REG.L Regulatory News (REG)

5 Jun 2008 11:40



5 June 2008

Regent Inns plc

Offer Update

The Board of Regent Inns plc ("Regent Inns" or the "Company") notes the recent fall in the Company's share price.

Regent Inns confirms that it is continues to be in discussions that may or may not lead to an offer for the entire issued share capital of the Company. However, due to global credit conditions and the difficulties in obtaining the necessary financing these discussions are taking longer than anticipated.

Further announcements will be made on the progress of these discussions as appropriate.

Enquiries:

Merlin 020 7653 6620

Paul Downes 07900 244 888

Anja Kharlamova   07887 884 788

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) in 1% or more of any class of 'relevant securities' of Regent Inns plc, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') 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. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Regent Inns plc, they will be deemed to be a single person for the purpose of Rule 8.3. 

Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Regent Inns plc by a potential offeror or by Regent Inns plc, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. 

A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the website of the Panel on Takeovers and Mergers at www.thetakeoverpanel.org.uk.