Azure Holdings PLC
04 December 2003
For immediate release
4th December, 2003
Azure Holdings plc (Formerly Room Service Group plc) ('Azure' or 'the Company')
Release of certain placees from dealing restrictions
On 12th November 2003, the investors in the Chiddingfold consortium, who have
subscribed, in aggregate, for 19.5 million new ordinary shares in Azure, all
gave an undertaking to Azure, Chiddingfold and its solicitors, not (inter alia)
to deal in any shares in Azure until Chiddingfold's mandatory offer had lapsed,
in order to ensure compliance with Rule 4.2 of the Takeover Code. This was
because it was assumed that all the parties investing alongside Chiddingfold
would be treated as acting in concert with it. After this had been done, it was
established that certain investors (who had subscribed for 4.5 million new
ordinary shares) were not acting in concert with Chiddingfold, or party to any
other concert party arrangements. The provisions of Rule 4.2 do not, therefore,
apply to them and any restrictions on dealing are only governed by the
undertakings.
In the light of the well publicised difficulties in settling transactions in
Azure shares, Azure, Chiddingfold and its solicitors have agreed to release the
non concert party investors (as set out in Appendix 3B of Chiddingfold's
announcement under Rule 2.5 of the City Code and who hold in aggregate 4.5
million shares) from their undertakings not to deal in Azure shares. This will
permit them to sell shares if they wish, which could alleviate the settlement
difficulties in the market.
Enquiries:
Azure Holdings plc
Nicolas Greenstone (Chairman) 020 7723 8833
John East & Partners Limited
John East/David Worlidge/Simon Clements 020 7628 2200
4th December, 2003
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.