Offer Update
April 28 2003 - 8:04AM
UK Regulatory
RNS Number:4327K
Thistle Hotels PLC
28 April 2003
THISTLE HOTELS PLC ("THISTLE")
POSTING OF CIRCULAR TO SHAREHOLDERS
The Board of Thistle* is today posting a circular to shareholders in response to
BIL International Limited's ("BIL") document dated 23 April 2003. The Board of
Thistle* continues to believe that BIL's offer significantly undervalues Thistle
and reiterates its recommendation that shareholders should reject BIL's offer
and urges shareholders not to complete any form of acceptance.
Enquiries:
Thistle Hotels Plc Telephone: 020 7895 2304
Ian Burke, Chief Executive Officer
Merrill Lynch International Telephone: 020 7995 2000
Simon Mackenzie-Smith, Managing Director
Richard Nourse, Managing Director
Deutsche Bank Telephone: 020 7545 8000
Charles Wilkinson, Managing Director
Financial Dynamics Telephone: 020 7831 3113
Andrew Dowler
Ben Foster
* The Board of Thistle for these purposes comprises all of the directors of
Thistle other than Tan Sri Quek Leng Chan and Mr Arun Amarsi, who in view of
their positions as Chairman and CEO, respectively, of BIL have not participated
in the deliberations of the board in relation to BIL's offer to acquire all of
the shares in Thistle not already owned by BIL.
Merrill Lynch International and Deutsche Bank AG are acting for Thistle Hotels
Plc and for no-one else in connection with BIL's offer for Thistle Hotels Plc
and will not be responsible to anyone other than Thistle Hotels Plc for
providing the protections afforded to clients of Merrill Lynch International or
Deutsche Bank AG or for providing advice in relation to such offer.
This information is provided by RNS
The company news service from the London Stock Exchange
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