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7 Aug 2008 10:14
Statement re. Grainger plc
Further to the announcement in relation to Grainger plc ("Grainger") made by Regis Group plc ("Regis") on 30 June 2008, Regis confirms that, in light of the ongoing uncertainty surrounding house prices and current economic environment, it has no present intention of making an offer for Grainger.
For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "Code"), and except with the consent of the Panel on Takeovers and Mergers, Regis reserves the right (on behalf of itself and anyone acting in concert with it) to announce or participate in an offer or possible offer for Grainger and/or to take any other action otherwise precluded under Rule 2.8 of the Code within six months of the date of this announcement if there is a material change in circumstances or if any of the following events occur:
(i) the agreement or recommendation of the Board of Directors of Grainger is given to the making of such an announcement or the taking of any such other action; or
(ii) a third party announces an offer for Grainger; or
(iii) Grainger or a third party announces a whitewash proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 in the Code) or a reverse takeover (as described in Note 2 to Rule 3.2 of the Code) in respect of Grainger.
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Enquiries: Citigate Dewe Rogerson +44 (0) 207 282 2889 Tom Baldock
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