Statement re Possible Offer
Cenkos Securities PLC
22 January 2008
Cenkos Securities plc ('Cenkos')
WITHDRAWAL OF POSSIBLE OFFER FOR CLOSE BROTHERS GROUP PLC ('Close')
Further to the announcement by Cenkos on 14 January 2008 regarding a possible
offer for Close, Cenkos announces that despite submitting a proposal to Close
superior to that announced on 8 November 2007, it has been unable to agree with
Close a satisfactory basis for further discussions.
Accordingly, Cenkos announces that it no longer intends to make an offer for
Close.
-ends-
Enquiries:
HSBC (adviser to Cenkos)
Anthony Bernbaum / Julian Gray +44 20 7991 8888
Bell Pottinger (PR adviser to Cenkos)
David Rydell / Rosanne Perry +44 20 7861 3232
HSBC Bank plc, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for Cenkos and no one else in relation to matters
described in this announcement and will not be responsible to anyone other than
Cenkos for providing the protections afforded to customers of HSBC Bank plc or
for providing advice on matters described in this announcement.
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 Close Brothers, 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declared, unconditional as to acceptances, lapses or is otherwise withdrawn or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 Close Brothers, 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 Close Brothers by Close Brothers, 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
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 Takeover
Panel.
The distribution of this announcement in jurisdictions other than the United
Kingdom may be restricted by law and therefore persons into whose possession
this announcement comes should inform themselves about, and observe, such
restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities laws of any such jurisdiction. This announcement
does not constitute an offer or an invitation to purchase or subscribe for any
securities or a solicitation of an offer to buy any securities pursuant to this
announcement or otherwise in any jurisdiction.
This information is provided by RNS
The company news service from the London Stock Exchange
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