Response to offer

 

TIDMHMF 
 
RNS Number : 3772L 
Handmade PLC 
05 May 2010 
 

5 May 2010 
                                  Handmade PLC 
                          ("Handmade" or the "Company") 
                              OFFER FOR THE COMPANY 
The Company (AIM:HMF) has noted the announcement of the 29th April 2010 by 
Almorah Services Limited ("Almorah") of a mandatory offer pursuant to the City 
Code on Takeovers and Mergers to acquire all the issued share capital of 
Handmade not already owned by it and an offer to acquire the convertible loan 
notes issued by Handmade (the "CLN Offer") . 
Handmade will review the announcement and the terms and conditions of the 
mandatory offer and the CLN Offer, and a response will be made by the Board in 
due course. 
Handmade PLC 
Bob Benton, Chairman 
                                       020 7518 8230 
IBIS Capital 
David Brooks/Toby Ramsden 
                                   020 7070 7080 
Canaccord Adams Limited 
Mark Williams/Andrew Chubb 
                                    020 7050 6500 
 
IBIS Capital ("IBIS") (which is regulated in the United Kingdom by the Financial 
Services Authority) is acting exclusively for Handmade as financial adviser and 
no one else (including the recipients of this announcement) in connection with 
the arrangements that are the subject matter of this announcement and will not 
be responsible to anyone other than Handmade for providing the protections 
afforded to customers of IBIS or for advising any other person in connection 
with the arrangements that are the subject matter of this announcement. 
Canaccord Adams Limited ("Canaccord") (which is regulated in the United Kingdom 
by the Financial Services Authority) is acting exclusively for Handmade as 
nominated adviser and broker and no one else (including the recipients of this 
announcement) in connection with the arrangements that are the subject matter of 
this announcement and will not be responsible to anyone other than Handmade for 
providing the protections afforded to customers of Canaccord or for advising any 
other person in connection with the arrangements that are the subject matter of 
this announcement. 
Neither IBIS nor Canaccord makes any representation, express or implied, with 
respect to the accuracy or completeness of any information contained in this 
announcement and accept no responsibility for, nor does either firm authorise, 
the contents of, or the issue of this announcement, or any other statement made 
or purported to be made by Handmade, or on its behalf, in connection with 
Handmade or any of the other arrangements that are the subject matter of this 
announcement and, accordingly, each disclaims all and any liability whatsoever 
whether arising out of tort, contract or otherwise which they might otherwise 
have in respect of this announcement or any other statement. 
The release, publication or distribution of this announcement in jurisdictions 
other than the United Kingdom may be subject restricted by law and therefore 
persons into whose possession this announcement comes should inform themselves 
about, and observe such restrictions. Any failure to comply with the 
restrictions may constitute a violation of the securities laws of any such 
jurisdiction. The announcement has been prepared in accordance with English law 
and the Code and information disclosed may not be the same as that which would 
have been prepared in accordance with the laws of jurisdictions outside England. 
Disclosure requirements of the Code 
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any 
class of relevant securities of an offeree company or of any paper offeror 
(being any offeror other than an offeror in respect of which it has been 
announced that its offer is, or is likely to be, solely in cash) must make an 
Opening Position Disclosure following the commencement of the offer period and, 
if later, following the announcement in which any paper offeror is first 
identified. An Opening Position Disclosure must contain details of the person's 
interests and short positions in, and rights to subscribe for, any relevant 
securities of each of (i) the offeree company and (ii) any paper offeror(s). An 
Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made 
by no later than 3.30 pm (London time) on the 10th business day following the 
commencement of the offer period and, if appropriate, by no later than 3.30 pm 
(London time) on the 10th business day following the announcement in which any 
paper offeror is first identified. 
Relevant persons who deal in the relevant securities of the offeree company or 
of a paper offeror prior to the deadline for making an Opening Position 
Disclosure must instead make a Dealing Disclosure. Under Rule 8.3(b) of the 
Code, any person who is, or becomes, interested in 1% or more of any class of 
relevant securities of the offeree company or of any paper offeror must make a 
Dealing Disclosure if the person deals in any relevant securities of the offeree 
company or of any paper offeror. A Dealing Disclosure must contain details of 
the dealing concerned and of the person's interests and short positions in, and 
rights to subscribe for, any relevant securities of each of (i) the offeree 
company and (ii) any paper offeror, save to the extent that these details have 
previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom 
Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the 
business day following the date of the relevant dealing. 
If two or more persons act together pursuant to an agreement or understanding, 
whether formal or informal, to acquire or control an interest in relevant 
securities of an offeree company or a paper offeror, they will be deemed to be a 
single person for the purpose of Rule 8.3. 
Opening Position Disclosures must also be made by the offeree company and by any 
offeror and Dealing Disclosures must also be made by the offeree company, by any 
offeror and by any persons acting in concert with any of them (see Rules 8.1, 
8.2 and 8.4). Details of the offeree and offeror companies in respect of whose 
relevant securities Opening Position Disclosures and Dealing Disclosures must be 
made can be found in the Disclosure Table on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk, including details of the number of relevant 
securities in issue, when the offer period commenced and when any offeror was 
first identified. If you are in any doubt as to whether you are required to make 
an Opening Position Disclosure or a Dealing Disclosure, you should contact the 
Panel's Market Surveillance Unit on [phone]. 
Please note that any address, electronic address and certain other information 
provided for the receipt of communications from the offeree company may be 
provided to an offeror during the offer period as required under Section 4 of 
Appendix 4 of the Code. 
'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. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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