RCC Range Cooker

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



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