AUG.L Regulatory News (AUG)

3 Jul 2009 17:47



One Fifty One plc ("One51")

Re. Possible Offer for Augean plc

On 26 August 2008 the board of One51 announced that it had approached the board of Augean plc ("Augean") about the possibility of making an offer for the entire issued and to be issued share capital of Augean, and stated in its announcement on 28 August 2008 that there could be no certainty that an offer would be made.

Following a number of months of discussion with the board of Augean, One51 is disappointed to confirm that it is no longer considering making an offer for Augean. 

One51 will be requesting appropriate Board representation as the Company's largest shareholder and will also seek to engage with the Company's key shareholders.

Important Notice

For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers (the "Code"), One51 reserves the right (on behalf of itself and anyone acting in concert with it) to announce an offer or possible offer for Augean and/or to take any other action which would otherwise be restricted under Rule 2.8 of the City Code within the next six months in the event that:

1. the agreement or recommendation of the board of Augean is given to the making of such an announcement or the taking of any such other action; or 

2. a third party announces an offer for Augean; or 

3. Augean announces a 'whitewash proposal' or a 'reverse takeover' (each as defined in the City Code on Takeovers and Mergers).

Information on One51 plc

One51 plc is an investment company with interests in the areas of Renewable Energy, Infrastructure, Food and Environmental Services.

One51's Environmental Services business is a leading commercial waste recycling enterprise with operations in Ireland and the UK.

One51's Environmental Services business is comprised of 4 divisions - Metals Recycling, Materials Recycling, Speciality Plastics and Hazardous Waste Management. It is the number one metal recycler and hazardous waste management operator in Ireland together with an expanding footprint in the UK.

Environmental Services has developed strongly over the past 3 years with revenues in excess of €350 million.

For further information please refer to www.one51.com