Guoco Offer Closed

RNS Number : 5322K

Rank Group PLC

18 July 2011

 

18 July 2011

The Rank Group Plc ("Rank")

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Offer Closed

The Board of The Rank Group Plc ("Rank" or the "Group") notes the announcement by Guoco Group Limited ("Guoco Group") that, by 1.00pm on Friday, 15 July 2011, it had received valid acceptances (after taking into account withdrawals) which, added to Rank shares already owned by Guoco Group, represent 74.5 per cent of Rank shares.  As a result, Guoco Group's offer for Rank is now closed and Rank will retain its listing on the London Stock Exchange.

Rank will announce its half-year results on 28 July 2011.

Enquiries:

The Rank Group Plc

Dan Waugh                   [phone]

Goldman Sachs International

Nick Harper                   [phone]

Financial Dynamics

Marc Cohen                   [phone]

Ben Foster                    [phone]

The Independent Directors, accept responsibility for the information contained in this document, except that the only responsibility accepted by them in respect of the information contained in this document relating to Guoco Group, its subsidiary undertakings and the directors of Guoco Group and/or any such subsidiary undertakings, which has been compiled from published sources, is to ensure that such information has been correctly and fairly reproduced and presented. Subject to the aforesaid, to the best of the knowledge and belief of the Independent Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this document for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of that information.

The "Independent Directors" are the Directors of Rank, whose names are set out the circular dated 26 May 2011, except for Tim Scoble.

Tim Scoble is a non-executive director of Rank and acts, and has done so since his appointment, as a representative of Guoco Group on Rank's Board. To manage this conflict of interest, Tim Scoble has not participated, and will not participate, in the Board's discussions or receive any information in relation to the Offer.  Tim Scoble does not, therefore, accept responsibility for the views and opinions of the Independent Directors of Rank in relation to the Offer as set out in this announcement.

Goldman Sachs International, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Rank and for no-one else in connection with the offer and will not be responsible to any person other than Rank for providing the protections afforded to clients of Goldman Sachs International, nor for providing advice in relation to the offer or any other matters referred to herein.

 

END

 

 

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