Computacenter PLC
18 November 2005
For immediate release 18 November 2005
Computacenter PLC ('Computacenter' or 'the Company')
Statement regarding movement in share price
The Board of Computacenter notes the recent movement in Computacenter's share
price and confirms that it has received a preliminary proposal, which may or may
not lead to an offer being made for the whole of the issued and to be issued
share capital of the Company. The proposal has been made by a group led by Peter
Ogden, a co-founder and non-executive director of the Company (the 'Bid Group').
The Bid Group controls in aggregate 44.2% of the Company.
An Independent Committee of the Board has been formed to consider the proposal,
consisting of Nick Cosh and Cliff Preddy (the independent non-executive
directors). The Independent Committee is being advised by HSBC Bank plc.
Discussions are at an early stage and the Independent Committee of the Board of
Computacenter would like to emphasise that there is no certainty that any offer
will be made for Computacenter.
A further announcement will be made when appropriate.
Enquiries:
HSBC Bank plc
Rupert Faure Walker (financial adviser) 020 7992 2101
Nick Donald (corporate broker) 020 7992 2151
Tulchan Communications 020 7353 4200
Andrew Grant
Julie Foster
HSBC Bank plc, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for Computacenter plc and no one else in relation
to maters described in this announcement and will not be responsible to anyone
other than Computacenter plc for providing the protections afforded to customers
of HSBC Bank plc or for providing advice on matters described in this
announcement.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in
1% or more of any class of 'relevant securities' of Computacenter, 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 p.m. (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declared, unconditional as to acceptances, lapses or is otherwise withdrawn or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 Computacenter, 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 Computacenter by an offeror or Computacenter, or by any of their
respective '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.
'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a 'dealing' under Rule 8, you should consult the Panel.
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.