Statement re: Mandatory Offer
10 September 2009 - 3:27AM
UK Regulatory
TIDMDLD
RNS Number : 8119Y
Deutsche Land Plc
09 September 2009
Deutsche Land plc
("Deutsche Land")
9 September 2009
Statement re mandatory offer
The Board of Deutsche Land has noted the announcement earlier today of the
mandatory cash offer to be made by Black Sea Global Properties Limited for
Deutsche Land (the "Offer").
The Board of Deutsche Land, together with its advisers, is considering the Offer
and will communicate its advice to shareholders as soon as practicable. Until
that time shareholders are advised to take no action in relation to the Offer.
For the purposes of Rule 2.10 of the Takeover Code (the "Code"), the Board of
Deutsche Land confirms that as at today's date there are 332,506,511 ordinary
shares of EUR0.01 each in issue (ISIN number GB00B10QQ280).
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,
"interested" (directly or indirectly) in 1% or more of any class of "relevant
securities" of Deutsche Land, 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or is otherwise withdrawn or on which the "offer period" otherwise ends.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
Deutsche Land, 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 Deutsche Land by the offeror or Deutsche Land, 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.
"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities. Terms in quotation marks
are defined in the Code, which can also be found on the Panel's website. If you
are in any doubt as to whether or not you are required to disclose a "dealing"
under Rule 8, you should consult the Panel on telephone number +44(0) 7638 0129
or fax number +44 (0)20 7236 7013.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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