CSE Cross Shr Reg S

RNS No 8435k
CITY SITE ESTATES PLC
9th December 1998


The Board of the Miller Group Ltd (Miller) notes the statement made by the
Independent Directors of City Site Estates plc (City Site) today, which 
clarifies the options open to shareholders in view of the definitive proposals
from Miller which were also announced today.

The Miller offer of 35p per ordinary share (the Miller Offer), which 
represents a circa 35% increase on the Woodvale offer of 26p per ordinary share,
will be posted to shareholders once it is recommended by the Independent
Directors and provided the Woodvale offer lapses and there have been no further
share or convertible debt purchases by or options granted to the Woodvale
concert parties.

In the absence of a further statement by Woodvale, which announced yesterday
that the latest date for accepting its offer and, therefore, the first date on
which its offer could lapse, is the 15th December 1998. If the Woodvale offer
lapses on 15 December 1998 and the specific conditions already set out by Miller
are satisfied, the Miller Offer will be posted on 22 December 1998.

For Further Information

Pamela Counter                        Graham Watson
MacLaurin Communications Ltd          Deloitte & Touche Corporate Finance
Tel: 0131-220 8291                    Tel: 0131-535 7221

Deloitte & Touche of Stonecutter Court, 1 Stonecutter Street, London, EC4A 4TR
is authorised by the Institute of Chartered Accountants in England and Wales to
carry on investment business. Deloitte & Touche Corporate Finance, a division of
Deloitte & Touche, is acting for Miller of Miller House, 18 South Groathill
Avenue, Edinburgh, EH4 2LW and no-one else in connection with the Miller Offer,
and will not be responsible to anyone other than Miller for providing the
protections offered to clients of Deloitte & Touche Corporate Finance nor for
providing advice in relation to the Miller Offer.

The directors of Miller, James Miller, Keith Miller, John Richards, Rob Clarke,
Phil Miller, Geoff Potton, Hew Balfour, Malcolm Gourlay and Jack Mather,
accept responsibility for the information contained in this announcement. To
the best of the knowledge and belief of the directors of Miller (who have taken
all reasonable care to ensure that such is the case), the information for which
they accept responsibility in this announcement, is in accordance with the facts
and does not omit anything likely to affect the import of such information.

Deloitte & Touche Corporate Finance has approved this announcement as an
investment advertisement solely for the purpose of section 57 of the Financial
Services Act 1986.

END

MSCFCCCNODDDKBK

Cross Shore Acquisition (LSE:CSE)
Historical Stock Chart
From Jun 2024 to Jul 2024

Cross Shore Acquisition (LSE:CSE)
Historical Stock Chart
From Jul 2023 to Jul 2024