CIU.L Regulatory News (CIU)

20 Sep 2007 07:26

Cape PLC20 September 2007 20 September 2007 Cape lodges Bidder's Statement Cape Australia Investments Pty Limited (Cape), a wholly owned subsidiary of CapePLC (AIM:CIU), today lodged its Bidder's Statement for its $1.30 per share cashoffer for all of the outstanding shares in PCH Group Limited (PCH) (Offer) withthe Australian Securities and Investments Commission and sent copies to PCH andthe Australian Securities Exchange. The Offer is conditional (amongst other conditions as outlined in the Bidder'sStatement and in Cape PLC's announcement on AIM dated 13 September 2007) on thestandstill agreement which exists between Cape PLC and PCH being waived by PCH. PCH Shareholders are encouraged to make their views on the standstill knowndirectly to the Board of PCH so that PCH Shareholders are able to decide on themerits of the Offer for themselves. Cape's Bidder's Statement sets out full details of the Offer. The Bidder'sStatement also outlines a number of compelling reasons why Cape believes PCHShareholders should accept the Offer. • The Offer represents a significant premium of 91% to PCH's trading price prior to the announcement of Cape's interest in PCH. • The Offer represents a highly attractive multiple of PCH's historic earnings. • The Offer provides an excellent outcome and certainty of value for PCH Shareholders. • By accepting the Offer, PCH Shareholders demonstrate to the PCH Board their unequivocal support for the Offer. • No superior proposal has emerged. • PCH's share price may fall significantly if the Offer does not proceed. • No brokerage will be payable by PCH Shareholders accepting the Offer. The Bidder's Statement is expected to be sent to PCH Shareholders by earlyOctober 2007. PCH Shareholders are encouraged to read the Bidder's Statement fora detailed description of these reasons. Cape is being advised by Caliburn Partnership and DLA Phillips Fox is Cape'slegal adviser. Further information For further information, please contact the Cape Offer Information Line on 1800981 147 (within Australia) or +61 2 8256 3354 (outside Australia). Cape PLC Martin May, Chief Executive +44 (0)1924 876 276 Bell Pottinger Corporate & Financial Nick Lambert / Victoria Geoghegan +44 (0)20 7861 3232 / +44 (0)7811 358 764 Caliburn Partnership Simon Mordant, Joint Chief Executive +61 2 9229 1410 / +61 411 406 229Andrew Thomson, Vice President +61 3 9935 6802 / +61 400 927 726 Hawkpoint Christopher Kemball, Vice Chairman +44 (0)20 7665 4551 / +44 (0)7768 878 529Chris Robinson, Managing Director +44 (0)20 7665 4598 / +44 (0)7971 614 609 Collins Stewart Europe Limited Chris Wells/ Mark Connelly +44 (0)20 7523 8350 Third Person - Australian media contact Adrian Bradley +61 2 8298 6100 / +61 400 499 782 This information is provided by RNS The company news service from the London Stock Exchange