European Metals Holdings Regulatory News (EMH)

15 Dec 2006 10:37

European Motor Hldgs PLC15 December 2006 15 DECEMBER 2006 EUROPEAN MOTOR HOLDINGS PLC ("EMH") Rule 8 ftn 6 (b) In accordance with note 6(b) to Rule 8 of the Takeover Code, EMH announced on 11December 2006 that the standstill arrangement entered into with one of itsshareholders, UBS AG, in anticipation of its strategic review which wasannounced on 18 October 2006, had been extended to 31 January 2007. EMH announces that on 15 December 2006, EMH agreed to release UBS AG from suchstandstill arrangement. This announcement is required by Rule 8 of the Takeover Code. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1% or more ofany class of "relevant securities" of EMH, all "dealings" in any "relevantsecurities" of that company, (including by means of an option in respect of, ora derivative referenced to, any such "relevant securities") must be publiclydisclosed by no later than 3.30 p.m. (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which the "offer period" ends, or is declared unconditional asto acceptances, lapses or is otherwise withdrawn or on which the "offer" period"otherwise ends.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 orunderstanding, whether formal or informal, to acquire an "interest" in "relevantsecurities" of EMH, they will be deemed to be a single person for the purpose ofRule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of EMH by EMH or by any of its "associates", must be disclosed by nolater than 12.00 noon (London time) on the London business day following thedate of the relevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock Exchange