CWC.L Regulatory News (CWC)

28 May 2008 12:45



Announcement

CABLE AND WIRELESS plc

28 May 2008

Cable and Wireless plc ("Cable & Wireless") notes the recent movement in the share price of Thus Group plc ("Thus") and confirms that it has made a preliminary approach to the Board of Thus in relation to a possible offer for the company. This announcement does not amount to a firm intention to make an offer and accordingly there can be no certainty that an offer will be made.

Contacts

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 Thus or Cable & Wireless, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Thus or Cable & Wireless, 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 Thus or Cable & Wireless by Cable & Wireless or Thus, 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."

Relevant securities in issue

In accordance with Rule 2.10 of the Code, Cable & Wireless confirms that it has 2,491,775,951 ordinary shares of 25 pence each in issue. The ISIN code for Cable & Wireless' ordinary shares is GB0001625572.