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D1 Oils Plc (NEOS)

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Monday 15 March, 2010

D1 Oils Plc

D1 Oils Board Change

RNS Number : 5597I
D1 Oils Plc
15 March 2010
 



Monday, 15 March 2010

 

 

D1 OILS BOARD CHANGE



The independent directors of D1 Oils (the Company) announce that Brian Myerson, Chairman, and a non-executive director of the company since 2008, has left the Board, with immediate effect. The Company expresses its appreciation and thanks for his contribution. Barclay Forrest, currently non-executive director, will assume the role of Chairman. 


Ends

 

For further information please contact: 

 

 

D1 Oils plc

+ 44 (0) 20 7367 5600

Ben Good, Chief Executive Officer




Piper Jaffray Ltd.

+ 44 (0) 20 3142 8700

Michael Covington


Rupert Winckler (Qualified Executive)




Brunswick Group

+ 44 (0) 20 7404 5959

Kevin Byram

Tom Williams


 

 

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 D1 Oils, all "dealings" in any " relevant securities" of D1 Oils (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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 D1 Oils, 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 D1 Oils by D1 Oils 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 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, you should consult the Panel.

 

 


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