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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Latitude | LSE:LTR | London | Ordinary Share | GB0009587568 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 3095G Latitude Resources plc 21 October 2008 21 October 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. FOR IMMEDIATE RELEASE Latitude Resources plc ("Latitude" or the "Company") Response to mandatory offer The Board of Latitude notes the announcement made last night by Clos de Mesnil Limited of its intention to proceed with a mandatory offer under Rule 9 of the Takeover Code for the Company at a price of 4p per ordinary share of 1 p each ("Ordinary Shares") (the 'Offer'). Jonathan Rowland, a non-executive director of the Company, has a discretionary beneficial interest in a trust which has an interest in Clos de Mesnil Limited and the Board has therefore decided that Mr Rowland should not be involved in any discussions in relation to the Offer. The Independent Directors, who are in discussions with the Company's advisers, are considering their position and will advise Latitude's shareholders on what action to take in relation to the Offer in due course. Latitude shareholders are urged to take no action at this stage. In accordance with Rule 2.10 of the Takeover Code, as at 21 October 2008, Latitude has 269,525,377 Ordinary Shares in issue with International Securities Identification Number GB0009587568 and 12,600,000 unlisted options over Ordinary Shares with an exercise price of 5p. For further information please contact: Latitude Resources plc Martyn Konig (Chief Executive Officer) Phone: +44 (0) 20 7087 7971 Andrew Myers (Non-Executive Director) Fax: +44 (0) 20 7734 3870 Email: info@latituderesources.com Evolution Securities Limited Robert Collins/Neil Elliot Phone: +44 (0) 20 7071 4300 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 Latitude, all 'dealings' in any 'relevant securities' of that 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 Forum, they will be deemed to be a single person for the purpose of Rule 8.3. Under provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Latitude by the offeror, Latitude 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 prices 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 or 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. This information is provided by RNS The company news service from the London Stock Exchange END OUPKFLBLVBBBFBE
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