SIPP.L Regulatory News (SIPP)

9 Nov 2006 11:23

Dawnay Shore Hotels plc09 November 2006 9 November 2006 FOR IMMEDIATE RELEASE DAWNAY SHORE HOTELS PLC Strategic Review The Board of Dawnay Shore Hotels plc ("the Company") today announces that it hasappointed N M Rothschild & Sons Limited and Shore Capital and Corporate Limitedas joint financial advisers to undertake a strategic review of the Company'sbusiness. The review, which may result in a transfer of the Company's propertyassets into a REIT or a sale of the Company as a whole, is aimed at maximisingshareholder value. There is no certainty that the review will result in anychange to the present ownership structure of the Company. A further announcement will be made when appropriate. - Ends - Enquiries: N M Rothschild & Sons LimitedAvi Goldberg Telephone: 020 7280 5000Shore Capital and Corporate Limited Graham Shore Telephone: 020 7408 4090Citigate Dewe Rogerson Patrick Donovan Telephone: 020 7282 2897 N M Rothschild & Sons Limited and Shore Capital and Corporate Limited are actingfor the Company and The Hotel Corporation plc and no one else in connection withthe matters referred to in this announcement and will not be responsible toanyone other than the Company and The Hotel Corporation plc for providing theprotections afforded to the respective clients of N M Rothschild & Sons Limitedor Shore Capital and Corporate Limited or for providing advice in relation tothe matters referred to in this announcement. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevantsecurities" of the Company, all "dealings" in any "relevant securities" of thatcompany (including by means of an option in respect of, or a derivativereferenced to, any such "relevant securities") must be publicly disclosed by nolater than 3.30 pm (London time) on the London business day following the dateof the relevant transaction. This requirement will continue until the date onwhich the offer becomes, or is declared, unconditional as to acceptances, lapsesor is otherwise withdrawn or on which the "offer period" otherwise ends. If twoor more persons act together pursuant to an agreement or understanding, whetherformal or informal, to acquire an "interest" in "relevant securities" of theCompany, 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 "relevantsecurities" of the Company by the Company, or by any of its respective "associates", must be disclosed by no later than 12.00 noon (London time) on theLondon 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 at http://www.thetakeoverpanel.org.uk/new/. "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. Notes to editors: Dawnay Shore Hotels Dawnay Shore Hotels was established in 2004 by Dawnay, Day and Shore Capital,and currently owns a portfolio of 20 four star regional hotels in the UnitedKingdom. Dawnay Shore Hotels now operates under the Paramount brand ofdistinction and has also created a signature group of hotels. The portfolioincludes the world famous The Lygon Arms Hotel, a member of the Leading Hotelsof the World located in the Cotswolds; the prestigious Paramount Carlton Hotelin Edinburgh and the Paramount Oxford Hotel. Paramount hotels offer extensivebanqueting, conference and leisure facilities and many of them havearchitectural and historical significance. This information is provided by RNS The company news service from the London Stock Exchange