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Dobbies clarifies speculation over Tesco/WCC battle

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Date: Tuesday 13 May 2008

LONDON (ShareCast) - Dobbies Garden Centres has issued a statement correcting press speculation that a court had been asked to order supermarket giant Tesco to buy West Coast Capital’s (WCC) shareholding in Dobbies.

Tesco and WCC, the vehicle of Scottish entrepreneur Sir Tom Hunter, are currently involved in a battle for control of the Midlothian-based garden centre chain. Tesco holds 65.5% in Dobbies while WCC owns 29%.

Responding to today’s press speculation, Dobbies said: “Some press reports refer to the court being asked to order Tesco Holdings Limited, the holder of approximately 65.5% of the company's shares, to buy WCC's shareholding.”

It continued: “The court is only considering whether or not to make an order to block the open offer. The court is not considering whether or not to make an order that Tesco Holdings buys WCC's shareholding in the company.”

WCC moved to block the open offer last week.

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