Statement re Mandatory Offer

 

TIDMDLD 
 
RNS Number : 2329Z 
Deutsche Land Plc 
17 September 2009 
 

Deutsche Land plc 
("Deutsche Land" or "Company") 
 
 
17 September 2009 
Statement re mandatory offer 
The Board of Deutsche Land has noted that Black Sea Global Properties Limited 
("BSGP") yesterday posted its offer document for Deutsche Land. 
 
 
After careful consideration and following discussion with its major 
shareholders, the Board of Deutsche Land is unable to recommend BSGP's offer of 
12p per share (the "Offer"). In particular, the Board notes that the Offer does 
not reflect any control premium over and above the 12p per share that BSGP paid 
when it acquired its minority stake in the Placing and Subscription that took 
place in June 2009. 
 
 
The Board is preparing a detailed response to the Offer and will post this to 
shareholders as soon as is practicable. 
 
 
Dealing Disclosure Requirements 
 
 
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, 
"interested" (directly or indirectly) in 1% or more of any class of "relevant 
securities" of Deutsche Land, 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 3.30 pm (London time) on the London business day following the date 
of the relevant transaction. This requirement will continue until the date on 
which the 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or is otherwise withdrawn or on which the "offer period" otherwise ends.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 
Deutsche Land, 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 Deutsche Land by the offeror or Deutsche Land, 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 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 on telephone number [phone] 
or fax number [phone]. 
 
 
+--------------------------------------------+---------------------+ 
| Deutsche Land plc                          |                     | 
+--------------------------------------------+---------------------+ 
| Stephen Dickinson (Chairman)               |     [phone] | 
| David Maxwell (Chief Executive)            |                9670 | 
+--------------------------------------------+---------------------+ 
|                                            |                     | 
+--------------------------------------------+---------------------+ 
| SP Angel Corporate Finance LLP             |                     | 
+--------------------------------------------+---------------------+ 
| John Mackay                                |     [phone] | 
|                                            |                9650 | 
+--------------------------------------------+---------------------+ 
| David Facey                                |                     | 
+--------------------------------------------+---------------------+ 
|                                            |                     | 
+--------------------------------------------+---------------------+ 
| Matrix Corporate Capital LLP               |                     | 
+--------------------------------------------+---------------------+ 
| Stephen Mischler                           |     [phone] | 
|                                            |                7000 | 
+--------------------------------------------+---------------------+ 
|                                            |                     | 
+--------------------------------------------+---------------------+ 
| Citigate Dewe Rogerson                     |                     | 
+--------------------------------------------+---------------------+ 
| George Cazenove                            |     [phone] | 
| Hannah Seward                              |                9571 | 
+--------------------------------------------+---------------------+ 
 
 
 
 
 
 
Notices 
 
 
This announcement has been issued by Deutsche Land and is the sole 
responsibility of Deutsche Land. 
 
 
SP Angel is acting for Deutsche Land and no-one else in connection with the 
offer. SP Angel will not be responsible to anyone other than Deutsche Land for 
providing the protections afforded to its clients, nor for providing advice in 
relation to the Offer or any other matter referred to in this announcement. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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