GDYO Gibbs & Dandy

    RNS Number : 2678Y
  Gibbs & Dandy PLC
  03 July 2008
   

    Gibbs and Dandy plc 

    3 July 2008


    Recommended Proposals for the acquisition of Gibbs and Dandy plc ("' Gibbs and Dandy" or the "Company") by Saint-Gobain Building
Distribution Limited ("SGBD"), a wholly-owned subsidiary of Compagnie de Saint-Gobain ("Saint-Gobain") 


     Delisting of Gibbs and Dandy Ordinary Shares


    The Company announces that it has applied to the United Kingdom Listing Authority for the cancellation of listing on the Official List
and of admission to trading on the London Stock Exchange of Gibbs and Dandy's ordinary shares of 10p each. Cancellation will take place no
earlier than 20 business days from today's date and it is currently anticipated that cancellation will take effect from 8.00 a.m. on 1
August 2008.

    This follows the announcement on 1 July 2008 by Saint-Gobain that its recommended offer to acquire the whole of the issued and to be
issued share capital of the Company (the "'Offer"') made through its subsidiary SGBD had been declared wholly unconditional and that SGBD
intended to procure that the Company applied for the cancellation of listing on the Official List and of admission to trading on the London
Stock Exchange of Gibbs and Dandy's ordinary shares. 

    As set out in the offer document dated 19 May 2008, SGBD stated that it intended to apply the procedures set out in sections 979 to 982
(inclusive) of the Companies Act 2006 to acquire compulsorily on the same terms as the recommended offer by SGBD to acquire all of the
issued and to be issued Gibbs and Dandy Ordinary Shares, any Gibbs and Dandy Ordinary Shares in respect of which the offer has not been
accepted.

    Gibbs and Dandy's shareholders should note that cancellation is likely to reduce significantly the liquidity and marketability of Gibbs
and Dandy's ordinary shares. Once cancellation has taken effect, Gibbs and Dandy shareholders will no longer be able to effect transactions
in the Company's shares on market at the market price. Following cancellation, therefore, Gibbs and Dandy's shareholders will have to effect
any further transactions in the Company's shares off market at a price to be agreed between the relevant parties.

    Enquiries:

    Gibbs and Dandy plc

    Michael Dandy        Managing Director        )    
    Amitabh Sharma    Finance Director            )    01582 798 798

    Panmure Gordon 

    Andrew Godber                                                 020 7459 3600
Andrew Potts

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