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Jacks (William) PLC (JCKS)

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Monday 16 January, 2006

Jacks (William) PLC

Offer Update

Jacks(William) PLC
16 January 2006

16 January 2006

                               WILLIAM JACKS PLC

   Update regarding substantial acquisition of shares by Sytner Group Limited

On 12 December 2005, The Board of William Jacks Plc announced that they had been
notified that Johan Holdings Berhad and its subsidiaries, Jacks International
Limited ('JIL'), Johan Investment Pte Ltd and Abacus Pacific N.V. (together 'the
Sellers'), had entered into agreements with Sytner Group Limited ('Sytner') to
dispose of all ordinary shares held by them in the Company and which total in
aggregate 7,660,110 ordinary shares of 25p each ('the Shares') representing in
aggregate 69.4% of the entire issued ordinary share capital of the Company at a
price of 91p per ordinary share.  The acquisition of the Shares by Sytner is
conditional only on the passing of all resolutions, at a general meeting of JIL,
necessary to approve the sale of such of the Shares as are held by JIL.

The Shares are currently held as follows:

Johan Investment Pte Ltd                1,082,267 Shares
Abacus Pacific N.V.                       123,042 Shares
Johan Holdings Berhad                     277,909 Shares
Jacks International Limited             6,176,892 Shares

Further to this previous announcement, the Board of William Jacks Plc has
received formal confirmation that the notice of such general meeting was posted
to JIL shareholders yesterday, 12 January 2006.  The general meeting of JIL is
due to be held on 27 January 2006.  Conditional on the passing of all
resolutions at this general meeting, completion of the purchase of the Shares
will then occur within three business days.

The Board notes that on completion of the purchase of the Shares, Sytner will
become subject to an obligation to make a mandatory offer for the entire issued
ordinary share capital of the Company, excluding the Shares, in accordance with
Rule 9 of The City Code on Takeovers and Mergers ('the Code').  Any such offer
will be in cash and at a price of not less than 91 pence per ordinary share.

The Board of Directors are continuing to seek independent advice pursuant to the
provisions of Rule 3 of the Code and accordingly recommend that the Company's
shareholders take no further action at this stage pending a further


William Jacks PLC
John Adair, Chief Executive
Tel: +44 (0) 1344 625007

Orange Corporate Finance Limited
Financial Advisers to William Jacks PLC
Shane Moloney
Tel: +44 (0) 20 7312 6555

Dealing Disclosure Requirements:

Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, 
'interested' (directly or indirectly) in 1% or more of any class of 'relevant
securities' of William Jacks, 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 3.30pm (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 William
Jacks, 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 William Jacks by Sytner Group Limited or William Jacks, or by any
of the respective 'associates' must be disclosed no later than 12.00 noon
(London time) on the London business day following the date of the relevant

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

'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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