Comment on Press Speculation
Photo-Me International PLC
05 June 2006
PHOTO-ME INTERNATIONAL
Comment on Press Speculation
Photo-Me International plc ('PMI'), the digital imaging company, notes recent
press speculation.
PMI today confirms that it has been conducting a strategic review, which may or
may not lead to an offer being made for the Company, and has appointed JPMorgan
Cazenove as financial adviser in this matter.
A further announcement will be made in due course.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, PMI
confirms that it has in issue 364,629,331 ordinary shares of 0.5 pence each. The
International Securities Identification Number for these shares is GB0008481250.
Enquiries:
Photo-Me International 01372-453 399
Vernon Sankey (Chairman)
Jean-Luc Peurois (Finance Director)
Bankside Consultants
Charles Ponsonby 020-7367 8851
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 PMI, all dealings in any 'relevant
securities' of PMI (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 that 3.30 p.m. (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acceptances, lapses or is otherwise withdrawn or on which the 'offer period'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 PMI, 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 PMI by PMI, 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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