FPT Forth Ports

 

TIDMFPT 
 
RNS Number : 0621L 
Takeover Panel 
29 April 2010 
 

2010/13 
                        FORTH PORTS PLC ("FORTH PORTS") 
                      NORTHSTREAM LIMITED ("NORTHSTREAM") 
 
Following recent representations made by the advisers to Forth Ports, the Panel 
Executive has been considering the application of Rule 2.4(b) of the Code to the 
announcement made by Forth Ports, on 5 March 2010, in which it confirmed that it 
had received an approach from Northstream that may lead to an offer for Forth 
Ports.  Following discussions with both parties' advisers, the Panel Executive 
has ruled that, unless the Panel Executive consents otherwise, Northstream must, 
by 5.00 p.m. on 1 June 2010, either announce a firm intention to make an offer 
for Forth Ports under Rule 2.5 of the Code or announce that it does not intend 
to make an offer for Forth Ports.  In the event that Northstream announces that 
it does not intend to make an offer for Forth Ports, Northstream and any 
person(s) acting in concert with it will, except with the consent of the Panel 
Executive, be bound by the restrictions contained in Rule 2.8 of the Code for 
six months from the date of such announcement. 
Each of the parties has accepted this ruling. 
29 April 2010 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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