Michelmersh Brick Holdings PLC
16 May 2007
For immediate release: 16 May 2007
Michelmersh Brick Holdings plc
('Michelmersh')
Statement regarding Baggeridge Brick PLC
The Board of Michelmersh has noted the press comments following the statement
released earlier today of a possible offer by Michelmersh for Baggeridge Brick
PLC ('Baggeridge'). The Board also notes certain comments attributable to Mr
Eric Gadsden, Chairman of Michelmersh. The Board wishes to clarify as follows:
As stated previously Michelmersh confirms that it is considering its position,
including the possibility of making an offer for Baggeridge. Any such offer
would comprise of a full cash offer with a partial share alternative. However,
Michelmersh confirms that it is continuing to seek support to finance such a
cash offer, which would be at a price of not less than 225 pence per Baggeridge
share. These discussions remain at a preliminary stage and are subject to,
amongst other things, agreement of the terms on which such finance would be
provided.
This announcement is not an announcement of a firm intention to make an offer
and accordingly no certainty can be assumed that an offer will be forthcoming.
However if an offer is made it will be on terms no less favourable than as set
out in this announcement.
Certain statements have also been attributed to Mr Gadsden concerning
Wienerberger AG's possible interest in acquiring the brick making assets of
Hanson plc. The Company wishes to make clear that Mr Gadsden retracts any such
statement since it cannot be properly verified.
Michelmersh will make a further announcement in due course.
Enquiries:
Charles Stanley Securities 020 7149 6000
Russell Cook
Anthony Noakes
Tavistock Communications 020 7920 3150
Jeremy Carey
Richard Sunderland
This information is provided by RNS
The company news service from the London Stock Exchange
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