Stmnt re Poss Offer for ICG

4 Apr 2007 09:00

One Fifty One plc04 April 2007 4 April 2007 Statement re Possible Offer Following a request from the Irish Takeover Panel to clarify their intentionswith regard to their interests in Irish Continental Group plc ("ICG"), DoyleGroup Limited and One Fifty One Capital Limited, a subsidiary of One Fifty Oneplc, (together "the Consortium") announce that they are in discussions regardinga possible offer to acquire the entire issued and to be issued share capital ofICG (the "Possible Offer"). It is currently envisaged that the Possible Offer, if made, would be at a levelof not less than €20.00 per ICG unit (each unit comprising one ordinary shareand three redeemable preference shares). The Consortium intends to seek, interalia, the consent of the Independent Board of ICG to undertake a confirmatorydue diligence exercise and thereafter, a recommendation from the IndependentDirectors of ICG that ICG shareholders accept the Possible Offer, if made. This announcement does not amount to a firm intention to make an offer and, atthis stage, there can be no certainty that an offer will be forthcoming, even ifthe above requirements are satisfied or waived. A further announcement will be made when appropriate. Contacts James MorrisseyFleishman-HillardTel: +353-1-6188433 Jim MiltonMurray ConsultantsTel: +353-1-4980300 The directors of Doyle Group Limited, One Fifty One plc and One Fifty OneCapital Limited accept responsibility for the information contained in thisannouncement. To the best of the knowledge and belief of each of these parties(who have taken all reasonable care to ensure such is the case) the informationcontained in this announcement is in accordance with the facts and does not omitanything likely to affect the import of such information. The holder of 1% or more of any relevant securities in ICG may from the date ofthis announcement have disclosure obligations under Rule 8.3 of the IrishTakeover Panel Act, 1997, Takeover Rules 2001 to 2005, as applied, withamendments by the European Communities (Takeover Bids (Directive 2004/25/EC))Regulations 2006. ENDS This information is provided by RNS The company news service from the London Stock Exchange