DiscoverIE Regulatory News (DSCV)

12 May 2008 12:14



Acal plc

12 May 2008 

For Immediate Release 

Acal plc

The Board of Acal plc ("Acal" or "the Company") notes the recent movement in its share price. 

The Board regularly reviews and is currently reviewing the strategic options available for the development of the Company's business. This process may or may not lead to an acquisition, a business combination or an offer being made for the Company, although it is emphasised that there can be no certainty that any of these options will be implemented. 

A further announcement will be made when appropriate.

- Ends - 

For further information please contact:- 

Acal plc

Tony Laughton - Chief Executive 01483 544500 

Jim Virdee - Finance Director 01483 544500 

JPMorgan Cazenove 

Patrick Magee 020 7588 2828

Brian Coleman-Smith/James Verstringhe/Nicola Krafft 020 7367 5100 

Cubitt Consulting 

JPMorgan Cazenove Limited ("JPMorgan Cazenove"), which is authorised and 

regulated in the United Kingdom by the Financial Services Authority, is acting 

for Acal and no-one else in connection with this announcement and will not be 

responsible to anyone other than Acal for providing the protections afforded to 

its clients or for providing advice in relation to the contents of this announcement, or for any other transaction, arrangement or matters referred to in this announcement. 

Dealing disclosure requirements 

Under the provisions of Rule 8.3 of the Takeover Code, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Acal, all "dealings" in any "relevant securities" of Acal (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until the date on which any offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Acal, 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 Takeover Code, all "dealings" in "relevant securities" of Acal by any potential offeror or Acal, 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.