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1 Mar 2010 15:28
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Taya Investment Company Ltd
Statement re: Avesco Group plc
Further to Avesco Group plc's ("Avesco") announcements of 22 February and 25 February 2010, Taya Investment Company Ltd (the "Company") announces that it does not currently intend to make an offer to acquire the entire issued share capital of Avesco.
The Company acquired 2,804,513 Avesco ordinary shares on 18 February 2010 and additional 2,300,000 Avesco ordinary shares on 24 February 2010, amounting, in aggregate, to 5,104,513 Avesco ordinary shares which amount to approximately 20.4 per cent. of the issued share capital of Avesco.
For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "Code"), the Company (and any person which is, or may be, acting in concert with it) reserves the right to announce or participate in an offer or possible offer for the shares in Avesco (which it does not already own), and to take any other action which would otherwise be restricted under Rule 2.8 of the Code within six (6) months of the date of this announcement: (i) with the agreement or recommendation of the board of directors of Avesco; (ii) following an announcement of an offer, a firm intention to make an offer or a possible offer, by or on behalf of a third party (including by an Avesco shareholder, director or a member of its management) for Avesco; (iii) following an announcement by or on behalf of Avesco of a "whitewash" proposal or a reverse takeover (in each case as defined in the Code); or (iv) with the consent of the Panel, if there is a material change of circumstances.
Copyright Business Wire 2010
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