Disposal of Biodiesel Equipment
November 18 2009 - 11:23AM
UK Regulatory
TIDMRPL
RNS Number : 7237C
Renewable Power and Light Plc
18 November 2009
RENEWABLE POWER & LIGHT PLC
DISPOSAL OF BIODIESEL EQUIPMENT
18 November 2009
Renewable Power & Light plc (AIM: RPL) ("RPL" or "the Company"), today announces
that, in conjunction with the previously announced plan for the sale of the
Company's "mothballed" biodiesel facility, all the equipment has been sold at
auction and proceeds of approximately US$1.5 million (before commissions and
expenses) have been collected.
For further information, please contact:
Renewable Power & Light plcTim Hunstad Telephone: +1 952 746 0393
Grant Thornton Corporate FinanceGerald Beaney Telephone: +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declared, unconditional as to acceptances, lapses or is otherwise withdrawn or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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