Rule 8.3- Ardana Plc

RNS Number:0272R
Cheviot Asset Management Ltd
28 March 2008


                                                                        FORM 8.3


    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

              (Rule 8.3 of the City Code on Takeovers and Mergers)


1. KEY INFORMATION

Name of person dealing (Note 1)                              Cheviot Asset
                                                             Management

Company dealt in                                             Ardana Plc

Class of relevant security to which the dealings being       Ord
disclosed relate (Note 2)

Date of dealing                                              27 Mar 08


2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant
    security dealt in (Note 3)

                                             Long                 Short
                                             Number      (%)      Number   (%)
(1) Relevant securities                        970,230     1.48%       -     -
(2) Derivatives (other than options)                 -        -        -     -
(3) Options and agreements to purchase/sell          -        -        -     -
                                     Total     970,230     1.48%       -     -

(b) Interests and short positions in relevant securities of the company, other
    than the class dealt in (Note 3)

Class of relevant security:                     Long           Short
                                                Number  (%)    Number     (%)
(1) Relevant securities
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
                                        Total


(c) Rights to subscribe (Note 3)

Class of relevant security:                                   Details
n/a


3. DEALINGS (Note 4)


(a) Purchases and sales

Purchase/sale    Number of securities          Price per unit (Note 5)
Sale                                  153724                                19p
Buy                                   153274                                19p
Sale                                  135500                             20.75p
Buy                                   135500                              20.8p


(b) Derivatives transactions (other than options)

Product name, e.g. Long/short (Note Number of securities     Price per unit
CFD                6)               (Note 7)                 (Note 5)
n/a

(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

Product   Writing,     Number of        Exercise Type, e.g. Expiry Option
name,e.g. selling,     securities to    price    American,  date   moneypaid/
call      purchasing,  which the option          European          received per
option    varying etc. relates (Note 7)          etc.              unit (Note 5)
n/a



(ii) Exercising

Product name, e.g. call       Number of           Exercise price per unit (Note
option                        securities          5)
n/a


(d) Other dealings (including new securities) (Note 4)

Nature of transaction (Note 8)  Details  Price per unit (if applicable) (Note 5)
n/a


4. OTHER INFORMATION


Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any
derivative referred to on this form is referenced. If none, this should be
stated.


..............................................................................


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Is a Supplemental Form 8 attached? (Note 9) NO



Date of disclosure                                              28th March 2008
Contact name                                                    Stuart Everitt
Telephone number                                                0207 4385727
If a connected EFM, name of offeree/offeror with which          n/a
connected
If a connected EFM, state nature of connection (Note 10)        n/a

Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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