Update on sale process (1251U)
December 16 2011 - 3:20AM
UK Regulatory
TIDMBSLA
RNS Number : 1251U
Blacks Leisure Group PLC
16 December 2011
Blacks Leisure Group plc
("Blacks Leisure")
Update on sale process
Blacks Leisure Group plc ("Blacks Leisure" or the "Company")
notes the recent announcement made by Sports Direct International
plc ("Sports Direct") confirming that Sports Direct does not intend
to make an offer for the Company.
A further announcement will be made in due course, if
appropriate.
Enquiries:
Blacks Leisure Tel: 01604 597 222
Peter Williams
Citigate Dewe Rogerson Tel: 020 7638 9571
Simon Rigby
Kevin Smith
KPMG LLP Tel: 020 7311 1000
David McCorquodale
Singer Capital Markets Tel: 020 3205 7500
Ltd
Jonathan Marren
A copy of this document will be published on the Company's
website at www.blacksleisure.co.uk as soon as possible.
Disclosure requirements of the Takeover Code (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 10(th) 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.
The Directors of Blacks Leisure Group plc, whose names are set
out above, accept responsibility for the information contained in
this document. To the best of the knowledge and belief of such
Directors (having taken all reasonable care to ensure that such is
the case), the information contained herein is in accordance with
the facts and does not omit anything likely to affect the import of
such information.
KPMG Corporate Finance, a division of KPMG LLP which is
authorised and regulated by the Financial Services Authority for
investment business activities, is acting for Blacks Leisure as
financial adviser in relation to the formal sale process for Blacks
Leisure and is not acting for any other person in relation to such
sale . KPMG Corporate Finance will not be responsible to anyone
other than Blacks Leisure for providing the protections afforded to
its clients or for providing advice in relation to the contents of
this document or any possible offer for Blacks Leisure or
arrangement referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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