Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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National Express (NEX)

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Friday 11 September, 2009

National Express

Statement re Possible Offer

RNS Number : 9561Y
National Express Group PLC
11 September 2009
 



11 September 2009  


National Express Group PLC


Statement regarding possible offer


National Express Group PLC ('National Express' or the 'Group') announced on 3 September 2009 that CVC Capital Partners and interests of the Cosmen family (together the 'Consortium') had made a proposal to acquire the entire issued and to be issued share capital of the Group for 500 pence per share in cash (the 'Final Proposal'). 


The Final Proposal is subject to certain assumptions and pre-conditions including receiving bank financing on appropriate terms and satisfactory completion of due diligence. The Consortium has reserved the right to waive any or all of the pre-conditions.


The Group notes that the Consortium is in discussions and has reached an 'agreement of principles' with Stagecoach Group plc ('Stagecoach'), regarding the possible acquisition by Stagecoach of the Group's UK Bus and UK Rail operations from the Consortium, which has helped the Consortium to make the Final Proposal. The Consortium has now confirmed to the Independent Board that any formal offer for the Group will not be conditional on: (i) the Department of Transport consenting to the change of control of the Group's NXEA and c2c rail franchises, nor the extension of the NXEA franchise to April 2014; nor (ii) the completion of the sale of any businesses to Stagecoach. 


The Independent Board of National Express has considered the Final Proposal and, after consultation with its advisers and major institutional shareholders, has agreed that the Consortium can undertake due diligence such that the Consortium is better able to reach a position where it could make a formal offer to National Express shareholders at 500 pence per share in cash.


Jorge Cosmen, Non Executive Deputy Chairman of National Express, did not take part in any Independent Board discussions relating to the Consortium's proposals.


The Group is currently discussing an extension to the 5pm 11 September 2009 'put up or shut up' deadline that applies to the Consortium with the Consortium and the Takeover Panel and a further announcement will be made in due course.


The Independent Board has explored a range of options to accelerate the reduction of the Group's borrowings in a way that will create value for all National Express shareholders. In that context, the Independent Board has discussed a potential equity fundraising with investorsfor which it has received significant support, and continues to believe that such a fundraising would be the most appropriate course of action should a recommendable offer not be forthcoming.


National Express confirms that this announcement is being made with the agreement and approval of the Consortium. However, for the avoidance of doubt, there can be no certainty that the approach by the Consortium will lead to an offer being made for National Express. 


Enquiries:

 

National Express Group PLC  
 
Jez Maiden
Group Finance Director
020 7506 4324  
Nicole Lander
Director of Communications
0121 460 8401  
 
 
Maitland 
020 7379 5151  
Neil Bennett
 
George Hudson
 
 
 
Merrill Lynch International
020 7628 1000
Simon Mackenzie-Smith
 
Philip Noblet
 
Simon Fraser (Corporate Broking)
 
Andrew Osborne (Corporate Broking)
 
 
 
Morgan Stanley & Co. Limited
020 7425 8000
Matthew Jarman
 
Peter Moorhouse (Corporate Broking)
 
Jon Bathard-Smith (Corporate Broking)
 



In accordance with Rule 19.11 of the City Code on Takeovers and Mergers, a copy of this announcement will be published on National Express' website:

http://www.nationalexpressgroup.com/nx1/investor/rns/


Merrill Lynch International (a subsidiary of Bank of America Corporation) and Morgan Stanley & Co. Limited are acting exclusively for National Express in relation to the possible offer and will not be responsible to anyone other than National Express for providing the protections afforded to each of their clients or for providing advice in relation to the possible offer.


Dealing Disclosure Requirements  


Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of National Express 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 National Express 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 National Express by National Express or by any of their '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 www.thetakeoverpanel.org.uk.  

  

'Interests in securities' arise, in summary, when a person has long economic exposure, whether absolute or conditional, 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 Takeover 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.  



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