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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Goldshield Grp | LSE:GSD | London | Ordinary Share | GB0002893823 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 486.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGSD RNS Number : 4722Z Goldshield Group plc 22 September 2009 Statement by Independent Directors regarding recent press speculation surrounding Goldshield Group plc The Independent Directors have noted the press speculation concerning the position of the management team of Goldshield ("Management Team") in regard to offers for the Company and, in particular, a suggestion that the recommended cash offer from AIT Investments Limited ("AIT") at 440p per share, announced on 18 September 2009, undervalues the Company. In January 2009, the Management Team made an unsolicited approach to the Board of Goldshield regarding their interest in exploring a possible offer for the Company. The Board created the Committee of Independent Directors to consider this approach, which gave its consent for the Management Team to progress its proposal. Conditional proposals were received by the Independent Directors from the Management Team at prices which the Independent Directors did not consider were capable of being recommended to shareholders. Early in July, the Management Team made a conditional proposal to acquire the Company, at a price below 440p, which the Independent Directors considered was capable of being recommended to shareholders. Accordingly, the Independent Directors permitted the Management Team to pursue this proposal. Discussions have continued with the Management Team since that time in relation to their proposal, which has remained at a price below 440p. The Independent Directors have noted that the Management Team are continuing to investigate the possibility of making an offer for the Company. Shareholders should be aware that there is no certainty that any offer will be made nor what the terms and conditions of such an offer might be. Further information: Gleacher Shacklock LLP Kieran Murphy Angus Russell Tel: 020 7484 1150 Numis Securities Ltd Michael Meade Oliver Cardigan Tel: 020 7260 1000 City Profile Group Jonathan Gillen William Attwell Tel: 020 7448 3244 Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of the Company all "dealings" in any "relevant securities" of the 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 the Company, 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 the Company by AIT or any other potential offeror or the Company, 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. Gleacher Shacklock, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company and no one else in connection with any offer and will not be responsible to anyone other than Company for providing the protections afforded to clients of Gleacher Shacklock or for providing advice in relation to any offer or for the contents of this announcement. Numis Securities, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company and no one else in connection with any offer and will not be responsible to anyone other than Company for providing the protections afforded to clients of Numis Securities or for providing advice in relation to any offer or for the contents of this announcement. This information is provided by RNS The company news service from the London Stock Exchange END SPCLLLFLKKBEBBE
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