RNS Number:1533F
Takeover Panel
16 December 2002

                                                                         2002/25

                               THISTLE HOTELS PLC
                                  ("THISTLE")

                                   ORB A.R.L.
                                    ("ORB")



Following recent representations made by Merrill Lynch, advisers to Thistle, the
Panel Executive has been considering the application of Rule 35.1(b) of the Code
to the announcement made by Orb on 4 November 2002 that Orb was considering
making an offer for Thistle.  Following discussions with the parties' advisers,
the Panel Executive has ruled that Orb must, by 12 noon on Wednesday, 15 January
2003, either announce an offer for Thistle under Rule 2.5 of the Code or
announce that it will not proceed with an offer for Thistle.  No extension to
this deadline will be granted, except with the consent of the Panel Executive.
In the event that Orb announces that it will not proceed with an offer for
Thistle, Orb and any person acting in concert with it will, except with the
consent of the Panel Executive, be bound by the restrictions contained in Rule
2.8 of the Code for six months from the date of such announcement.

Each of the parties has accepted this ruling.





16 December 2002





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

MSCBBBDDUSBGGDL

x
Thistle Hotels (LSE:THO)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Thistle Hotels Charts.
Thistle Hotels (LSE:THO)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Thistle Hotels Charts.