RPT.L Regulatory News (RPT)

4 Jul 2006 16:22

Regal Petroleum PLC04 July 2006 For Immediate Release 4 July 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO ORFROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTIONWHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS IN THATJURISDICTION REGAL PETROLEUM PLC (THE "COMPANY") STATEMENT ON APPROACH Pursuant to Rule 2.2 of the City Code on Takeovers and Mergers, the Boardannounces that it is currently in very early stage discussions which may or maynot lead to an offer being made for the Company. A further announcement or announcements will be made in due course. For further information, please contact: Regal Petroleum Plc Tel: 020 7408 9500Paul Morgan, Chairman & CEO Buchanan Communications Tel: 020 7466 5000Bobby Morse Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1% or more ofany class of "relevant securities" of the Company, all "dealings" in any"relevant securities" of the Company (including by means of an option in respectof, or a derivative referenced to, any such "relevant securities") must bepublicly disclosed by no later than 3.30 pm (London time) on the London businessday following the date of the relevant transaction. This requirement willcontinue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an"interest" in "relevant securities" of the Company, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of the Company by the offeror or the Company, or by any of theirrespective "associates", must be disclosed by no later than 12.00 noon (Londontime) on the London business day following the date of the relevant transaction. 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. Responsibility The Directors of the Company accept responsibility for the information containedin this statement. To the best of their knowledge and belief (having taken allreasonable care to ensure that such is the case), the information contained inthis statement is in accordance with the facts and does not omit anything likelyto affect the import of such information. This information is provided by RNS The company news service from the London Stock Exchange