Unsolicited Offer for GPG Sha

RNS Number : 7444Y

Guinness Peat Group PLC

30 December 2010

 



GUINNESS PEAT GROUP PLC

ANNOUNCEMENT

In accordance with Regulations affecting companies with shares listed on the London Stock Exchange and the Australian Securities Exchange we attach herewith for information only a copy of an Announcement made on the New Zealand Stock Exchange today.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

30 December 2010

GUINNESS PEAT GROUP PLC

UNSOLICITED OFFER FOR GPG SHARES

Guinness Peat Group plc ("GPG") refers to the announcement made earlier today whereby it stated it has become aware that an unsolicited offer has been made to GPG shareholders by Pearson Securities LP to purchase GPG shares for NZ$0.49 per share.

For clarificatory purposes, the offer by Pearson Securities LP has only been made to certain GPG shareholders in New Zealand and is limited to up to 15 million GPG shares which represent 0.82 per cent of GPG's issued share capital.

As stated in the announcement made earlier today, the offer by Pearson Securities LP has not been endorsed by GPG and appears to be an opportunistic bid to acquire shares cheaply.  Shareholders should take time to compare the market price of their GPG shares with the unsolicited offer price they have received before making any decisions to sell their GPG shares.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

30 December 2010

 

END

 

 

MSCEAKAEDFFEFFF