REG.L Regulatory News (REG)

23 Jun 2005 08:53

Takeover Panel23 June 2005 2005/28 URBIUM PLC ("URBIUM") REGENT INNS PLC ("REGENT INNS") Following recent representations made by the advisers to Urbium, the PanelExecutive has been considering the application of Rule 2.4(b) of the Code to theapproach by Regent Inns to Urbium. Following discussions with both parties'advisers, the Panel Executive has ruled that Regent Inns must, by 12.00 noon onThursday 21 July 2005, either announce a firm intention to make an offer forUrbium under Rule 2.5 of the Code or announce that it does not intend to make anoffer for Urbium. No extension to this deadline will be granted, except withthe consent of the Panel Executive. In the event that Regent Inns announcesthat it does not intend to make an offer for Urbium, Regent Inns and any personacting in concert with it will, except with the consent of the Panel Executive,be bound by the restrictions contained in Rule 2.8 of the Code for six monthsfrom the date of such announcement. Each of the parties has accepted this ruling. 23 June 2005 This information is provided by RNS The company news service from the London Stock Exchange