REG.L Regulatory News (REG)

27 Apr 2006 08:06

Regent Inns PLC27 April 2006 Regent Inns plc Potential offer approach 27 April 2006 The board of Regent Inns note the recent rise in the company's share price andconfirm they have had an approach, which may or may not lead to an offer beingmade for the company. The board emphasise that this approach is at a very earlystage and there can be no guarantee that an offer will be made. A furtherannouncement will be made as appropriate. Enquiries: Merlin 020 7653 6620Paul Downes 07900 244 888Vanessa Maydon 07802 961 902 Dawnay Day Corporate Finance LtdJonathan Garbett 020 7509 2317David Floyd 020 7509 4570 Panmure Gordon & CoTim Linacre 020 7614 8300 Dealing Disclosure RequirementsUnder 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% or more of any class of "relevant securities" of Regent Inns PLC, 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until the date on which the offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends.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 Regent Inns PLC, they will bedeemed 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 "relevantsecurities" of Regent Inns PLC by the offeror or Regent Inns PLC, or by any oftheir respective "associates", must be disclosed by no later than 12.00 noon(London time) on the London business day following the date of the relevanttransaction. 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