Michelmersh Brick Holdings PLC
16 May 2007
For Immediate release: 16 May 2007
Michelmersh Brick Holdings plc
(Michelmersh)
Statement regarding Baggeridge Brick Plc
Michelmersh Brick Holdings Plc notes the announcement earlier today from
Wienerberger AG ('Wienerberger') of the revised offer for Baggeridge Brick Plc
('Baggeridge') at 220 pence per Baggeridge share.
Michelmersh announced on 16 April 2007 that it had acquired 17.43% of Baggeridge
and today reiterates that it is considering its position, including the
possibility of making an offer for Baggeridge. Michelmersh also notes that the
interim results of Baggeridge to 31 March 2007 released today, report that
revenues have grown by 8.6% over the same period in 2006 leading to a profit
before tax (excluding Wienerberger transaction costs) of £864,000, an increase
of 153% over the six months to 31 March 2006 which further underpins the basis
or Michelmersh's interest in Baggeridge.
Michelmersh will make a further announcement in due course.
Enquiries:
Michelmersh Brick Holdings plc
Eric Gadsden 01494 758 055
Martin Warner 01442 870 227
Charles Stanley Securities 020 7149 6000
Russell Cook
Anthony Noakes
Tavistock Communications 020 7920 3150
Jeremy Carey
Richard Sunderland
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any
person is, or becomes, 'interested' (directly or indirectly) in 1% or more of
any class of 'relevant securities' of Baggeridge, 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unconditional as to acceptances, lapses or is otherwise withdrawn or on which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 Baggeridge, 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 Baggeridge by Michelmersh or by any of its respective
'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.
This information is provided by RNS
The company news service from the London Stock Exchange
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