Irish Cont. Regulatory News (ICGC)

26 Sep 2007 14:21

Goodbody Corporate Finance26 September 2007 ANNOUNCEMENT 26 September 2007 Irish Continental Group plc ("ICG" or the "Company") Statement on behalf of Aella plc ("Aella") and the MBO Team The ICG MBO Team ("Aella") notes with surprise the announcement from MoondusterLimited earlier today in which it is stated, inter alia, that "representativesof Aella have confirmed to Moonduster that Aella would not be prepared to acceptan offer from Moonduster at any price". No meaningful engagement has takenplace between Aella and Moonduster for a number of months and, therefore,Moonduster is not in a position to represent the views of Aella in this regard.Shareholders should place no reliance on the validity of any statement byMoonduster regarding the position of Aella now or in the future. Aella notes that Moonduster has recently acquired shares at a price of €25.25per ICG Unit and that Moonduster has confirmed that the Cash Considerationpayable pursuant to the Moonduster Scheme has increased to €25.25 per ICG Unit. Aella notes that the conditionality of the Moonduster offer, in particular therequirement for Competition Authority approval remains and Moonduster nowappears to be introducing further conditionality in relation to acceptance ofits offer. Aella, therefore, believes that there remains considerable doubtconcerning Moonduster's ability to successfully complete an offer for allshareholders. Enquiries Q4Gerry O' Sullivan Telephone +353 1 475 1444 Goodbody Corporate Finance Telephone +353 1 667 0420Brian O'KellyFinbarr GriffinDavid Kearney The directors of Aella plc and the MBO Team accept responsibility for theinformation contained in this announcement. To the best of their knowledge andbelief (having taken all reasonable care to ensure that such is the case), theinformation contained in this announcement for which they take responsibility isin accordance with the facts and does not omit anything likely to affect theimport of such information. Goodbody Corporate Finance, which is authorised in Ireland by the FinancialRegulator under the Investment Intermediaries Act 1995, is acting exclusivelyfor Aella plc and no one else in connection with the acquisition and will not beresponsible to anyone other than Aella plc for providing the protectionsafforded to clients of Goodbody Corporate Finance nor for providing advice inrelation to the acquisition. This information is provided by RNS The company news service from the London Stock Exchange