Statement re Possible Offer
December 02 2003 - 12:59PM
UK Regulatory
RNS Number:7857S
Barlo Group PLC
02 December 2003
Barlo Group plc
On 11 July 2003 it was announced that Barlo Group Plc ("Barlo" or "the Company")
had received an approach from its Chief Executive, Dr. Anthony Mullins on behalf
of himself and other members of the management team of the Company, which may or
may not lead to an offer being made for the Company and which was made on the
basis of an offer price of Euro0.30 for each ordinary share in the capital of the
Company (a "Barlo Share").
In response to recent media speculation, the Company announces that the approach
has been revised to a basis of an offer price of Euro0.40 per Barlo Share. It is
further understood that the offer, if made, will be made by Melgan Limited (a
company formed under the direction of Dr. Mullins) ("Melgan").
The Committee of the Board of Barlo (comprising Mr. Niall Carroll and Mr. John
Farrell) (the "Committee") is considering this approach, which may or may not
lead to an offer being made for the Company.
The Committee and Melgan are in discussions with a view to having a firm
intention to make an offer announcement issued by mid January.
The revised approach does not constitute a firm intention to make an offer and,
therefore, there can be no certainty that an offer will result.
A holder of 1% or more of the shares of Barlo may have disclosure obligations
under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2001,
effective from 11 July 2003.
Enquiries:
Mon O'Driscoll Managing Director, AIB Corporate Finance Tel: + 353 1 667 0233
Mr. Niall Carroll Chairman, Barlo Group plc Tel: + 353 1 260 0966
Mr. Jim Milton Murray Consultants Limited Tel: + 353 1 632 6400
Mob: + 353 86 255 8400
Mr. Tom Byrne Murray Consultants Limited Tel: + 353 1 498 0339
Mob: +353 86 810 4224
AIB Corporate Finance Limited, which is regulated in Ireland by the Irish
Financial Services Regulatory Authority under the Investment Intermediaries Act,
1995, is acting for Barlo and for no one else in relation to the matters
described in this announcement and will not be responsible to anyone other than
Barlo for providing the protections afforded to clients of AIB Corporate Finance
Limited or for providing advice in relation to the matters described in this
announcement.
This announcement does not constitute an offer or an invitation to purchase any
securities.
The Directors of Barlo accept responsibility for all the information contained
in this announcement. To the best of the knowledge and belief of the Directors
of Barlo (who have each taken all reasonable care to ensure that such is the
case), the information contained in this announcement is in accordance with the
facts and does not contain anything likely to affect the import of such
information.
This information is provided by RNS
The company news service from the London Stock Exchange
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