GHL Gresham Hotel

RNS Number:1375V
Gresham Hotel Group Plc
06 February 2004



                            Gresham Hotel Group plc

                             Statement Re Approach



Further to announcements made on 22nd December 2003 and 16th January 2004and
the announcement made by the Irish Takeover Panel on 30th January 2004, the
board of Gresham Hotel Group plc ("Gresham" or "the Board") announces that it
has agreed to progress discussions with a consortium of investors on its revised
approach for Gresham.



The revised approach is at an increased level of Euro1.45 per share and if an offer
is made it will be conditional on receiving at least 80% acceptances.  The
revised approach is preconditional inter alia on completion of a satisfactory
due diligence exercise and it is anticipated that this will commence next week.
The Board and the consortium of investors are in discussions with a view to
announcing a firm intention to make an offer by the week commencing 22nd March
2004.



The Irish Takeover Panel announced on 30th January 2004 an extension of the
deadline until 5.00 p.m. today by which time the consortium of investors was
required to either announce an offer for Gresham under Rule 2.5 of the Takeover
Rules or announce that it will not proceed with an offer for Gresham.  Following
a request from the board of Gresham and having regard to the ongoing discussions
between Gresham and the consortium of investors, the Panel has agreed that this
deadline is no longer appropriate and should therefore no longer apply.


The revised approach does not constitute a firm intention to make an offer and, 
therefore, there can be no certainty that an offer will result.



A holder of 1% or more of the shares of Gresham may have disclosure obligations
under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2001,
effective from the date of this announcement.



Enquiries:


Mon O'Driscoll       Managing Director, AIB Corporate Finance     Tel: + 353 1 667 0233

Mr. Patrick Coyle    Managing Director, Gresham Hotel Group plc   Tel: + 353 1 817 6209




AIB Corporate Finance Limited, which is regulated in Ireland by the Irish
Financial Services Regulatory Authority under the Investment Intermediaries Act
1995, is acting for Gresham and for no one else in relation to the matters
described in this announcement and will not be responsible to anyone other than
Gresham for providing the protections afforded to clients of AIB Corporate
Finance Limited or for providing advice in relation to the matters described in
this announcement.



This announcement does not constitute an offer or an invitation to purchase any
securities.



The Directors of Gresham accept responsibility for all the information contained
in this announcement.  To the best of the knowledge and belief of the Directors
of Gresham (who have each taken all reasonable care to ensure that such is the
case), the information contained in this announcement is in accordance with the
facts and does not contain anything likely to affect the import of such
information.







6th February 2004





ENDS






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

STRUNONRSSRURAR

Gresham Hotel (LSE:GHL)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Gresham Hotel (LSE:GHL)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024