26 Apr 2012 16:30
Arden Partners plc ("Arden" or the "Company")
Termination of Offer Talks
On 29 March 2012 the Non Executive Directors of Arden announced that they had received a preliminary approach from Grahame Whateley, a former Non Executive Director of the Company, which may or may not lead to an offer being made for the whole of the issued and to be issued share capital of the Company.
Since that time, the Company has been engaged in discussions with Grahame Whateley but these discussions have not led to agreement on the structure of a possible offer and accordingly talks have now terminated.
Grahame Whateley has informed Arden that he does not intend to make an offer for the Company and has consented to the release of this announcement. Under Rule 2.8 of the Takeover Code (the "Code"), Grahame Whateley is restricted from announcing an offer or possible offer for Arden (and/or taking any other action which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement except in the circumstances set out in Note 2 to Rule 2.8.
The Board can confirm that Arden is no longer in talks regarding an offer for the Company and is no longer in an offer period.
Enquiries:
Arden Partners plc Lord Flight - Chairman
| Tel: +44 (0)20 7222 7559 |
Altium Phil Adams / Sam Fuller
| Tel: +44 (0)20 7484 4040 |
Buchanan Mark Edwards / Nicola Cronke | Tel: +44 (0)20 7466 5000 |