Statement re Possible Offer
Huveaux PLC
22 October 2007
22 October 2007
Huveaux PLC ('Huveaux' or the 'Company')
Possible offer and trading update
The Board of Huveaux announces that the Company has received preliminary
approaches from a number of private equity houses in relation to a possible
offer for the Company. Discussions are at a very early stage and there can be no
certainty that an offer will be made, nor as to the terms on which any offer
might be made.
Following the announcement that there will not be a General Election in 2007,
the Board is confident that the Company will deliver its usual strong
performance in the final quarter of the year. However, the Board now expects
trading EBITDA for the year to 31 December 2007 to be in the range of £6 million
to £7 million.
The Company is now considered to be in an offer period under the City Code on
Takeovers and Mergers (the 'Code') and is required under Rule 28 of the Code to
report upon any profit forecast or estimate published during an offer period.
This report is being prepared in relation to the trading update above and will
be announced and sent to shareholders in due course.
Enquiries:
Dresdner Kleinwort Limited Tel: 020 7623 8000
Nominated Adviser
Charles Batten
Joe Thompson
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 Huveaux PLC, 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 3.30 pm (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or is otherwise withdrawn or on which the 'offer period' otherwise ends.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 Huveaux
PLC, 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 Huveaux PLC by Huveaux PLC, 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.
Disclosure in accordance with Rule 2.10 of the Code:
In accordance with Rule 2.10 of the Code, Huveaux PLC confirms that it has in
issue and admitted to trading on the London Stock Exchange 151,998,453 ordinary
shares of 10 pence each under the ISIN code GB000031129579.
Dresdner Kleinwort Limited:
Dresdner Kleinwort Limited, which is authorised and regulated by the Financial
Services Authority, is acting for Huveaux PLC and for no-one else in connection
with the contents of this announcement and will not be responsible to anyone
other than Huveaux PLC for providing the protections afforded to customers of
Dresdner Kleinwort Limited, or for affording advice in relation to the contents
of this document or any matters referred to herein. Dresdner Kleinwort Limited
has given and not withdrawn its written consent to the issue of this
announcement with the inclusion of the reference to its name in the form and
context in which it is included.
END
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