Partial Offer for Shares in T

RNS Number : 4329V
Guinness Peat Group PLC
28 May 2008
 




GUINNESS PEAT GROUP plc



The following announcement was made by Guinness Peat Group plc earlier today to the New Zealand Stock Exchange.


No Extension of Offer Period to GPG's Partial Offer for TOWER Shares


GPG Twenty One Limited ("GPG"has received advice from certain TOWER shareholders that they intend to accept its partial offer for in aggregate 10.5% of TOWER's shares.  On this basis GPG is highly confident its partial offer will be successful as, if such acceptances are received, then, when aggregated with acceptances already received, this will result in acceptances for approximately 11% of TOWER's shares.  GPG expects acceptances during the balance of the offer period will result in it receiving acceptances for all of the 15.30% sought under the offer.  Accordingly, it is advised that the offer is full and final and the offer period will not be extended beyond the current closing date of 19 June.


TOWER shareholders are urged to accept the offer and approve it being made prior to the offer closing on 19 June 2008.



Richard Russell

Company Secretary

Guinness Peat Group plc

Tel: +44 20 7484 3370


28 May 2008





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