Disposal Of Elmwood Park Power Plant
September 17 2009 - 3:32AM
UK Regulatory
TIDMRPL
RNS Number : 2120Z
Renewable Power and Light Plc
17 September 2009
RENEWABLE POWER & LIGHT PLC
DISPOSAL OF ELMWOOD PARK POWER PLANT
17 September 2009
Renewable Power & Light plc (AIM: RPL) ("RPL" or "the Company"), today announces
that, in conjunction with its previously announced signing of an agreement for
the sale of the Elmwood Park and Massena power plants, it has closed on the sale
of the Elmwood Park power plant. The sale of the Massena power plant is now
expected to close by the end of October, due to a delay in obtaining New York
State regulatory approval.
For further information, please contact:
Renewable Power & Light plc Tim Hunstad Telephone: +1 952 746 0393
Grant Thornton UK LLP Gerald BeaneyTelephone: +44 0207 383 5100
(Nominated Adviser)
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in
1% or more of any class of 'relevant securities' of RPL, all 'dealings' in any
'relevant securities' of that company (including by means of an option in
respect of, or a derivative referenced to, any such 'relevant securities') must
be publicly disclosed by no later than 3.30pm (London time) on the London
business day following the date of the relevant transaction.
This requirement will continue until the date on which the offer becomes, or is
declared, unconditional as to acceptances, lapses or is otherwise withdrawn or
on which the 'offer period' otherwise ends. If two or more persons act together
pursuant to an agreement or understanding, whether formal or informal, to
acquire an 'interest' in 'relevant securities' of RPL, they will be deemed to be
a single person for the purpose of Rule 8.3. Under the provisions of Rules 8.1
of the Code, all 'dealings' in 'relevant securities' of RPL by a potential
offeror, or RPL, or by any of their respective 'associates', must be disclosed
by no later than 12.00 noon (London time) on the London business day following
the date of the relevant transaction.
A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk
'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a 'dealing' under Rule 8, you should consult the Panel.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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