Strategic Review/Offer Period

    RNS Number : 1830A
  Business Direct Group Plc
  30 July 2008
   

    Wednesday 30 July 2008

    BUSINESS DIRECT GROUP PLC 

    Strategic Review/Offer Period

    The Directors of Business Direct (AIM:BDG) have for some time been conducting a strategic review of the Group, including its future long
term funding. After due consideration, the Directors have now concluded that a sale of all or part of the Group is the most likely option to
secure this funding.

    The Directors have appointed BDO Stoy Hayward as financial adviser to assist with this specific process.

    A further announcement will be made when appropriate, but in the meantime, the Group continues to trade normally. 

    Accordingly, under the rules of the City Code on Takeovers and Mergers, Business Direct is now in an offer period. 

    In accordance with Rule 2.10 of the City Code, Business Direct confirms that as at the close of business on Tuesday 29 July 2008 its
issued share capital comprised 208,781,733 ordinary shares of 1p each.

    Business Direct's ordinary shares are traded on AIM, a market of the London Stock Exchange plc, with ISIN number GB00B02KK416.


    Enquiries: 
    

    Business Direct Group plc                                          01788 821 200 
    Paul Carvell (CEO) 
    Martin Wright (CFO) 

    Arden Partners (NOMAD and Broker)                      0121 423 8900 
    Steve Douglas 

    BDO Stoy Hayward (Financial Adviser)                     0121 352 6258
    Adrian Jones

    Bankside Consultants Limited                                     020 7367 8851
    Charles Ponsonby  


    Dealing disclosure requirements

    Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers, if any person is, or becomes, "interested" (directly or
indirectly) in 1 per cent. or more of any class of "relevant securities" of Business Direct, all "dealings" in any "relevant securities" of
Business Direct (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. 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 Business Direct, 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 City Code, all "dealings" in "relevant securities" of Business Direct 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 . If you are in any doubt as to the application of Rule 8, please
consult an independent financial adviser authorised under the Financial Services and Markets Act 2000 and/or consult the Takeover Panel on
telephone number [phone]; fax [phone].

    "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 City 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
 
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