Stmnt re Share Price Movement
July 08 2005 - 8:39AM
UK Regulatory
RNS Number:6770O
Conister Trust PLC
08 July 2005
Conister Trust Plc
Re: Press Speculation and share price movement
The Board of Conister Trust, the Isle of Man Bank, notes the press speculation
this morning and the recent rise in its share price. It confirms that prior to
Fidecs Nominees Limited acquiring its 23.52 per cent. stake, announced on 6 July
2005, the Company had received approaches from a number of parties regarding a
range of options including interest in making a significant investment in the
Company, the acquisition of a majority stake in the Company and a potential
offer for the whole Company.
The directors believe that the interest in the Company reflects the Company's
recent improved results and the inherent value of its banking licence in a well
regulated low tax jurisdiction.
Following the 6 July 2005 announcement of the change in significant shareholder
it is unclear at present whether or not any of the approaches made will lead
either to a significant investment in the Company, the acquisition of the
majority stake in the company or an offer being made for the Company. However
the Company will be holding discussions with the interested parties and its new
shareholder to discuss the best way forward for the Company and will make a
further announcement in due course.
Shareholders are advised to await further information before taking any action.
8 July 2005
Enquires
Peter Hammonds/Gareth Jones 01624 694688 / 664
Conister Trust
Adam Hart 020 7418 8900
KBC Peel Hunt
James Henderson/ Charles Vivian 020 7743 6670
Pelham Public Relations
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"City Code"), any person who, alone or acting together with any other person(s)
pursuant to an agreement or understanding (whether formal or informal) to
acquire or control relevant securities of Conister Trust, owns or controls, or
becomes the owner or controller, directly or indirectly, of one per cent. or
more of any class of securities of Conister Trust is required to disclose, by
not later than 12.00 noon (London time) on the London business day following the
date of the relevant transaction, dealings in such securities of that company
(or in any option in respect of, or derivative referenced to, any such
securities) during the period to the date on which the offer becomes or is
declared unconditional as to acceptances or lapses or is otherwise withdrawn.
Under the provisions of Rule 8.1 of the City Code, all dealings in relevant
securities of Conister Trust by any potential offeror, or by any "associates"
(within the meaning of the City Code) of Conister Trust or potential offeror
must also be disclosed.
If you are in any doubt as to the application of Rule 8 to you, please contact
an independent financial adviser authorised under the Financial Services and
Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or
contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013."
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Conister
Trust confirms that it currently has in issue 28,352,798 ordinary shares of 25 p
each. The International Securities Identification Number for the ordinary shares
is GB0002160678.
The Directors of Conister Trust accept responsibility for the information
contained in this announcement. To the best of the knowledge and belief of the
Directors of Conister Trust, who have taken all reasonable care to ensure that
this is the case, such information is in accordance with the facts and does not
omit anything likely to affect the import of such information. This announcement
does not constitute an offer or invitation to purchase or subscribe for any
securities.
KBC Peel Hunt Ltd, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for Conister Trust and
for no one else in connection with the proposed offer and is not advising any
other person or treating any other person as its client in relation thereto and
will not be responsible to anyone other than Winchester plc for providing the
protections afforded to clients of KBC Peel Hunt Ltd, or for giving advice to
any other person in relation to the proposed offer, the contents of this
announcement or any other matter referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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