Possible Offer for Dowgate Capital


 

TIDMBLUE TIDMDGT 
 
RNS Number : 6463Q 
Blue Oar PLC 
16 April 2009 
 

 
 
Blue Oar PLC 
 
 
Possible offer for Dowgate Capital PLC 
 
 
 
 
For immediate release 
16 April 2009 
 
 
The Board of Blue Oar PLC ("Blue Oar") announces that it yesterday purchased 
3,891,974 ordinary shares of 7.5p each in Dowgate Capital PLC ("Dowgate"), 
representing 9.9% of Dowgate's issued share capital, for cash at 6p per share as 
set out in the disclosure form released today in compliance with Rule 8.1 of the 
Takeover Code.  Blue Oar has no other interests in Dowgate shares. 
 
 
Blue Oar is considering its position regarding a possible offer for Dowgate. If 
any offer is made, it will be at a minimum price of 6p per Dowgate share, such 
price being a premium of 100% to the middle market price of 3p per Dowgate Share 
as at close of business on 9 April 2009, being the dealing day before the 
commencement of the offer period.  If any offer is made, the consideration would 
be in cash and may be accompanied by a share alternative. The acquisition may be 
structured as an offer or as a scheme of arrangement. 
 
 
Blue Oar has 167,933,601 shares in issue with ISIN GB0031792194. This 
information is given in compliance with Rule 2.10 of the Takeover Code. 
 
 
It is emphasised that this announcement does not amount to a firm intention to 
make an offer and it is possible that no offer will be made. 
 
 
A further announcement will be made in due course. 
 
 
Dealing Disclosure Requirements 
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any 
person is, or becomes, "interested" (directly or indirectly) in 1% or more of 
any class of "relevant securities" of Blue Oar, or of Dowgate, 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 3.30 pm (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unconditional as to acceptances, lapses or is otherwise withdrawn or on which 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 Blue Oar or Dowgate, they will be deemed 
to be a single person for the purpose of Rule 8.3. 
 
 
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant 
securities" of 
Blue Oar or of Dowgate by Blue Oar or Dowgate, 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. 
 
 
The persons responsible for this announcement are the directors of Blue Oar. To 
the best of the knowledge and belief of the directors of Blue Oar the 
information in this announcement is in accordance with the facts and does not 
omit anything likely to affect the import of such information. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 OFDBIGDSIUBGGCU
Dowgate Capital (LSE:DGT)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024