Approach
January 16 2004 - 10:08AM
UK Regulatory
RNS Number:3382U
Gresham Hotel Group Plc
16 January 2004
Gresham Hotel Group plc
Statement Re Approach
Further to an announcement made on 23rd December 2003, and the announcement
made today by the Irish Takeover Panel, the Board of Gresham Hotel Group plc ("
Gresham") confirms that the Consortium which had made the approach has now made
a revised approach which does not have an 80% acceptance pre-condition.
The revised approach remains at the same level of the previous approach of Euro1.35
per share.
On this basis, the Board is in agreement with the Irish Takeover Panels
extension of the 16th January 2004 deadline to 5 p.m. on 30th January 2004, and
is now in a position to commence discussions with the Consortium.
A holder of 1% or more of the shares of Gresham may have disclosure obligations
under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2001,
effective from the date of this announcement.
Enquiries:
Mon O'Driscoll Managing Director, AIB Corporate Finance Tel: + 353 1 667 0233
Mr. Patrick Coyle Managing Director, Gresham Hotel Group plc Tel: + 353 1 817 6209
AIB Corporate Finance Limited, which is regulated in Ireland by the Irish
Financial Services Regulatory Authority under the Investment Intermediaries Act
1995, is acting for Gresham and for no one else in relation to the matters
described in this announcement and will not be responsible to anyone other than
Gresham for providing the protections afforded to clients of AIB Corporate
Finance Limited or for providing advice in relation to the matters described in
this announcement.
This announcement does not constitute an offer or an invitation to purchase any
securities.
The Directors of Gresham accept responsibility for all the information contained
in this announcement. To the best of the knowledge and belief of the Directors
of Gresham (who have each taken all reasonable care to ensure that such is the
case), the information contained in this announcement is in accordance with the
facts and does not contain anything likely to affect the import of such
information.
16th January 2004
ENDS
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END
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