Rule 2.10 Announcement
January 21 2008 - 6:48AM
UK Regulatory
RNS Number:1866M
Entertainment Rights PLC
21 January 2008
Entertainment Rights PLC
('ER' or the 'Company')
Response to share price movement
The Board of ER notes the recent press speculation and the movement in the
Company's share price and confirms it is in preliminary talks which may or may
not lead to an offer being made for the Company.
There can be no certainty that an offer will be made for the Company or the
terms on which such an offer may be made.
Further announcements will be made as appropriate.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers,
Entertainment Rights PLC confirms that, as at
the close of business on 18 January 2008, the Company had 732,537,145 ordinary
shares of 5 pence each in issue, under the ISIN code GB000813884 .
Enquiries:
Entertainment Rights PLC Tel: +44 (0) 20 8762 6200
Mike Heap, Chief Executive Officer
Elizabeth Gaines, Chief Finance & Operations Director
Altium Capital Limited Tel: +44 (0) 20 7484 4040
Phil Adams
Tim Richardson
Bell Pottinger Corporate and Financial Tel: +44 (0) 20 7861 3232
David Rydell
Amy Rajendran
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in
1% or more of any class of 'relevant securities' of the Company, all 'dealings'
in any 'relevant securities' of the 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 3.30pm (London time) on the London
business day following the date of the relevant transaction. This requirement
will continue until the date on which any 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unconditional as to acceptances, lapses or is otherwise withdrawn or on which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 the Company, 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 the Company by an offeror or the Company, 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 a 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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