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Tuesday 09 July, 2002

Rowan Dartington &Co

Offer for Yorklyde Plc

Rowan Dartington & Co. Limited
9 July 2002


                             FOR IMMEDIATE RELEASE


        This announcement is not for release or distribution in or into
                 the United States, Canada, Australia or Japan


                              Mandatory Cash Offer
                                       by
                         Rowan Dartington & Co. Limited
                                  on behalf of
                        British Mohair Holdings Limited
                                      for
                                  Yorklyde Plc



Introduction

British Mohair Holdings Limited ('British Mohair') announces the terms of a
mandatory cash offer ('the Offer') required under Rule 9 of the Takeover Code to
be made by Rowan Dartington & Co. Limited on behalf of British Mohair, to
acquire the entire issued ordinary share capital of Yorklyde Plc ('Yorklyde')
not already owned by British Mohair.

On 9 July 2002 British Mohair exercised an option to acquire 3,130,000 Yorklyde
Shares.  Immediately prior to making such an acquisition, British Mohair already
beneficially owned in aggregate 2,950,000 Yorklyde Shares, representing
approximately 28.26 per cent. of Yorklyde's entire issued ordinary share
capital.  As a consequence, British Mohair's beneficial interest now amounts to
6,080,000 shares representing approximately 58.24 per cent of the existing
issued ordinary share capital of Yorklyde.

Under Rule 9 of the Takeover Code, the requirement to make the Offer is
triggered by the exercise of the option to purchase the 3,130,000 Yorklyde
Shares.



ENQUIRIES:

British Mohair Holdings plc              01274 728 456
Richard Stork

Rowan Dartington & Co. Limited           0117 933 0020
Ian Rice




Rowan Dartington & Co. Limited, which is regulated by the Financial Services
Authority, is acting for British Mohair and no one else in connection with the
Offer and will not be responsible to anyone other than British Mohair for
providing protections afforded to the customers of Rowan Dartington & Co.
Limited nor for providing advice in relation to the Offer.

This announcement is published on behalf of British Mohair and has been approved
by Rowan Dartington & Co. Limited for the purposes of Section 21 of the
Financial Services and Markets Act 2000.

The Offer is not being made directly or indirectly in, or by the use of the
mails of, or by any means or instrumentality of interstate or foreign commerce
of, or any facilities of a national securities exchange of, the United States,
Canada, Australia or Japan.  This includes, but is not limited to, facsimile or
other electronic transmission, telex and telephone.  Accordingly copies of this
announcement are not being, and must not be, mailed or otherwise distributed or
sent in, into or from the United States, Canada, Australia or Japan.

The directors of British Mohair (whose names are set out below) accept
responsibility for the information contained in this press announcement other
than that relating to the Yorklyde Group and the directors of Yorklyde.  To the
best of the knowledge and belief of the directors of British Mohair (each having
taken all reasonable care to ensure that such is the case), the information
contained in this document for which they are responsible is in accordance with
the facts and does not omit anything likely to affect the import of such
information.

The directors of British Mohair are shown below.  The registered address of
British Mohair is PO Box 58, Midland Mills, Bradford  BD1 4RL.


P J P V Gyllenhammar
R J Stork
R A Clarke
P Sellars






        This announcement is not for release or distribution in or into
                 the United States, Canada, Australia or Japan


                              Mandatory Cash Offer
                                       by
                         Rowan Dartington & Co. Limited
                                  on behalf of
                        British Mohair Holdings Limited
                                for Yorklyde Plc



1.        Introduction

British Mohair announces the terms of a mandatory cash offer ('the Offer')
required under Rule 9 of the City Code to be made by Rowan Dartington on behalf
of British Mohair to acquire all of the issued, and to be issued, ordinary share
capital of Yorklyde (save for the 6,080,000 Yorklyde Shares already owned by
British Mohair).



2.        The Offer

On behalf of British Mohair, Rowan Dartington will offer to acquire all of the
Yorklyde Shares (other than Yorklyde Shares already owned by British Mohair) on
the following basis:


               for each Yorklyde Share            55 pence in cash



The Offer values Yorklyde's issued ordinary share capital at approximately £5.74
million.

The Offer will extend to all Yorklyde Shares (except those already owned by
British Mohair) which are unconditionally allotted or issued prior to the time
at which the Offer closes (or such earlier time as British Mohair may, subject
to the City Code or with the consent of the Panel, decide).

The Yorklyde Shares to be acquired pursuant to the Offer will be acquired fully
paid and free from all liens, charges, equitable interests, encumbrances and
other third party interests of any nature whatsoever and together with all
rights now or hereafter attaching thereto, including the right to all dividends
and other distributions hereafter declared, made or paid.


