MWB Business Exchange Plc Clarification re term of Marketing Period (3991U)
27 Dezembro 2012 - 1:00PM
UK Regulatory
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RNS Number : 3991U
MWB Business Exchange Plc
27 December 2012
27 December 2012
MWB Business Exchange Plc ("BX")
Clarification re term of Marketing Period
Within its statement released on 21 December 2012, responding to
earlier statements by Regus plc and by the Joint Administrators on
behalf of MWB Group Holdings Plc (in administration), the Board of
BX made reference to the Marketing Period under the sale process
being conducted by the Joint Administrators on behalf of MWB. BX
announces that the Marketing Period will run until 14 February 2013
and not 16 February 2013 as stated within its previous
announcement.
The Board of BX emphasises that the sale process may or may not
result in the receipt of a higher offer for the BX Shares than the
Regus Offer; and that, even if the sale process does not result in
a higher offer for the BX Shares than the Regus Offer, that Regus
is bound by its announcement to proceed with the Regus Offer in any
event.
The Board of BX will update shareholders of BX shortly
concerning the Regus Offer and any further developments. In the
meantime, the Board of BX encourages minority shareholders in BX to
take no action and to await further developments
Ends
Contacts
MWB Business Exchange Plc
John Spencer Chief Executive 020 7868 7268
Andrew Blurton, Corporate Finance Director 020 7868 7321
Nplus1 Singer Advisory LLP 020 7496 3000
Sandy Fraser
Baron Philips Associates 020 7920 3161
Baron Philips
Definitions
Defined Terms used in this announcement, unless otherwise
specified, have the meanings ascribed to them within the
announcement of the Regus Offer and/or the statement by the Joint
Administrators on behalf of MWB released on 21 December 2012.
Disclosure requirements of the Takeover Code (the "Code")
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of an offeree
company or of any paper offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer
is, or is likely to be, solely in cash) must make an Opening
Position Disclosure following the commencement of the offer period
and, if later, following the announcement in which any paper
offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in,
and rights to subscribe for, any relevant securities of each of (i)
the offeree company and (ii) any paper offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies must be
made by no later than 3.30 pm (London time) on the 10th business
day following the commencement of the offer period and, if
appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any paper offeror
is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a paper offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any paper offeror must make a Dealing
Disclosure if the person deals in any relevant securities of the
offeree company or of any paper offeror. A Dealing Disclosure must
contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
paper offeror, save to the extent that these details have
previously been disclosed under Rule 8. A Dealing Disclosure by a
person to whom Rule 8.3(b) applies must be made by no later than
3.30 pm (London time) on the business day following the date of the
relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a paper
offeror, they will be deemed to be a single person for the purpose
of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
N+1 Singer Advisory LLP ("N+1 Singer"), which is authorised and
regulated by the FSA, is acting exclusively for BX and no one else
in connection with the Regus Offer and will not be responsible to
anyone other than BX for providing the protections afforded to
clients of N+1 Singer or for providing advice in relation to the
Regus Offer or this announcement or any other matters referred to
in this announcement.
Publication on Website
A copy of this announcement will be available on the website of
the Company at www.mwbex.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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