PTY.L Regulatory News (PTY)

9 Feb 2006 08:49

Takeover Panel09 February 2006 2006/3 PARITY GROUP PLC ("PARITY") SPEARHEAD LTD INC ("SPEARHEAD") Following recent representations made by the advisers to Parity, the PanelExecutive has been considering the application of Rule 2.4(b) of the Code to theapproach by Spearhead to Parity. Following discussions with both parties'advisers, the Panel Executive has ruled that Spearhead must, by 12.00 noon on 3March 2006, either announce a firm intention to make an offer for Parity underRule 2.5 of the Code or announce that it does not intend to make an offer forParity. No extension to this deadline will be granted, except with the consentof the Panel Executive. In the event that Spearhead announces that it does notintend to make an offer for Parity, Spearhead and any person acting in concertwith it will, except with the consent of the Panel Executive, be bound by therestrictions contained in Rule 2.8 of the Code for six months from the date ofsuch announcement. Each of the parties has accepted this ruling. 9 February 2006 This information is provided by RNS The company news service from the London Stock Exchange