Shareholder Announcement
Lookers PLC
25 April 2006
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN
25 April 2006
Lookers plc ('Lookers' or the 'Company')
Substantial shareholder
The Board of Lookers has been notified today that Mr Tony Bramall and his family
interests have acquired the entire shareholding in the Company previously held
by Hamilton Finance Limited, a subsidiary of GE Corporation. The total number
of shares acquired is 8,767,142 representing 24.4% of the existing issued share
capital of the Company. The Board of Lookers welcomes Mr Bramall as a
substantial shareholder in the Company and intends to invite him to join the
Board after the AGM to be held on 11 May 2006.
Mr Bramall has authorised the release of the following statement:
'I regard this as a very good investment for the family in a well-run group
where there is substantial scope for growth and I look forward to working with
my new Board colleagues to achieve this objective.
Obviously I will not be accepting the existing Pendragon offer in relation to
the above holding.'
Enquiries:
Ken Surgenor
David Dyson
Lookers plc 0161 291 0043
Richard Bailey
Andrew Thomas
N M Rothschild & Sons Limited 0161 827 3800
Andrew Hayes
Nick Lyon
James Hill
Hudson Sandler 020 7796 4133
Christopher Wilkinson
Numis Securities 020 7776 1530
The directors of Lookers plc accept responsibility for the information contained
in this announcement and, to the best of their knowledge and belief (having
taken all reasonable care to ensure that such is the case), such information is
in accordance with the facts and does not omit anything likely to affect the
import of such information.
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 Lookers or Pendragon, 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 3:30pm (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declared, unconditional as to acceptances, lapses or is otherwise withdrawn or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 Lookers or Pendragon, 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 Lookers or Pendragon by Lookers or Pendragon, 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 the 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.
N M Rothschild & Sons Limited ('Rothschild'), which is authorised and regulated
by the Financial Services Authority in the United Kingdom, is acting for Lookers
in connection with the offer and no one else and will not be responsible to
anyone other than Lookers for providing the protections offered to clients of N
M Rothschild & Sons Limited nor for providing advice in relation to the offer.
This information is provided by RNS
The company news service from the London Stock Exchange