TIDMCPT TIDMNEPI
RNS Number : 9577Q
Carpathian PLC
22 April 2009
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| PRESS ANNOUNCEMENT |
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| IMMEDIATE RELEASE | |
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| | |
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| 22 April 2009 | |
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| Carpathian PLC ("Carpathian" or the "Company") |
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| APPROACH FROM NEW EUROPE PROPERTY INVESTMENTS PLC ("NEPI") |
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| The Board of Carpathian (the "Board") notes this morning's |
| announcement by NEPI and confirms that it received a |
| conditional indicative proposal from NEPI regarding a |
| possible offer for Carpathian. |
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| |
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| The Board is seeking further clarification in relation to |
| a number of areas such as due diligence requirements and |
| financing while consulting with certain of the Company's |
| key shareholders before formally considering the proposal. |
| There is no certainty that the proposal will lead to a |
| firm offer. |
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| |
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| The Board expects to announce further details in relation |
| to the ongoing strategic review at the time of the |
| preliminary results announcement. |
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| Enquiries: | |
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| Carpathian PLC | Via Redleaf |
| | Communications |
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| Rory Mcnamara (Non-executive | |
| Chairman) | |
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| | |
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| Carpathian Asset Management | 020 3178 2892 |
| Limited | |
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| Paul Rogers | |
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| | |
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| Collins Stewart Europe Limited | 020 7523 8000 |
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| Bruce Garrow | |
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| | |
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| Hawkpoint Partners Limited | 020 7665 4500 |
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| Edward Arkus | |
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| | |
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| Redleaf Communications | 020 7566 6700 |
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| Emma Kane | carpathian@redleafpr.com |
| Adam Leviton | |
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| |
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| Hawkpoint Partners Limited ("Hawkpoint"), which is |
| authorised and regulated in the United Kingdom by the |
| Financial Services Authority, is acting exclusively for |
| Carpathian and no one else in connection with any possible |
| offer or other transaction and will not be responsible to |
| anyone other than Carpathian for providing the protections |
| afforded to customers of Hawkpoint, or for providing |
| advice to any other person in relation to any possible |
| offer or other transaction. |
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| |
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| Collins Stewart Europe Limited ("Collins Stewart"), which |
| is authorised and regulated in the United Kingdom by the |
| Financial Services Authority, is acting exclusively for |
| Carpathian and no one else in connection with any possible |
| offer or other transaction and will not be responsible to |
| anyone other than Carpathian for providing the protections |
| afforded to customers of Collins Stewart, or for providing |
| advice to any other person in relation to any possible |
| offer or other transaction. |
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| 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 Carpathian, 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 Carpathian, 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 offeror or of Carpathian by the offeror or |
| Carpathian, 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. |
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| "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. |
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| 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. |
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This information is provided by RNS
The company news service from the London Stock Exchange
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