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20 Nov 2008 15:32
Marwyn Materials Limited ("Marwyn Materials")
STATEMENT REGARDING
Ennstone PLC ("Ennstone")
Further to recent speculation, Marwyn Materials confirms that it has made an approach to the board of Ennstone in order to explore a possible transaction which may or may not be an offer.
Shareholders should be aware that there is no certainty that any transaction will occur and a further announcement will be made as and when appropriate.
For the purposes of Rule 2.10 of the City Code on Takeovers and Mergers, Marwyn Materials confirms that it has 136,000,000 ordinary shares of no par value in issue at the close of business on 19 November 2008. The ISIN reference for these securities is JE00B2419D89.
Enquiries:
For further information, please contact:
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Marwyn Materials Limited |
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Peter Tom |
020 7389 6800 |
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Simon Vivian |
020 7389 6800 |
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Collins Stewart Europe Limited (Nominated Adviser) |
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Stewart Wallace, Lorraine Delannoy |
020 7523 8350 |
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Marwyn Materials or of Ennstone all dealings in any relevant securities of that 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 3:30 pm (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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Marwyn Materials or of Ennstone, 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 Marwyn Materials or of Ennstone by Marwyn Materials or Ennstone, 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 the price of 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 also 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.
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