Michelmersh Brick Holdings Regulatory News (MBH)

1 Aug 2007 07:30

Michelmersh Brick Holdings PLC01 August 2007 Michelmersh Brick Holdings plc ("Michelmersh" or "the Company") Acceptance of Offer for Baggeridge Brick Plc Shares at 247p Per Share Michelmersh announced on 4 June 2007 that it held a 23.12 per cent. stake in Baggeridge Brick PLC ("Baggeridge") and was continuing to evaluate a possible offer for Baggeridge at a price of no less than 225 pence per share. In light of an increased offer for Baggeridge by Wienerberger Finance Service B.V. ("Wienerberger") at a price of 247 pence per share, the Board of Michelmersh confirmed on 15 June 2007, that it would no longer be proceeding with an offer for Baggeridge. Michelmersh acquired its 23.1 per cent. interest in Baggeridge at an average cash acquisition price of 214.8 pence per share. On 3 July 2007, Michelmersh announced that it had acquired a further 809,000 Baggeridge ordinary shares, increasing its holding to 25.1 per cent of the issued share capital of Baggeridge. The consideration for these shares was satisfied by way of the issue of 1,998,230 new Michelmersh shares. After further consideration, the Board of Michelmersh has decided that it is in the best interests of the Company to accept the offer of 247 pence per share by Wienerberger in respect of its entire holding of 10,356,869 ordinary shares in Baggeridge and has effected this acceptance. In a trading update issued on 3 July 2007, Michelmersh announced that itcontinues to see strong demand for its products across all group companies andthat the Board anticipates underlying operating profit for the six months to 30June 2007 will be significantly higher than the comparable period in 2006 andwill be ahead of estimates for the period. The Company will announce its interim results on 10 September 2007. Enquiries: Michelmersh Brick Holdings plcMartin Warner 01442 870 227 Nominated Adviser and BrokerCharles Stanley Securities 020 7149 6000Russell CookAnthony Noakes Tavistock Communications 020 7920 3150Jeremy CareyRachel Drysdale This information is provided by RNS The company news service from the London Stock Exchange