Holding(s) in Company

RNS Number : 7040J

Impellam Group plc

06 April 2010

 



6 April 2010 

Impellam Group plc ("Impellam" or "Company")

Holdings in Company

Impellam has today been notified that, following a transfer of an indirect interest in the Company, Lord Ashcroft no longer has a beneficial interest in 25,745,349 ordinary shares of 1p each in the Company.   These shares represented the whole of his beneficial interest in the Company.

The transfer of this indirect interest has been made to the Lombard Trust (the "Trust") which now has a beneficial interest in 25,745,349 ordinary shares of 1p each in the Company representing its entire interest in the Company.  The shares represent approximately 57.21% of the Company's issued share capital.   The beneficiaries of the trust are Lord Ashcroft's children and remoter issue.

Impellam Group plc
Cheryl Jones - Executive Chairman	Tel: [phone]
Cenkos Securities plc
(Nominated Adviser and Broker to Impellam)
Nicholas Wells/Beth McKiernan	Tel: [phone]

Takeover Code Disclosure

Lord Ashcroft and the Trust are considered to be acting in concert for the purposes of Rule 9 of the City Code on Takeovers and Mergers (the "City Code"). The Takeover Panel has (i) consented to the above-referenced transfer of shares within the Concert Party whereby the Trust's shareholding has increased to a level in excess of 30% of the issued share capital of the Company; and (ii) has confirmed that there is no obligation on the Trust to make a general offer to all shareholders of the Company to acquire their ordinary shares in the Company pursuant to Rule 9 of the City Code.

Shareholders should note that the Concert Party controls in excess of 50% of the ordinary shares in issue in the Company. Accordingly, the Concert Party, for so long as the members of the Concert Party continue to be treated as acting in concert, may be able to increase its aggregate interests in shares in the Company without incurring any further obligation under Rule 9 of the City Code to make a general offer to all shareholders of the Company to acquire their Ordinary Shares. However, no individual member of the concert party will be permitted to increase its percentage interest in ordinary shares through a Rule 9 threshold (i.e. to result in a member having an interest in shares carrying 30% or more of the voting rights of the Company when previously the percentage was below 30%; or to result in the increase of a holding that is 30% or more but not exceeding 50% without the consent of the Takeover Panel).

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