AMBR Ambrian

    RNS Number : 6823J
  Ambrian Capital PLC
  08 December 2008
   

    Ambrian Capital plc / Panmure Gordon & Co. plc
    (the "Companies")

    Joint announcement re press comment

    The respective boards of Ambrian Capital plc ("Ambrian") and Panmure Gordon & Co. plc ("Panmure Gordon") (together the "Boards") note
the recent press speculation surrounding a possible transaction between the Companies. The Boards wish to confirm that they have had
discussions about a possible combination of Ambrian and Panmure Gordon which may lead either to an offer by Ambrian to acquire the entire
share capital of Panmure Gordon or to Panmure Gordon making an offer to acquire Ambrian. The Boards are evaluating the position with their
respective advisers and will make a further announcement in due course. Discussions are at a preliminary stage and there can be no
assurances that an offer will be made, nor as to the terms on which any offer may be made.

    8 December 2008

    Enquiries:

 Evercore Partners (Financial Adviser to Ambrian Capital   44 (0) 20 7268 2757
 plc) 
 Anthony Swift/Neal Shah

 ING Bank N.V Dr. Mark Garrood                            +44 (0) 20 7767 1000
 (Financial Adviser to Panmure Gordon & Co. plc)

 Collins Stewart Europe Limited (NOMAD to Ambrian         +44 (0) 20 7523 8350
 Capital plc)
 Mark Connelly

 Grant Thornton UK LLP (NOMAD to Panmure Gordon & Co.     +44 (0) 20 7383 5100
 plc)
 Gerry Beaney/Fiona Kindness


    Rule 2.10 information

    In accordance with Rule 2.10 of The City Code on Takeovers and Mergers, Ambrian plc confirms that, as at the close of business on 5
December 2008, its issued share capital consisted of 106,986,208 ordinary shares of 10 pence each.

    The ISIN reference number for these securities is GB0003763140.

    In accordance with Rule 2.10 of The City Code on Takeovers and Mergers, Panmure Gordon plc confirms that, as at the close of business on
5 December 2008, its issued share capital consisted of 75,698,381 ordinary shares of 4 pence each.

    The ISIN reference number for these securities is GB0032087933.

    Dealing Disclosure Requirements

    Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly)
in 1% or more of any class of "relevant securities" of Ambrian or of Panmure Gordon, all "dealings" in any "relevant securities" of that
company (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 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement
will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn
or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal
or informal, to acquire an "interest" in "relevant securities" of Ambrian or Panmure Gordon, they will 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 "relevant securities" of Ambrian or of Panmure Gordon by Ambrian or
Panmure Gordon , or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London
business day following the date of the relevant transaction.

    A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of
such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

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