Hmv Group Regulatory News (HMV)

7 Feb 2006 17:06

HMV Group PLC07 February 2006 7 February 2006 - for immediate release HMV Group plc ("HMV Group") Statement re Offer Proposal Further to its 30 January 2006 announcement concerning a preliminary approach,HMV Group confirms it has received a conditional proposal regarding a possibleoffer for the Group at 190 pence per ordinary share from Permira AdvisersLimited. The Board of HMV Group, together with its advisers, have reviewed the proposalcarefully. The Board has concluded that the proposal undervalues HMV Group. Assuch, HMV Group will not be entering into any discussions with Permira AdvisersLimited with regard to the proposal. PRESS ENQUIRIES HMV 01628 818 300Paul Barker Citigroup 020 7986 4000Ian HartAndrew Seaton UBS 020 7567 8000Aidan CleggClive Beattie Brunswick 020 7404 5959Susan GilchristWilliam Cullum Citigroup Global Markets ('Citigroup') is acting for HMV and no-one else inrelation to the approach referred to in this announcement and will not beresponsible to anyone other than HMV for providing the protections afforded tocustomers of Citigroup or for giving advice in relation to this approach. UBS Limited, which is regulated in the United Kingdom by the Financial ServicesAuthority, is acting for HMV in connection with the approach referred to in thisannouncement and no-one else and will not be responsible to anyone other thanHMV for providing the protections offered to clients of UBS Limited nor forproviding advice in relation to this approach. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Code, any person who, alone or actingtogether with any other person(s) pursuant to an agreement or understanding(whether formal or informal) to acquire or control relevant securities of HMVGroup, owns or controls, or becomes the owner or controller, directly orindirectly, of one per cent. or more of any class of securities of HMV Group isrequired to disclose, by not later than 12.00 noon (London time) on the Londonbusiness day following the date of the relevant transaction, dealings in suchsecurities of that company (or in any option in respect of, or derivativereferenced to, any such securities) during the period to the date on which theoffer becomes or is declared unconditional as to acceptances or lapses or isotherwise withdrawn. Under the provisions of Rule 8.1 of the City Code, all dealings in relevantsecurities of HMV Group by HMV Group or by any of its respective 'associates'(within the meaning of the City Code) must also be disclosed. If you are in any doubt as to the application of Rule 8 to you, please contactan independent financial adviser authorised under the Financial Services andMarkets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk orcontact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013 This information is provided by RNS The company news service from the London Stock Exchange