland and Blue Oar announce that discussions are well advanced and ongoing between the parties and a further announcement will be made in due course. 


There can be no certainty that any offer will be made for Blue Oar, whether on the terms as previously announced or otherwise.


Enquiries:


WH Ireland

Tel: 020 7220 0475

Richard Ford



Oriel Securities Ltd

Tel: 020 7710 7600

Tom Durie


Jonathan Walker



Blue Oar

Tel: 020 7448 4400

Justin Lewis


Bernie Leaver



Daniel Stewart

Tel: 020 7776 6550

Lindsay Mair


Paul Shackleton


Charlotte Stranner



Biddicks (Financial PR to WH Ireland)

Tel: 020 7448 1000

Zoe Biddick



Smithfield (Financial PR to Blue Oar)

Tel: 020 360 4900

Reg Hoare



Dealing Disclosure Requirements


The disclosure requirements are set out in more detail in Rule 8 of the Code. In particular, under the provisions of Rule 8.3 of the Code, if any person is, or becomes, 'interested' (directly or indirectly) in one per cent. or more of any class of 'relevant securities' of Blue Oar or WH Ireland, 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 p.m. (London time) on the 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the offer period otherwise ends.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 Blue Oar or WH Ireland, they will be deemed to be a single person for the purpose of Rule 8.3 of the Code.


Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Blue Oar or WH Ireland by WH Ireland or Blue Oar, or by any of their respective 'associates' (within the meaning of the Code), must also be disclosed by no later than 12.00 p.m. (London time) on the 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 of the Code, you should consult the Panel.  


If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial adviser authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 (020) 7638 0129; fax: +44 (020) 7236 7013.


This Announcement does not constitute, or form part of, an offer or invitation to purchase any securities.




This information is provided by RNS
The company news service from the London Stock Exchange
 
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