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23 May 2008 16:30
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HalliburtonΒ Company
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Date: 23 May 2008
Statement reΒ ExproΒ International Group plc ("Expro")
HalliburtonΒ CompanyΒ ("Halliburton") notes today's announcement by Umbrellastream Limited ("Umbrellastream") that it hasΒ increasedΒ its offerΒ price toΒ 1,550Β pence in cash for eachΒ ExproΒ share.
HalliburtonΒ confirms that it continues to be in discussions with the Board ofΒ ExproΒ which may or may not lead to an offer being made forΒ Expro.
AccordinglyΒ HalliburtonΒ strongly urgesΒ ExproΒ shareholders to take no action at this time.Β
There can be no certainty that an offer will be made. A further announcement will be made in due course.
Enquiries:
|
Maitland (public relations adviser toΒ Halliburton) Neil Bennett UBS Investment Bank (financial adviser to Halliburton) Tom Cooper Jonathan Evans |
Tel: +44 20 7379 5151 Tel: +44 20 7568 8000 |
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" ofΒ Expro, all "dealings" in any "relevant securities" ofΒ ExproΒ (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 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will continue until the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or when the "offer period" otherwise ends.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 to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" ofΒ Expro, they will be deemed to be a single person for the purpose of Rule 8.3 of the City Code.Β
Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant securities" ofΒ ExproΒ byΒ HalliburtonΒ or byΒ ExproΒ or by any of their respective "associates" for their own account duringΒ an "offer period", must be privately and publicly disclosed by no later than 12 noon on the 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 Panel's website atΒ www.thetakeoverpanel.org.uk.Β
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of "relevant 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.Β
Terms in quotation marks are defined in the City 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 of the City Code, you should contact an independent financial adviser authorised under the Financial Services and Markets Act 2000 or consult the Panel's website or contact the Panel on telephone number +44 (0) 20 7638 0129.
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