Angle Regulatory News (AGL)

11 Jul 2008 13:05



ANGLE plc

11 July 2008

Not for release, publication or distribution in whole or in part, in or into the United States, Canada, Australia, Japan or the Republic of Ireland

ANGLE plc ("ANGLE" or the "Company")

Statement re. announcement

The Board of ANGLE notes the announcement made today by Braveheart Investment Group plc ("Braveheart"). The Board continues to hold shareholder meetings to discuss its positive Preliminary Results announced yesterday. The Board will make a formal response as soon as reasonably practicable after due consideration. The Board considers that the Braveheart announcement contains a number of factual inaccuracies.

Ends

Contact:

Collins Stewart Europe Limited ("Collins Stewart") which is regulated in the United Kingdom by The Financial Services Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Collins Stewart or for providing advice in relation to the 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 the Company, all "dealings" in any "relevant securities" of Braveheart or the 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Braveheart or the Company, 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 Braveheart or the Company or by Braveheart or the Company 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 price or 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 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.