Engage Xr Regulatory News (EXR)

18 Apr 2008 15:54

Halliburton Company18 April 2008 Halliburton Company18 April 2008 Halliburton Company ("Halliburton") - re Expro International Group plc ("Expro") Halliburton notes the announcement by Umbrellastream Limited ("Umbrellastream")of a recommended offer for Expro. Halliburton considers the sub-sea and flow management sector to be an area ofpotential expansion for the company and confirms that it has been in discussionswith the Board of Expro which may or may not lead to an offer being made forExpro. Any such offer, if made, would be solely in cash and at a premium to theprice per share proposed to be offered by Umbrellastream. The offer would bebased on Halliburton's analysis of synergy and other benefits that could bederived from combining its business with Expro and consistent with the company'spreviously espoused strategy of making acquisitions which are accretive toshareholder value. Halliburton is currently conducting its due diligence on Expro. A furtherannouncement will be made in due course. Enquiries:Maitland (public relations adviser to Halliburton) Tel: +44 20 7379 5151 Neil Bennett Dealing disclosure requirements Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes,"interested" (directly or indirectly) in one per cent. or more of any class of "relevant securities" of Expro, all "dealings" in any "relevant securities" ofExpro (including by means of an option in respect of, or a derivative referencedto, any such "relevant securities") must be publicly disclosed by no later than3.30 p.m. on the business day following the date of the relevant transaction.This requirement will continue until the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or when the"offer period" otherwise ends. If two or more persons act together pursuant toan agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Expro, they will be deemed to be a singleperson for the purpose of Rule 8.3 of the City Code. Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevantsecurities" of Expro by Halliburton or by Expro or by any of their respective "associates" for their own account during an "offer period", must be privatelyand publicly disclosed by no later than 12 noon on the business day followingthe date 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 Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price of "relevantsecurities". 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 City Code, which can also be foundon the Panel's website. If you are in any doubt as to whether or not you arerequired to disclose a "dealing" under Rule 8 of the City Code, you shouldcontact an independent financial adviser authorised under the Financial Servicesand Markets Act 2000 or consult the Panel's website or contact the Panel ontelephone number +44 (0) 20 7638 0129. This information is provided by RNS The company news service from the London Stock Exchange