Last checked at 10 Aug 2011 17:18
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
10 August 2011
Indian Energy Limited ("the Company")
Posting of Scheme Document and Report and Accounts
Further to the announcement of the recommended offer for the Company by Infrastructure India plc ("IIP") on 21 July 2011, the Company announces that the Scheme Document to implement the offer has been posted to shareholders today.
In addition the Company wishes to announce that the Report and Accounts for the year ended 31 March 2011 has been posted to shareholders today.
Copies of both documents will be posted on the Company's web site www.indian-energy.com as soon as possible.
Enquiries:
Indian Energy Limited | Tel: +44 20 3411 3640 |
Rupert Strachwitz |
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Arden Partners Plc (Financial adviser, broker and Nomad to IEL) | Tel: +44 20 7614 5917 |
Chris Hardie / Jamie Cameron |
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Pelham Bell Pottinger (Public Relations to IEL) | Tel: +44 20 7861 3232 |
Clare Gilbey |
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Infrastructure India plc | Tel: via Redleaf Polhill |
Sonny Lulla |
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Fairfax I.S. PLC (Financial Adviser to IIP) | Tel: +44 20 7598 5368 |
Simon Stevens |
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Smith & Williamson Corporate Finance Limited (Nomad and joint broker to IIP) | Tel: +44 20 7131 4000 |
Azhic Basirov / Siobhan Sergeant |
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Westhouse Securities Limited (Joint Broker to IIP) | Tel: +44 20 7601 6100 |
Alastair Moreton / Hannah Young |
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Redleaf Polhill (Public Relations to IIP) | Tel: +44 20 7566 6720 |
Samantha Robbins / Luis Mackness |
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Arden Partners, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for IEL and no one else in connection with the Proposal and will not be responsible to anyone other than IEL for providing the protections afforded to customers of Arden Partners nor for providing advice in relation to the Proposal, the contents of this announcement, or any transaction or arrangement referenced in this announcement.
Fairfax, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for IIP and no one else in connection with the Proposal and will not be responsible to anyone other than IIP for providing the protections afforded to clients of Fairfax nor for providing advice in relation to the Proposal, the contents of this announcement, or any transaction or arrangement referenced in this announcement.
DEALING DISCLOSURE REQUIREMENTS
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period and, if later, following the announcement in which any paper offeror is first identified.
An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the Offer Period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.
PUBLICATION ON WEBSITE
A copy of this announcement will be made available on both IEL's and IIP's websites at www.indian-energy.com and www.iiplc.com respectively, on 10 August 2011.
For the avoidance of doubt, the content of the websites referred to above is not incorporated into and does not form part of this announcement.