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RNS Number : 1769P

Airsprung Group PLC

29 September 2011

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.

Airsprung Group Plc

("Airsprung", the "Company", or the "Group")

Response to Offer by Portnard Limited

The Board of directors of Airsprung, and their financial advisers, finnCap Limited ("finnCap"), note the offer announced today by Portnard Limited for the entire issued and to be issued share capital of the Company.

A further announcement will be made in due course, but in the meantime, shareholders are advised to take no action in respect of the offer.

Rule 2.10

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"), the Company confirms that it has 23,888,698 ordinary shares of ten pence each in issue and admitted to trading on the AIM market of the London Stock Exchange under the UK ISIN code GB0000119940.

-ends-

Enquiries:

 
 Airsprung Group   FinnCap 
  Plc 
 Stuart Lyons      Marc Young / 
                    Charlotte Stranner 
 Chairman 
 Tel: 020 7352     Tel. 020 7600 
  3309              1658

Further information

finnCap, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Airsprung and no one else in connection with the offer and other matters referred to in this announcement and will not be responsible to any person other than Airsprung for providing the protections afforded to clients of finnCap nor for giving advice in relation to the offer or any other matter or arrangement referred to in this announcement.

This announcement is not intended to and does not constitute, or form any part of, an offer to sell or an invitation to subscribe for or purchase any securities or the solicitation of an offer to purchase or subscribe for any securities, or the solicitation of any vote or approval in any jurisdiction pursuant to the offer or otherwise. The offer will be made solely through the offer document, which will contain the full terms and conditions of the offer.

Overseas Shareholders

This announcement has been prepared for the purpose of complying with English law and the Code and the information disclosed is not the same as would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the UK.

The release, distribution or publication of this announcement in jurisdictions other than the UK may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the UK should inform themselves about and observe any applicable requirements.

Dealing disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

Publication on website

A copy of this announcement will be made available free of charge, subject to certain restrictions relating to persons resident in any Restricted Jurisdiction, on Airsprung's website at www.airsprung-furniture.co.uk by no later than 12 noon (London time) on 30 September 2011.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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