Irish Cont. Regulatory News (ICGC)

1 Jun 2007 09:46

Irish Takeover Panel01 June 2007 Irish Takeover Panel Announcement Irish Continental Group plc ("ICG") On 4 April 2007 Doyle Group Limited and One Fifty One Capital Limited("Consortium") announced that they were in discussions regarding a possibleoffer for ICG. On 25 May the independent directors of ICG announced that theyhad on that day requested the Panel to impose a deadline for the Consortium toclarify whether or not it intended to make an offer for ICG. Following correspondence with the advisers to both the Consortium and theindependent directors, the Panel has ruled that, except with the consent of thePanel, the Consortium must by 5.00 p.m. on 13 June 2007 either announce an offerfor ICG under Rule 2.5 of the Takeover Rules or announce that it will notproceed with an offer for ICG. In the event that the Consortium announces that it will not proceed with anoffer for ICG it will, except with the consent of the Panel, be bound by therestrictions contained in Rule 2.8 of the Takeover Rules for 12 months from thedate of such announcement. 1 June, 2007 This information is provided by RNS The company news service from the London Stock Exchange