Ocean Finance Loans:
£14.50m
0.000p ()
69.50p
Blue Oar PLC
25 April 2008
Blue Oar plc ("Blue Oar")
Statement re possible offer
The Board of Blue Oar notes the announcement made today by W H Ireland Group plc
("W H Ireland") rejecting an unsolicited approach for the company.
Blue Oar confirms that it had made a preliminary approach to the Board of W H
Ireland on 21 April 2008 regarding a possible offer for W H Ireland.
The board of Blue Oar remains interested in pursuing a potential acquisition of
W H Ireland and accordingly continues to seek to meet with the board of WH
Ireland on an amicable basis.
Enquiries:
Andrew Monk/Chris Roberts Tel: 020 7448 4400
Blue Oar Plc
Richard Kauffer Tel: 020 7418 8900
KBC Peel Hunt Ltd
Reg Hoare/Andrew Wilde Tel: 020 7360 4900
Smithfield
Rule 2.10
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Blue Oar
confirms that, as at the close of business on 24 April 2008, it has 164,850,031
ordinary shares of 0.1 pence each in issue. The International Securities
Identification Number for the ordinary shares is GB0031792194.
Rule 8 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 Blue Oar or of W H Ireland,
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 3.30pm (London time)
on the London business day following the date of the relevant transaction. This
requirement will continue until the date on which an 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declared, unconditional as to acceptances, lapses or is otherwise withdrawn or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 Blue Oar or W H Ireland, 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 Blue Oar or W H Ireland by, Blue Oar or W H Ireland 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