Irish Cont. Regulatory News (ICGC)

2 Dec 2008 17:35



Statement re possible offer

for Irish Continental Group plc ("ICG" or the "Company")

Pursuant to the announcement made by the board of directors of ICG on 23 October 2008, Moonduster Limited ("Moonduster") and Mr Eamonn Rothwell confirm that they are engaged in discussions with a view to potentially bringing forward an offer for the entire issued and to be issued share capital of ICG.

Currently Mr Rothwell is the beneficial owner of 3,938,771 ICG units (each unit comprising one ordinary share and two redeemable preference shares) and Moonduster is the beneficial owner of 6,134,170 ICG units, which in aggregate represent approximately 41 per cent. of the total issued share capital of ICG.

Discussions have commenced with potential funding providers. Notwithstanding the current funding environment, both Moonduster and Mr Rothwell are confident that the requisite funding will be arranged.

Shareholders of the Company should note that there can be no guarantee that any discussions between Moonduster and Mr Rothwell will result in an offer for the Company.

Moonduster and Mr Rothwell are being advised by Davy Corporate Finance and Goodbody Corporate Finance.

This announcement does not amount to a firm intention to make an offer and, at this stage, there can be no certainty that an offer or any other transaction will occur.

A further announcement will be made when appropriate.

For further information:

Davy Corporate Finance

Hugh McCutcheon

Des Carville

Tel: +353 1 6797788

Goodbody Corporate Finance

Brian O'Kelly

Finbarr Griffin

Tel: +353 1 6670420

Fleishman Hillard (PR Adviser to Moonduster)

James Morrissey

Tel: + 353 1 618 84 44

Q4 (PR Adviser to Eamonn Rothwell)

Gerry O'Sullivan

Tel: + 353 1 475 14 44

The directors of Moonduster and Mr Rothwell accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of Moonduster and Mr Rothwell (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

Davy Corporate Finance, which is regulated by the Financial Regulator, is acting exclusively for Moonduster and Mr Rothwell and no one else in connection with the possible offer and will not be responsible to anyone other than Moonduster and Mr Rothwell for providing the protections afforded to customers of Davy Corporate Finance or for providing advice in relation to the possible offer the contents of this announcement or any transaction or arrangement referred to herein.

Goodbody Corporate Finance, which is regulated by the Financial Regulator, is acting exclusively for Moonduster and Mr Rothwell and no one else in connection with the possible offer and will not be responsible to anyone other than Moonduster and Mr Rothwell for providing the protections afforded to customers of Goodbody Corporate Finance or for providing advice in relation to the possible offer the contents of this announcement or any transaction or arrangement referred to herein.

Any person, who is a holder of one per cent. or more of ICG units may have disclosure obligations under Rule 8.3 of the Irish Takeover Rules, effective from the date of the commencement of the Offer Period.

Not for release, publication or distribution, in whole or in part, in, into or from a jurisdiction where it is restricted by law to do so.