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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Corin Group Rfd | LSE:CRGR | London | Ordinary Share | GB00B013HD92 | ORD 2.5P (RFD 01/01/04) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 6330n CRAIG & ROSE PLC 6 August 1999 CRAIG & ROSE PLC The following is the text of a communication that has been sent to stockholders. (1) Letter from the Chairman of Craig & Rose Directors: John W Wightman (Chairman) 5 August 1999 Alaster Cunningham Colin M Mitchell-Rose Jeremy J U Hayward To the Ordinary and Preference Stockholders Dear Stockholder Since my last letter to you Mr Perloff has visited the company and been given all the information he requested. As a result I am given to understand that Mr Perloff does not intend to make a general bid for the stock of your company and in light of this my advice in the previous letter to take no further action is withdrawn. I am advised that acceptances have been received by Mr Alaster Cunningham in respect of 4.64% of ordinary stock and 49.53% of preference stock. The aggregate holdings of Mr Cunningham and those acting in concert with him are now 58.08% of the ordinary stock units. Mr Cunningham has intimated to the Board and Stock Exchange that he is closing his Offers of #1.35 per unit ordinary stock and #1.00 per unit of preference stock on 26 August 1999. He has indicated that if, after the Offers are closed, his holdings continue at the present level, he is legally prohibited from acquiring further ordinary stock units without making a further formal bid with all the attendant regulatory costs. This would be unattractive to him and he is therefore asking any stockholders who may wish to realise their stock units to accept the Offers now. In the absence of any offer from Mr Perloff, Bell Lawrie Wise Speke has written to the Board re-affirming its recommendation of 14 July 1999. A copy of this letter is enclosed. Yours faithfully John W Wightman Chairman (2) Additional Information 1. Bell Lawrie Wise Speke has given and not withdrawn its written consent to the issue of this document with the inclusion herein of its recommendation and the references to its name in the form and context in which they appear. 2. A copy of Bell Lawrie Wise Speke's letter of consent referred to in (i) above will be available for inspection during normal business hours on any weekday (Saturdays and public holidays excepted) at the offices of Dickson Minto WS, at 11 Walker street, Edinburgh EH3 7NE and at Royal London House, 22/25 Finsbury Square, London EC1A 1DS throughout the period during which the Offers remain open for acceptance. 3. Other than:- * as specified in this letter in relation to (i) Mr Cunningham's intention to close the Offers on 26 August 1999 and (ii) the holdings of Mr Cunningham and those acting in concert with him; and * in respect of the price of the Company's ordinary stock, the middle market price of which (derived from the Official List of the London Stock Exchange as at close of business on 5 August) was 150p and the "SEATS" middle market price (derived from a quotation for the highest buying price of 112p and the lowest selling price of 185p at close of business on 5 August 1999) of which was 148.5p. there have been no material changes in the information published in the Offer Document. (3) Letter from Bell Lawrie Wise Speke The Board of Directors 5 August 1999 Craig & Rose plc 172 Leith Walk Edinburgh EH6 5EB Dear Sirs Cash Offers for Craig & Rose Stock by Alaster Cunningham (the "Offers") On 23 July 1999, the Chairman of Craig & Rose wrote to stockholders informing them of the approach from Mr Andrew Perloff and advising that they took no action meantime with regard to the above Offers. Mr Perloff has now announced that he will not proceed with an Offer to stockholders and the Chairman's advice is now withdrawn. This is to confirm to you that, in these circumstances, we remain of the view that the Offers from Alaster Cunningham are fair and reasonable and that holders of the ordinary and preference stock to which the Offers relate, should, in the absence of higher Offers, accept the Offers. In providing this advice, we have continued to take into account, inter alia, the factors set out in the document sent to stockholders on 14 July 1999 and the continuing commercial assessment of the Board of Craig & Rose. In giving advice, Bell Lawrie Wise Speke is advising the Board of Craig & Rose in relation to the Offers and is not acting for any of the members of the Board of Craig & Rose in their personal capacities nor for any Craig & Rose stockholders in relation to the Offers. Bell Lawrie Wise Speke will not be responsible to any such person for providing the protection afforded to its clients or advising any such person in relation to the Offers. In particular, Bell Lawrie Wise Speke will not owe any duties or responsibilities to any particular Craig & Rose stockholder concerning the Offers. Accordingly, when considering what action Craig & Rose stockholders should take, they are strongly recommended to seek their own personal financial advice from an independent financial adviser authorised under the Financial Services Act 1986. Yours faithfully for and behalf of Bell Lawrie Wise Speke (a division of Brewin Dolphin Securities Limited) F.K. Malcolm Director END OFFCCPCQFDKDOFK
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