PHTM.L Regulatory News (PHTM)

5 Jun 2006 10:34

Photo-Me International PLC05 June 2006 PHOTO-ME INTERNATIONAL Comment on Press Speculation Photo-Me International plc ("PMI"), the digital imaging company, notes recentpress speculation. PMI today confirms that it has been conducting a strategic review, which may ormay not lead to an offer being made for the Company, and has appointed JPMorganCazenove as financial adviser in this matter. A further announcement will be made in due course. In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, PMIconfirms that it has in issue 364,629,331 ordinary shares of 0.5 pence each. TheInternational Securities Identification Number for these shares is GB0008481250. Enquiries: Photo-Me International 01372-453 399Vernon Sankey (Chairman)Jean-Luc Peurois (Finance Director) Bankside ConsultantsCharles Ponsonby 020-7367 8851 Dealing Disclosure Requirements: Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1% or more ofany class of "relevant securities" of PMI, all dealings in any "relevantsecurities" of PMI (including by means of an option in respect of, or aderivative referenced to, any such "relevant securities") must be publiclydisclosed by no later that 3.30 p.m. (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which the offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the "offer period"otherwise ends. If two or more persons act together pursuant to an agreement orunderstanding, whether formal or informal, to acquire an "interest" in "relevantsecurities" of PMI, they will be deemed to be a single person for the purpose ofRule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of PMI by PMI, or by any of its "associates", must be disclosed byno later than 12.00 noon (London time) on the London business day following thedate of the relevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto 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