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Prezzo PLC (PRZ)

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Wednesday 08 October, 2008

Prezzo PLC

Termination of offer discussi

RNS Number : 4169F
Prezzo PLC
08 October 2008

Prezzo plc 

('Prezzo' or the 'Company')

Termination of offer discussions

On 06 May 2008, the board of Prezzo Plc (the 'Board') announced that certain members of its Board (the 'Participating Directors') had made a preliminary approach seeking permission to explore the opportunity of making an offer for Prezzo Plc (the 'Company'). The Independent Director of Prezzo has been informed that, due to current banking conditions,  the Participating Directors have terminated discussions concerning a potential offer for the company. The Company is not in discussions with any other party regarding a potential offer for the Company. Accordingly, the Company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers (the 'City Code'). 

For the purposes of Rule 2.8 of the City Code, each of the Participating Directors and certain members of the Kaye family / reserve the right to make or participate in an offer for Prezzo within the next six months in the event of: (i) the agreement or recommendation of the Independent Committee of the Board; (ii) the announcement of an offer by a third party for Prezzo; or (iii) the announcement by Prezzo of a 'whitewash' proposal for the purposes of Rule 9 of the City Code or of a reverse takeover, as defined in the City Code.

8 October 2008


Evolution Securities

020 7071 4300

Tom Price

Bobbie Hilliam

College Hill

020 7457 2020

Justine Warren

Matthew Smallwood

This information is provided by RNS
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