Clarification Announcement

28 Sep 2005 08:35

Torex Retail PLC28 September 2005 Torex Retail plc (the "Company") Clarification Announcement Further to the Company's interim results announced yesterday, the Board wishesto clarify the intentions of Rob Loosemore as regards his holding of 28,124,999ordinary shares of 1p each ("Ordinary Shares"), representing 8.72 per cent. ofthe Company's issued ordinary share capital. The Board confirms that Rob Loosemore, who remains wholly supportive of theCompany's stated strategy, has no present intention of selling any of theOrdinary Shares held by him. As a measure of his support he has entered into anextended formal lock-in agreement, the terms of which are as follows: • He will not be able to sell any Ordinary Shares until after the publication of the final results for the financial year ended 31 December 2005 • He will only be able to sell up to 15 per cent. of his holding of Ordinary Shares between the publication of the final results for the financial year ended 31 December 2005 and the publication of the final results for the financial year ended 31 December 2006 • He will only be able to sell up to 15 per cent. of his holding of Ordinary Shares between the publication of the final results for the financial year ended 31 December 2006 and the publication of the interim results for the financial period ended 30 June 2007 • Thereafter, and throughout the preceding period, any sale must be made through a broker approved by the Company in order to maintain an orderly market in the Company's Ordinary Shares These arrangements are in a standard legal form and subject to certain limitedand common exceptions. 28 September 2005 This information is provided by RNS The company news service from the London Stock Exchange