Response to statement by Ober

RNS Number : 9123Y

De La Rue PLC

04 January 2011

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION (INCLUDING THE UNITED STATES) WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
4 January 2011
FOR IMMEDIATE RELEASE
DE LA RUE plc ("De La Rue")

De La Rue notes the press announcement issued earlier today by Francois-Charles Oberthur Fiduciaire S.A. ("Oberthur").

In its interim statement issued on 23 November 2010, De La Rue disclosed details of the paper production issues that it had first identified and disclosed in July 2010. It made it clear that it was in an ongoing dialogue with the customer concerned and that uncertainty remained as to the ultimate outcome of this issue and its impact on the group.  This position remains and as soon as this uncertainty is removed, De La Rue will make an appropriate statement to the market.

De La Rue also stated in its interim statement that the Board was pleased generally with the level of enquiries and new orders that it had recently received. De La Rue reiterates this position. Orders taken by the group since July 2010 are comparable with those won in the similar period in the preceding year.

Nicholas Brookes, Chairman of De La Rue, said:

"Outside of the well-publicised paper production issues with a major banknote paper customer, which we first announced in July 2010, De La Rue continues to enjoy encouraging order levels which are at comparable levels to the equivalent period last year."

Enquiries:

De La Rue Nicholas Brookes (Chairman) Tim Cobbold (Chief Executive) Colin Child (Group Finance Director)	01256 605000
Brunswick Jon Coles Kate Holgate	020 7404 5959
Rothschild Crispin Wright Neil Thwaites	020 7280 5000
J.P. Morgan Cazenove Michael Wentworth-Stanley Alex Garner	020 7588 2828

A copy of this announcement will be available at www.delarue.com.  The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Rothschild, which is authorised and regulated by the Financial Services Authority, is acting exclusively as financial adviser to De La Rue and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than De La Rue for providing the protections afforded to clients of Rothschild or for providing advice in relation to this matter, the content of this announcement or any matter referred to herein. Neither Rothschild nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Rothschild in connection with this announcement, any statement contained herein or otherwise.

J.P. Morgan plc, which conducts its UK investment banking business as J.P. Morgan Cazenove and is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as independent financial adviser to De La Rue and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than De La Rue for providing the protections afforded to its clients nor for providing advice in relation to the matters set out in this announcement.

Disclosure requirements of the City Code on Takeovers and Mergers (the "Code")

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of

relevant securities of an offeree company or of any paper offeror (being any offeror other than

an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in

cash) must make an Opening Position Disclosure following the commencement of the offer

period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short

positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree

company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom

Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th

business day following the commencement of the offer period and, if appropriate, by no later

than 3.30 pm (London time) on the 10th business day following the announcement in which

any paper offeror is first identified. Relevant persons who deal in the relevant securities of the

offeree company or of a paper offeror prior to the deadline for making an Opening Position

Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of

any class of relevant securities of the offeree company or of any paper offeror must make a

Dealing Disclosure if the person deals in any relevant securities of the offeree company or of

any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of

the person's interests and short positions in, and rights to subscribe for, any relevant

securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that

these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person

to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the

business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether

formal or informal, to acquire or control an interest in relevant securities of an offeree

company or a paper offeror, they will be deemed to be a single person for the purpose of Rule

8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror

and Dealing Disclosures must also be made by the offeree company, by any offeror and by

any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening

Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure

Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of

the number of relevant securities in issue, when the offer period commenced and when any

offeror was first identified. If you are in any doubt as to whether you are required to make an

Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market

Surveillance Unit on [phone].

 

END

 

 

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