Put up or Shut up deadline

14 Sep 2005 15:42

Takeover Panel14 September 2005 2005/36 RENTOKIL INITIAL PLC ("RENTOKIL") RAPHOE MANAGEMENT LIMITED ("RAPHOE") Following recent representations made by the advisers to Rentokil, the PanelExecutive has been considering the application of Rule 2.4(b) of the Code to theannouncements made by Raphoe stating the possibility of Raphoe making an offerfor Rentokil. Following discussions with both parties' advisers, the PanelExecutive has ruled that Raphoe must, by 12.00 noon on 17 October 2005, eitherannounce a firm intention to make an offer for Rentokil under Rule 2.5 of theCode or announce that it does not intend to make an offer for Rentokil. Noextension to this deadline will be granted, except with the consent of the PanelExecutive. In the event that Raphoe announces that it does not intend to makean offer for Rentokil, Raphoe and any person acting in concert with it will,except with the consent of the Panel Executive, be bound by the restrictionscontained in Rule 2.8 of the Code for six months from the date of suchannouncement. Each of the parties has accepted this ruling. 14 September 2005 This information is provided by RNS The company news service from the London Stock Exchange