REG.L Regulatory News (REG)

18 Jul 2005 16:08

Urbium PLC18 July 2005 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN For Immediate Release 18 July 2005 Urbium PLC ("Urbium" or the "Group") Update on Urbium Urbium notes today's announcement by Regent Inns plc ("Regent") that it feelsunable to take part in the recently announced competitive process which was madeavailable to them along with other parties who had submitted indicative offersfor the Company. Numis Securities, on behalf of Urbium, has already commenced the formal processof evaluating and progressing to diligence, where appropriate, the range ofindicative offers for the Company received to date. Throughout the entire process of four indicative offers received from Regent theBoard of Urbium and its advisors has been entirely consistent and professionalin its evaluation, consultation with major shareholders and responses to Regent.The Regent approaches not surprisingly 'put the Company in play' and as a resultthe Urbium Board remains firmly committed to securing maximum value forshareholders in the competitive process which has ensued. The Board will update shareholders further as appropriate. This announcement has not been made with the consent of any of the potentialofferors and there can be no certainty that an offer will be made nor as to theterms on which any offer might be made. - Ends - Enquiries: Urbium PLC 020 7434 0030John Conlan, ChairmanSteve Richards, Chief Executive Numis Securities Limited 020 7776 1588Jagjit Mundi / Amer Khan Weber Shandwick Square MileKevin Smith / James Chandler 07710 815 924 / 07771 787 098 Numis Securities Limited ("Numis") which is regulated in the United Kingdom byThe Financial Services Authority is acting for Urbium in relation to the mattersdescribed in this announcement and is not advising any other person, andaccordingly will not be responsible to anyone other than Urbium for providingthe protections afforded to customers of Numis or for providing advice inrelation to the matters described in this announcement. This information is provided by RNS The company news service from the London Stock Exchange