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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Range Cooker | LSE:RCC | London | Ordinary Share | GB0002182896 | ORD 0.5P |
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 Number:2783X Range Cooker Company PLC 14 June 2002 The Range Cooker Company PLC ("Range" or the "Company") Takeover talks update The Company announces that, further to the announcement made on 15 February 2002, discussions continue with a Mr Robin Russell and certain directors of the Company (backed by funds managed by Graphite Capital Management Limited (" Graphite" and, together, the "Potential Offeror")) which may or may not lead to an offer being made for the entire issued share capital of the Company. Mr John Armstrong (Chairman of the Company) and Mr Nigel Wray who own 68.1 per cent. and 5.5 per cent. respectively of the issued ordinary share capital of the Company, have entered into undertakings which, providing the Potential Offeror makes an offer at or around 20p per share before 13 August 2002 (the " Exclusivity Period"), commits them to enter into irrevocable undertakings (which would be binding even in the event of a higher offer) to accept such an offer. Furthermore, Mr Nigel Wray has agreed to procure (or, as appropriate, use his best endeavours to procure) that certain individual shareholders known to him representing in aggregate 9.3 per cent of Range's share capital also enter into such an irrevocable undertaking on the same terms and conditions as described above. Together, and providing Nigel Wray is able to procure the relevant undertakings as he has committed to do, these commitments represent 82.9 per cent. of Range's issued ordinary share capital. Mr Armstrong has agreed that he will waive part of his entitlement if the aforementioned potential offer is made and that in the event that he accepts a third party competing offer, he would personally, under these circumstances, re-imburse certain costs incurred by Graphite up to a total value of £350,000. During the Exclusivity Period, the Board of Range and Mr John Armstrong have agreed not to take part in any talks or negotiations with any third party for the sale of shares in Range at a lower price than that contemplated by the Potential Offeror and Mr Nigel Wray has agreed not to take part in any such talks or negotiations regardless of the price being discussed. In the event of any breach of these commitments by either John Armstrong or Range, the Potential Offeror shall be entitled to seek damages from John Armstrong but not from the Company. ENDS This information is provided by RNS The company news service from the London Stock Exchange
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