Michelmersh Brick Holdings Regulatory News (MBH)

16 May 2007 08:40

Michelmersh Brick Holdings PLC16 May 2007 For Immediate release: 16 May 2007 Michelmersh Brick Holdings plc (Michelmersh) Statement regarding Baggeridge Brick Plc Michelmersh Brick Holdings Plc notes the announcement earlier today from Wienerberger AG ("Wienerberger") of the revised offer for Baggeridge Brick Plc ("Baggeridge") at 220 pence per Baggeridge share. Michelmersh announced on 16 April 2007 that it had acquired 17.43% of Baggeridge and today reiterates that it is considering its position, including the possibility of making an offer for Baggeridge. Michelmersh also notes that the interim results of Baggeridge to 31 March 2007 released today, report that revenues have grown by 8.6% over the same period in 2006 leading to a profit before tax (excluding Wienerberger transaction costs) of £864,000, an increase of 153% over the six months to 31 March 2006 which further underpins the basis or Michelmersh's interest in Baggeridge. Michelmersh will make a further announcement in due course. Enquiries: Michelmersh Brick Holdings plcEric Gadsden 01494 758 055Martin Warner 01442 870 227 Charles Stanley Securities 020 7149 6000Russell CookAnthony Noakes Tavistock Communications 020 7920 3150Jeremy CareyRichard Sunderland Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Baggeridge, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Baggeridge, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Baggeridge by Michelmersh or by any of its respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock Exchange