3.        Yorklyde Share Option Schemes

The Offer extends to any Yorklyde Shares unconditionally allotted, issued or
transferred while the Offer remains open for acceptance (or such earlier date as
British Mohair may, subject to the Code, determine, being not earlier than the
first closing date of the Offer), including any Yorklyde Shares which are
unconditionally allotted or issued pursuant to the exercise of options granted
under the Yorklyde Share Option Schemes.  British Mohair intends to extend
appropriate proposals to the holders of options granted under the Yorklyde Share
Option Schemes in respect of options the exercise price or prices of which is or
are less than 55p per Yorklyde Share.



4.        Information on Yorklyde

The main trading activity of the Yorklyde Group is the manufacture of fine
cloths, scarves and travel rugs made from wool, cashmere and camel hair,
principally for the luxury goods sector, together with the manufacture of
transportation fabrics.

For the year ended 31 January 2002, Yorklyde achieved a profit before taxation
of £7,000 on turnover of £19.54 million.  In the previous year, its restated
accounts show that Yorklyde made a pre-tax loss of £626,000 on turnover of
£21.92 million.

During 2001, Yorklyde Shares traded within a range of 45p to 108p per ordinary
share.  In the current year to date, Yorklyde Shares have traded between 45p and
70p per share.

At the annual general meeting held on 28th June 2002, Charles Brook, chairman of
Yorklyde referred to the fall-off in demand for the Yorklyde Group's products
throughout its markets, following the events of September 11th 2001 and
confirmed that those effects are still being experienced and are likely to
affect the year end results.



5         Information on British Mohair



The principal activities of British Mohair are the production of yarns for
weaving and knitting, the manufacture of specialised engineering products and
property management.



The British Mohair Group's existing textile company is Stork Brothers Limited.
The British Mohair Group's engineering companies are The Jewel Blade Company
Limited and W B & U Atkinson Limited.  In addition, the group has a property
company, The Keighley Fleece Mills Company Limited.



British Mohair is a wholly owned subsidiary of Browallia International BV ('
Browallia International') following the offer by Browallia International for
British Mohair being declared unconditional in all respects on 26 September
2000, upon which Browallia International successfully completed the compulsory
acquisition of the outstanding minority shares under Sections 428 to 430F of the
Companies Act.



For the year to 31 December 2000 the profit before taxation for the British
Mohair Group was £89,000 on total turnover of £28.93 million.  This turnover
included £20.05 million in respect of activities which have since been
discontinued, notably within a former subsidiary engineering company.




6.        Reasons for the Offer



On 9 July 2002, British Mohair exercised an option to acquire 3,130,000 Yorklyde
Shares.



Immediately prior to making such acquisition, British Mohair owned 2,950,000
ordinary shares in Yorklyde, representing approximately 28.26 per cent. of the
entire issued ordinary share capital of Yorklyde.



As a result British Mohair now owns a total of 6,080,000 ordinary shares in
Yorklyde, representing approximately 58.24 per cent. of the entire issued
ordinary share capital of Yorklyde.



Rule 9 of the City Code requires a person who acquires shares or rights over
shares amounting to 30 per cent. or more of a public company to make a mandatory
cash offer in accordance with the terms of Rule 9.  Accordingly, the exercise by
British Mohair of the option in respect of the 3,130,000 Yorklyde Shares has
triggered the obligation on British Mohair to make the Offer.  As the Offer is
mandatory under Rule 9 of the City Code, and as British Mohair already owns more
than 50 per cent. of Yorklyde's issued ordinary share capital, the Offer is
unconditional.  The maximum amount payable under the Offer is approximately £2.4
million in respect of the outstanding Yorklyde Shares not already owned by
British Mohair.  Rowan Dartington is satisfied that sufficient resources are
available to British Mohair to satisfy full acceptance of the Offer.



British Mohair acquired its original holding of 2,950,000 shares in Yorklyde as
a long term investment and it believes that Yorklyde's business operations are
complementary to those of British Mohair.  It is the current intention of the
board of British Mohair to continue to operate the Yorklyde business in such a
way as will lead to an improvement in operational efficiency and profitability.



It is British Mohair's intention that unless a competing situation (within the
meaning of the City Code) arises, the Offer will not be extended or increased
beyond the first closing date, which will be 21 days after the Offer is made.



7.        Management and employees



British Mohair recognises the skills, technical ability and experience of the
existing management and employees of Yorklyde.  The board of British Mohair
confirms that the existing employment rights, including any pension rights, of
all employees of the Yorklyde Group will be fully safeguarded.



8.        Financing of the Offer



The Offer is to be financed from the cash resources of British Mohair.



9.        Further terms of the Offer



The Yorklyde Shares will be acquired by British Mohair fully paid and free from
all liens, equitable interests, charges, encumbrances, rights of pre-emption and
other third party rights of any nature whatsoever and together with all rights
now or hereafter attaching thereto, including, without limitation, the right to
receive and retain all dividends and other distributions declared, made or
payable on or after 9 July 2002, being the date of the announcement of the
Offer.



