Statement Re: TDG plc

RNS Number : 8499W

Wincanton PLC

17 June 2008

 



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

For immediate release

17 June 2008

Statement by Wincanton plc ('Wincanton') regarding TDG plc ('TDG')

On 9 May 2008 Wincanton announced that it had approached the board of TDG with an indicative cash offer for TDG at 281.25 pence per ordinary TDG share. Wincanton has concluded that it is not in the best interests of Wincanton shareholders to proceed with an offer for TDG and has informed the Board of TDG of this decision. Wincanton accordingly confirms that it has no intention of making an offer for TDG at this time. 

Under Rule 2.8 of the City Code on Takeovers and Mergers, and except with the consent of the Panel, the statement in the preceding paragraph will prevent Wincanton or anyone acting in concert with it from announcing an offer or possible offer for TDG or taking certain other action within the next six months unless there is a material change of circumstances or there has occurred an event which is specified as enabling the statement to be set aside. Accordingly, for the purposes of Rule 2.8 of the City Code, Wincanton reserves the right (on behalf of itself and anyone acting in concert with it) to announce an offer or possible offer for TDG and/or to take any other action which would otherwise be restricted under Rule 2.8 of the City Code within the next six months in the event that: 

(i) the agreement or recommendation of the board of TDG is given to the making of such an announcement or the taking of any such other action;  

(ii) a third party (which would include Laxey Partners Ltd.) announces an offer for TDG; or  

(iii) TDG announces a 'whitewash proposal' or a 'reverse takeover' (each as defined in the Takeover Code).

Enquiries:

Wincanton plc  Graeme McFaull, Chief Executive Gerard Connell, Group Finance Director	[phone]
Lazard  Richard Stables  Melanie Gee  Jon Howells	[phone]
Buchanan  Charles Ryland  Jeremy Garcia	[phone]

 

END

 

 

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