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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 8630a CRAIG & ROSE PLC 22 July 1999 CRAIG & ROSE PLC ("Craig & Rose" or "the Company") Possible offer by A S Perloff Esq On 14th July, 1999 it was announced that Mr Alaster Cunningham, a director of Craig & Rose had made recommended mandatory offers for all the issued Ordinary Stock that he does not already own at a price of 135p per stock unit and for all the Preference Stock of the Company at a price of 100p per stock unit. At the time of the publication of the offer document, Alaster Cunningham owned 30.3 per cent. of Craig & Rose's existing issued ordinary capital. Certain other Craig & Rose stockholders, who are considered to be acting in concert with Alaster Cunningham for the purposes of the City Code, own 23.2 per cent. of Craig & Rose's existing issued ordinary capital. Accordingly, the Concert Party hold in excess of 50 per cent. of the issued ordinary capital of the Company and the Offers are fully unconditional. Andrew Perloff announces that he intends to approach the Board of Craig & Rose and Bell Lawrie Wise Speke, the independent financial adviser to the Board of Craig & Rose, to seek discussions with them and the other members of the Concert Party to ascertain whether cash offers of 180p per Ordinary Stock unit and 100p per Preference Stock unit would be recommended by Bell Lawrie Wise Speke and undertakings to accept such an offer would be received from sufficient Ordinary Stockholders to allow an acceptance condition of 50 per cent. of the issued ordinary stock to be satisfied. If such offers were to be made, the earliest date that they could be made would be the day after the current mandatory offers made by Alaster Cunningham close, which would be 19th August, 1999 at the earliest. Andrew Perloff intends to discuss with Alaster Cunningham and the Rose family the possibility of Craig & Rose disposing of the paint business to some or all of the members of the Concert Party at a fair and reasonable price, although the sale of such business is not a pre-condition of the making of any offer. If such a disposal were to be contemplated, under the Rules of the City Code, Bell Lawrie Wise Speke, as independent adviser to the Board of Craig & Rose, would be required to confirm that in its opinion the terms of the transaction are fair and reasonable and the transaction would have to be approved at a general meeting of Craig & Rose. Andrew Perloff has agreed with the Panel on Takeovers and Mergers to seek to enter into discussions with the relevant parties immediately and to announce the outcome of the discussions as soon as possible. As the Offers by Alaster Cunningham are unconditional, any acceptances are irrevocable and not capable of being withdrawn. Accordingly, Ordinary Stockholders and Preference Stockholders are urged not to accept the Offers until the conclusion of the above mentioned discussions. Enquiries Andrew Perloff 0171 278 8011 John East & Partners David Worlidge 0171 628 2200 Andrew Perloff accepts responsibility for the information contained in this announcement. To the best of his knowledge and belief (having taken all reasonable care to ensure that this is the case) such information for which he accepts responsibility in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. John East & Partners Limited of Crystal Gate, 28-30 Worship Street, London EC2A 2AH, has approved this announcement as an investment advertisement solely for the purposes of Section 57 of the Financial Services Act 1986. John East & Partners Limited is regulated by The Securities and Futures Authority Limited. END OFFQLFFLKDKXBKB
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