Statement re. Press Comment

RNS Number : 6197I

Liberty PLC

16 March 2010

 



This announcement replaces RNS 4696I released at 07.00 on 12 March 2010.  The only changes are the addition of the section headed "Rule 2.10" and certain amendments to the section headed "Dealing Disclosure Requirements".  All other text remains unchanged and the full text of the updated announcement is below.

16 March 2010

For Immediate Release

Not for release, publication or distribution in whole or in part, in or into the United States, Canada, Australia, Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction.

LIBERTY Plc

("Liberty" or "the Company"):

DISCUSSIONS RELATING TO A POTENTIAL OFFER

Further to the recent press speculation, the Board of Liberty (the "Board") confirms that it has received approaches which may or may not lead to an offer being made for the Company. At this stage, it is too early for the Board to determine whether or not these discussions will result in any formal offer being made for the Company.

Over the past six months Liberty has been examining and assessing a range of options and initiatives that would enable it to build upon its success since the launch of the Renaissance of Liberty in February 2009. This has included seeking investors who could bring capital and expertise to help develop and grow the business both within the UK  and internationally.

Also the Company has noted the press comment surrounding the possible sale and leaseback of Liberty's Tudor building flagship store on Great Marlborough Street, London W1, which was the subject of an announcement by the Company on 1 March

2010.

Shareholders will be updated on further developments as appropriate.

At the time of its trading statement in January 2010, the Company said overall revenue for the year to December 2009 grew by 20% and that the flagship store generated a 16% revenue increase during the course of 2009 compared to the previous year. All divisions increased revenue with the on-line sales platform enjoying a particularly strong Christmas.

Trading has continued to benefit from the Renaissance of the Regent Street flagship store which drove footfall and market share over the remainder of the year and has continued during 2010 to date.  

Rule 2.10

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"), Liberty confirms that it currently has in issue 22,608,808 ordinary shares of 25p each and 385,000 cumulative non-redeemable preference shares of £1 each.

The International Securities Identification Number for the ordinary shares is GB0007742082.

As the cumulative non-redeemable preference shares are not listed, there is no applicable International Securities Identification Number.

Ends.

Contact:

Richard Balfour-Lynn, Chairman, Liberty.                     Tel: [phone]

Baron Phillips, Baron Phillips Associates.                      Tel: [phone]

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 Liberty 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 Liberty 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 Liberty plc by Liberty 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.

The Directors of Liberty plc accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of Liberty plc, who have taken all reasonable care to ensure that this is the case, such information is in accordance with the facts and does not omit anything likely to affect the import of such information. This announcement does not constitute an offer or invitation to purchase or subscribe for any securities.

Seymour Pierce Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Liberty plc and for no one else in connection with the proposed offer and is not advising any other person or treating any other person as its client in relation thereto and will not be responsible to anyone other than Liberty plc for providing the protections afforded to clients of Seymour Pierce Limited, or for giving advice to any other person in relation to the proposed offer, the contents of this announcement or any other matter referred to herein.

Cavendish Corporate Finance LLP, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Liberty plc and for no one else in connection with the proposed offer and is not advising any other person or treating any other person as its client in relation thereto and will not be responsible to

anyone other than Liberty plc for providing the protections afforded to clients of Cavendish Corporate Finance LLP, or for giving advice to any other person in relation to the proposed offer, the contents of this announcement or any other matter referred to herein.

Global Leisure Partners LLP, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Liberty plc and for no one else in connection with the proposed offer and is not advising any other person or treating any other person as its client in relation thereto and will not be responsible to anyone other than Liberty plc for providing the protections afforded to clients of Global Leisure Partners LLP, or for giving advice to any other person in relation to the proposed offer, the contents of this announcement or any other matter referred to herein.

 

END

 

 

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