Partial withdrawal of letter of intent

RNS Number : 5787D

Schroders PLC

24 March 2011

 



Letter of Intent: Offer by Otter Ports plc for Forth Ports plc

On 21 March 2011, Schroder Investment Management Limited provided an Irrevocable Undertaking regarding our intentions in relation to 4,623,066 shares.

On 23 March 2011, a notification was made in accordance with The City Code on Takeovers and Mergers, Rule 2.11 (d)(i), advising that we had disposed of 6,500 shares, reducing the number of share that are subject to the letter of intent to 4,616,566.

In accordance with The City Code on Takeovers and Mergers, Rule 2.11 (d)(i), we advise that, subject to clause 9 of the letter of intent, we  have disposed of a further 1,634,245 shares, and are no longer in a position to accept or procure the acceptance of the Offer, in relation to those shares.

Our intention in respect of 2,982,321 shares, being the remainder, remains as described in our Letter of Intent.

Chris Melrose

Manager, AML & Disclosure

Schroders Group Compliance

Tel:  [phone]

Fax: [phone]

e-mail: [e-mail]

 

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