Offer Update

14 Jun 2007 09:50

Brian Kingham14 June 2007 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THEUNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN RNS ANNOUNCEMENT FOR IMMEDIATE RELEASE 14 JUNE 2007 Reliance Security Group plc ("Reliance" or "the Company") - Offer update Following the announcement of 17 April 2007, Brian Kingham announces thatsignificant progress has been made in the preparatory work ahead of a possibleoffer ("the Possible Offer") for the issued and to be issued share capital ofReliance. Furthermore, Brian Kingham announces that a company wholly owned by him (Oval(2136) Limited) has received an undertaking ("the Undertaking") from ArtemisInvestment Management Limited ("Artemis") relating to a holding of ordinaryshares in Reliance. The Undertaking imposes an obligation on Artemis to procure the acceptance ofthe Possible Offer, if made, provided that the Possible Offer will be at no lessthan 916 pence in cash for each Reliance share less any final dividend per sharedeclared in respect of the Reliance financial year ended April 2007. Artemis Investment Management Limited has undertaken to procure the acceptanceof the Possible Offer in relation to 1,028,037 ordinary shares of 5 pence eachin the share capital of Reliance controlled by it, representing approximately4.8 per cent. of Reliance's entire issued share capital. The Undertaking will lapse if the Possible Offer is not announced before 31 July2007. Brian Kingham (or any entity wholly owned by Brian Kingham) reserves the rightto make an offer at a reduced level or on different terms with therecommendation of the Board of Reliance. This announcement does not constitute an announcement pursuant to Rule 2.5 ofthe City Code on Takeovers and Mergers and accordingly there can be no certaintythat an offer for Reliance will be made. Enquiries: Brian Kingham Tel: + (44) 207 730 9901 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 Reliance, all "dealings" in any "relevant securities" of Reliance(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 3.30pm (London time) on the London business day following the date of the relevanttransaction. This requirement will continue until the date on which the offerbecomes, or is declared, unconditional as to acceptances, lapses or is otherwisewithdrawn or on which the "offer period" otherwise ends. If two or more personsact together pursuant to an agreement or understanding, whether formal orinformal, to acquire an "interest" in "relevant securities" of Reliance, theywill 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 Reliance by the potential offeror or Reliance, 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 marksare defined in the Code, which can also be found on the Takeover Panel'swebsite. If you are in any doubt as to whether or not you are required todisclose a "dealing" under Rule 8, you should consult the Takeover Panel. This information is provided by RNS The company news service from the London Stock Exchange