Statement re: Put up or shut up deadline

 

TIDMMCHL TIDMVTG 
 
RNS Number : 0171G 
Takeover Panel 
22 January 2010 
 
2010/3 
 
MOUCHEL GROUP PLC ("MOUCHEL") 
VT GROUP PLC ("VT") 
 
Following recent representations made by the advisers to Mouchel, the Panel 
Executive has been considering the application of Rule 2.4(b) of the Code to the 
announcement made by Mouchel, on 14 December 2009, in which it confirmed that it 
had received two unsolicited approaches from VT and rejected those approaches, 
but it understood that VT remained interested in pursuing a transaction. 
Following discussions with both parties' advisers, the Panel Executive has ruled 
that, unless the Panel Executive consents otherwise, VT must, by 5.00 p.m. on 8 
March 2010, either announce a firm intention to make an offer for Mouchel under 
Rule 2.5 of the Code or announce that it does not intend to make an offer for 
Mouchel. In the event that VT announces that it does not intend to make an offer 
for Mouchel, VT and any person(s) acting in concert with it will, except with 
the consent of the Panel Executive, be bound by the restrictions contained in 
Rule 2.8 of the Code for six months from the date of such announcement. 
 
Each of the parties has accepted this ruling. 
 
22 January 2010 
 
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