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19 Dec 2008 17:03
Blue Oar Plc
("Blue Oar" or the "Company")
Statement Re: WH Ireland Plc
The board of Blue Oar notes the announcement by WH Ireland Plc that it is considering a possible offer to be made by WH Ireland Plc to acquire the entire issued and to be issued share capital of Blue Oar.
The Company advises shareholders to take no action in relation to this possible offer.
The Company continues to advise shareholders to ignore the Evolve offer.
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 the Company, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends.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 the Company, 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 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 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 Takeover Panel's website at www.thetakeoverpanel.org.uk.
'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.
For further information please contact:
Andrew Monk Tel: 020 7448 4400
Blue Oar Plc
James Britton / Nicholas Marren Tel: 020 7418 8900
KBC Peel Hunt Ltd
Reg Hoare/Andrew Wilde Tel: 020 7360 4900
Smithfield
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the Company confirms that it has 166,550,031 Ordinary Shares of 1p each in issue and admitted to trading on the London Stock Exchange under UK ISIN code GB0031792194.
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