Cassell PLC - Statement Re Offer
October 12 1998 - 11:00AM
UK Regulatory
RNS No 2351p
CASSELL PLC
12 October 1998
CASSELL PLC
The Directors of Cassell plc ("Cassell"or the "Company") note the
announcements this morning by Macmillan Publishers Limited
("Macmillan").
The Directors of Cassell believe that the Offer does not reflect the
underlying value of Cassell's publishing assets and accordingly the
Board will be exploring all its options to ensure that shareholder value
is maximised. The Directors of Cassell, advised by Charterhouse Tilney
Securities Limited, urge shareholders to take no further action until
the Board of Cassell has had the opportunity to consider the Offer
alongside other options for the future of the Company.
The Directors of Cassell point out that whilst Macmillan has purchased
14.9% of Cassell, the remainder of the indications of support for the
Offer cease to be binding in the event of a competing offer which
exceeds Macmillan's offer by 10% or more.
Further information
Cassell plc
Philip Sturrock 0171 420 5555
Charterhouse Tilney Securities
Limited 0171 248 4000
Peter May
Charterhouse Tilney Securities Limited, which is regulated in the United
Kingdom by the Securities and Futures Authority, is acting exclusively
for Cassell and no one else in connection with the Offer and will not be
responsible to anyone other than Cassell for providing the protections
afforded to customers of Charterhouse Tilney Securities Limited, nor for
providing advice in relation to the Offer.
END
OFFNFLEAFSAPFFN
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