POL.L Regulatory News (POL)

5 Sep 2006 10:10

Polaron PLC05 September 2006 For Immediate Release Not for release, publication or distribution in whole or in part, in or into theUnited States, Canada, Australia, Japan or any other jurisdiction if to do sowould constitute a violation of the relevant laws of such jurisdiction. 5th September 2006 Polaron plc ("Polaron" or the "Company") The Board of Polaron Plc notes the recent share price movement and announcesthat it is currently examining a number of strategic options which could includea sale of the company. The Company is in preliminary discussions with a numberof parties which may or may not lead to an offer being made for the Company. A further announcement will be made when appropriate. - Ends - The Directors of Polaron accept responsibility for the information contained inthis announcement. To the best of the knowledge and belief of the Directors ofPolaron who have taken all reasonable care to ensure that this is the case, suchinformation is in accordance with the facts and does not omit anything likely toaffect the import of such information. This announcement does not constitute anoffer or invitation to purchase or subscribe for any securities. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the"Code"), if any person is, or becomes, "interested" (directly or indirectly) in1 per cent. or more of any class of "relevant securities" of Polaron, all"dealings" in any "relevant securities" of that company (including by means ofan option in respect of, or a derivative referenced to, any such "relevantsecurities") 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. Thisrequirement will continue until the date on which the offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends. If two or more persons act togetherpursuant to an agreement or understanding, whether formal or informal, toacquire an "interest" in "relevant securities" of Polaron, they will be deemedto be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Polaron by Polaron and by any of its respective "associates",must be disclosed by no later than 12.00 noon (London time) on the Londonbusiness day following the date of the relevant transaction. A disclosure table,giving details of the companies in whose "relevant securities" "dealings" shouldbe disclosed, and the number of such securities in issue, can be found on theTakeover Panel's website at www.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 long derivative referenced to, securities. Terms in quotationmarks 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." Rule 2.10 Requirement In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Polaronconfirms that it currently has in issue 14,746,376 ordinary shares of 10p each.The International Securities Identification Number for the ordinary shares isGB00B00CRV53. This information is provided by RNS The company news service from the London Stock Exchange