WLG.L Regulatory News (WLG)

28 Feb 2007 17:10

UTV PLC28 February 2007 UTV plc 28 February 2007 MERGER DISCUSSIONS WITH SMG PLC TERMINATED The Board of UTV plc ("UTV") notes the announcement made by SMG plc ("SMG") andconfirms that discussions in relation to the proposed merger of UTV and SMG haveterminated. In the process of conducting due diligence on SMG, UTV had identified certainconcerns, including SMG's pension deficit. UTV made these concerns known to SMGand made it clear to SMG that UTV wished to either review the terms of itsoriginal proposal or to withdraw its proposal. As a consequence of this statement, the City Code on Takeovers and Mergersprohibits UTV from, inter alia, announcing an offer or possible offer for SMGwithin six months of today's date unless there is a material change ofcircumstances or there has occurred an event which UTV has specified in thisstatement as an event which would enable the statement to be put aside.Accordingly, UTV reserves the right to announce an offer or possible offer forSMG and/or to take any other action which would otherwise be restricted underRule 2.8 of the City Code within six months of the date of this statement: (i) with the agreement or recommendation from the board of SMG; or (ii) if there is an announcement by a third party of an offer (as defined in the City Code) for SMG; or (iii) if SMG announces a "whitewash" proposal (as described in Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover. Press enquiries: UTV plcJohn McCann, Group Chief Executive Tel: +44 (0)28 9026 2202 Felicity Templeton, Head of Press and PR Tel: +44 (0)28 9026 2188 Numis Securities LimitedJag Mundi, Head of Corporate Finance Tel: +44 (0)20 7776 1582Nick Westlake, Corporate Finance PowerscourtRory Godson, Director Tel: +44 (0)20 7236 5615Victoria Brough, Director Numis Securities Limited, which is authorised and regulated by the FinancialServices Authority, is acting exclusively for UTV and for no-one else inconnection with the matters referred to in this announcement and will not beresponsible to anyone other than UTV for providing the protections afforded tocustomers of Numis Securities Limited nor for giving advice in relation to thematters referred to in this announcement. This information is provided by RNS The company news service from the London Stock Exchange