The Offer will be made on the further terms set out in the Offer Document and in
the Form of Acceptance, and such further terms as may be required to comply with
the appropriate rules and regulations of the City Code.



10.      Cancellation of Listing and compulsory acquisition of Yorklyde Shares



It is the intention of British Mohair that, as soon as it is appropriate and
possible to do so, an application will be made to the UK Listing Authority to
cancel the listing of Yorklyde Shares on the Official List of the London Stock
Exchange.  It is anticipated that such cancellation will take effect from a date
not earlier than 20 business days after the first closing date of the Offer.
Thereafter, and in due course, it is intended that a resolution will be proposed
to Yorklyde Shareholders to the effect that Yorklyde will be re-registered as a
private company.



In addition, on receipt of valid acceptances in respect of not less than 90 per
cent. of the Yorklyde Shares which are the subject of the Offer, British Mohair
intends to apply the provisions of sections 428 to 430F of the Companies Act to
acquire compulsorily any Yorklyde Shares in respect of which valid acceptances
have not been received.



11.       The Offer Document



Rowan Dartington, which is acting as financial adviser to British Mohair,
intends to despatch the Offer Document, together with the Form of Acceptance, as
soon as reasonably practicable.



12.       General



Save as otherwise disclosed in this press announcement, neither British Mohair
nor any British Mohair director nor, to the best of British Mohair's knowledge
and belief, any person acting in concert with British Mohair for the purposes of
the Offer, owns or controls any Yorklyde Shares or any options to purchase any
Yorklyde Shares or has entered into any derivative referenced to securities of
Yorklyde which remains outstanding.



Further details of the bases and sources of certain financial information in
this announcement are set out in Appendix I.  Appendix II contains definitions
of the terms used in this announcement.




                                   APPENDIX I

                               BASES AND SOURCES



(i)                 Unless otherwise stated, the financial information
concerning British Mohair has been extracted from British Mohair's 2000 annual
report or other published sources and that concerning Yorklyde has been
extracted from Yorklyde's 2002 annual report or other published sources.



(ii)                The value of the Offer is based on 10,439,788 Yorklyde
Ordinary Shares in issue.






                                  APPENDIX II
                                  DEFINITIONS


The following definitions apply throughout this announcement, unless the context
requires otherwise:


'Act' or 'Companies Act'           the Companies Act 1985, as amended


'British Mohair'                   British Mohair Holdings Limited


'British Mohair Group'             British Mohair, its subsidiaries and subsidiary undertakings


'City Code'                        the City Code on Takeovers and Mergers


'Daily Official List'              the London Stock Exchange Daily Official List


'Form of Acceptance'               the form of acceptance, relating to the Offer which is to be despatched
                                   with and accompany the Offer Document


                                   the document to be sent to Yorklyde Shareholders containing and setting
                                   out the terms and conditions of the Offer
'Offer Document'

'Offer'                            the offer to be made by Rowan Dartington on behalf of British Mohair to
                                   acquire all of the Yorklyde Shares (other than any already owned by any
                                   member of the British Mohair Group) on the terms set out in this
                                   document and the Form of Acceptance and including, where the context so
                                   requires, any subsequent revision, variation, extension or renewal of
                                   such offer


'Panel'                            the Panel on Takeovers and Mergers


'Rowan Dartington'                 Rowan Dartington & Co. Limited


'Securities Act'                   the United States Securities Act of 1933 as amended


'UK' or 'United Kingdom'           the United Kingdom of Great Britain and Northern Ireland


'UK Listing Authority'             The Financial Services Authority acting in its capacity as the competent
                                   authority for the purposes of Part VI of the Financial Services and
                                   Markets Act 2000.


'US Persons'                       has the meaning given to it by Regulation S under the Securities Act


'USA' or 'United States'           the United States of America, its territories and possessions, any state
                                   of the United States and the District of Columbia and any other areas
                                   subject to its jurisdiction


'Yorklyde'                         Yorklyde Plc


'Yorklyde Group'                   Yorklyde, its subsidiaries and subsidiary undertakings


'Yorklyde Shares'                  the existing unconditionally allotted or issued and fully paid ordinary
                                   shares of 10p each in the capital of Yorklyde and any further such
                                   shares which are unconditionally allotted or issued while the Offer
                                   remains open for acceptance (or by such earlier date or dates as British
                                   Mohair may, subject to the City Code, decide)


'Yorklyde Shareholders'            holders of Yorklyde Shares


'Yorklyde Share Option Schemes'    the discretionary share option scheme and the savings-related option
                                   scheme adopted by Yorklyde








                      This information is provided by RNS
            The company news service from the London Stock Exchange
                                                        

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