London Capital Group Holdings PLC Statement re share price movement (7296X)
February 12 2013 - 10:14AM
UK Regulatory
TIDMLCG
RNS Number : 7296X
London Capital Group Holdings PLC
12 February 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
This is an announcement falling under Rule 2.4 of the Takeover
Code and does not constitute an announcement of a firm intention to
make an offer under Rule 2.7 of the Takeover Code. There can be no
certainty that an offer will be made nor as to the terms on which
any offer might be made.
12 February 2013
London Capital Group Holdings plc
("LCG", "London Capital Group" or the "Company")
Statement re: rise in LCG's share price
London Capital Group notes the recent rise in LCG's share price
and announces that it has received preliminary approaches from
Cantor Fitzgerald Europe ("Cantor"), GAIN Capital Holdings, Inc
("GAIN") and City Index Limited ("City Index") regarding a possible
acquisition of the entire issued and to be issued share capital of
LCG. There is no certainty that any of these approaches will lead
to an offer being made for the Company.
Rule 2.6(a) of the City Code on Takeovers and Mergers (the
"Code") requires Cantor, GAIN and City Index by not later than 5.00
p.m. on 12 March 2013 (the "relevant deadline"), to either announce
a firm intention to make an offer for LCG in accordance with Rule
2.7 of the Code or announce that it does not intend to make an
offer, in which case the announcement will be treated as a
statement to which Rule 2.8 of the Code applies. The relevant
deadline will only be extended with the consent of The Takeover
Panel in accordance with Rule 2.6(c) of the Code.
Pursuant to Rule 2.10 of the Code the Company confirms that
there are 53,185,908 ordinary shares of 10p in issue with
International Securities Identification Number GB00B0RHGY93.
A further announcement will be made as appropriate.
A summary is set out below of the dealing disclosure
requirements under the Takeover Code, which require action by
holders of 1 per cent. or more of LCG's issued share capital.
In accordance with Rule 30.4 of the Code, a copy of this
announcement will be available on the Company's website
(www.londoncapitalgroup.com).
Enquiries:
London Capital Group Holdings plc
Siobhan Moynihan, Group Finance Director
020 7456 7000
Cenkos Securities plc
Nicholas Wells/Camilla Hume
020 7397 8900
Smithfield Consultants
John Kiely
020 7360 4900
Disclosure requirements of 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 LCG 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) LCG 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 p.m.
(London time) on the 10th business day following the commencement
of the offer period and, if appropriate, by no later than 3.30 p.m.
(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 LCG 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 LCG
or of any paper offeror must make a Dealing Disclosure if the
person deals in any relevant securities of LCG 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) LCG
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 p.m. (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 LCG 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 LCG and by any
offeror and Dealing Disclosures must also be made by LCG, 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. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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