ABM.L Regulatory News (ABM)

12 December 2013

STATEMENT REGARDING PRESS SPECULATION

The Board of Albemarle & Bond Holdings plc ("Albemarle") notes the recent press speculation regarding Better Capital LLP ("Better Capital") being an interested party in the formal sale process announced on 2 December 2013.

The Board of Albemarle confirms that, through the course of the formal sale process announced on 2 December 2013, it is in preliminary discussions with a number of interested parties, one of which is Better Capital.

The Board of Albemarle notes that there can be no certainty that an offer will be made as a result of the formal sale process, that any sale will be concluded, nor as to the terms on which any offer might be made. A further announcement will be made as and when appropriate.

As communicated on 2 December 2013, The Panel on Takeovers and Mergers has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the City Code on Takeovers and Mergers ("the Code") such that any interested party participating in the Formal Sales Process will not be required to be publicly identified (subject to Note 3 on Rule 2.2 of the Code) and will not be subject to the 28 day deadline referred to in Rule 2.6(a) for so long as it is participating in the formal sale process.

For further information:

MHP Communications:

Reg Hoare 0203 128 8100

Katie Hunt

Simon Hockridge

Canaccord Genuity Limited:

NOMAD and broker

Piers Coombs 0207 523 8000

Bruce Garrow 0207 523 8000

Financial adviser

Lawrence Guthrie 0207 665 4642

Shaun Holmes 0207 665 4682

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Publication on Website

A copy of this announcement will be made available at www.albemarlebondplc.com 

Canaccord Genuity Limited ("Canaccord"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Albemarle & Bond Holdings plc (as financial adviser, nominated adviser and broker) and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than for Albemarle & Bond Holdings plc for providing the protections afforded to clients of Canaccord nor for providing advice in relation to the matters referred to in this announcement.