RNS Number : 9405K
  British Energy Group PLC
  31 December 2008
   

    31 December 2008

    British Energy Group plc

    Disclosure in accordance with Rule 2.10 of the City Code

    British Energy Group plc announces, in accordance with Rule 2.10 of The City Code on Takeovers and Mergers, that as at 31 December 2008
its issued share capital consisted of 1,036,048,593 ordinary shares of 10 pence each and 1 special rights redeemable preference share of
�1.

    As part of the arrangements made at the time of Restructuring, British Energy Group plc has an obligation to make annual Cash Sweep
Payments to the Nuclear Liabilities Fund (NLF) should certain criteria be met. The NLF has the right to convert some or all of its
entitlement to receive Cash Sweep Payments into convertible shares and to hold or sell those shares. The Cash Sweep Payment percentage was
35.54% as at 31 December 2008. Had the NLF converted the remainder of the Cash Sweep Payment percentage at this date, the NLF would have
held up to 35.54% of the enlarged equity share capital of British Energy Group plc.

    As at 31 December 2008 there were also 4,266,208 unexercised warrants remaining. 

    The ISIN code for British Energy's ordinary shares is GB00B04QKW59.  The ISIN code for British Energy's warrants is GB00B04QLS88.

    Contacts:

 Andrew Page    020 7266 8397  (Investor Relations)
 Andrew Dowler  020 7831 3113  (Media Enquiries)



    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 British Energy Group plc, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on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 British Energy Group plc, 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 British Energy Group plc by the offeror or
British Energy Group plc, 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. 

    "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.

    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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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