TLD Teesland

RNS Number:3482P
Teesland Plc
11 January 2007

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION
WHERE IT WOULD BE UNLAWFUL TO DO SO



For immediate release                                            11 January 2007

                             RECOMMENDED CASH OFFER

                                      for

                           Teesland Plc ("Teesland")

                                       by

               SCAMP Holdings Limited ("SCAMP" or the "Offeror")



In accordance with the terms and conditions set out in the Offer Document, the
Offer by SCAMP remains open for acceptance until 1.00 p.m. on Friday, 12 January
2007 (being the first closing date of the Offer), or such later times and/or
dates as SCAMP may, subject to the rules of the City Code, decide.



The Independent Directors note that Polygon Global Opportunities Master Fund
("Polygon") has acquired a 21.4 per cent. interest in Teesland through contracts
for differences.  The Independent Directors are unclear as to Polygon's
intentions regarding Teesland and, in light of recent press speculation, the
Independent Directors confirm that, other than the Offer made by SCAMP, Teesland
has received no other approaches.



The Independent Directors note that, in the event that acceptances are received
which are insufficient to the Offeror, the Offer may not be declared
unconditional as to acceptances by the Offeror and the Offer may lapse.  In
these circumstances, and in the event that no other offer is forthcoming,
Teesland's share price may fall significantly below the offer price of 159.25
pence per Teesland Share.



As set out in the Offer Document, the Independent Directors, who have been so
advised by Kaupthing, consider the terms of the Offer to be fair and reasonable.
In giving its advice to the Independent Directors, Kaupthing has taken into
account the commercial assessments of the Independent Directors.  The
Independent Directors continue to believe that the Offer is in the best
interests of Teesland Shareholders as a whole and unanimously recommend that
Teesland Shareholders accept the Offer, as they have irrevocably undertaken to
do in respect of their own beneficial holdings.  Consequently, Teesland
Shareholders are urged to accept the Offer as soon as possible in accordance
with the instructions set out in the Offer Document.





Enquiries:

Kaupthing (Financial Adviser to Teesland)               Tel: +44 (0)20 3205 5000
Penelope Bridges
Nicholas How


Financial Dynamics (Financial Public Relations 
Adviser to Teesland)                                    Tel: +44 (0)20 7831 3113
Ed Bridges
Dido Laurimore




Capitalised terms used, but not defined in this announcement, have the same
meaning as given to them in the Offer Document.


Responsibility


The Independent Directors accept responsibility for all information in this
Announcement. To the best of the knowledge and belief of the Independent
Directors (who have taken all reasonable care to ensure that such is the case),
the information contained in this Announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.

General


Kaupthing, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Teesland and no one else
in connection with the Offer and will not be responsible to anyone other than
Teesland for providing the protections afforded to its customers or for
providing advice in relation to the Offer, the contents of this announcement or
any transaction or arrangement referred to therein.

This announcement is not intended to and does not constitute, or form any part
of, any offer to sell or any solicitation of any offer to purchase or subscribe
for any securities or the solicitation of any vote or approval in any
jurisdiction.  Any acceptance or other response to the Offer should be made only
on the basis of the information contained or referred to in the Offer Document
and the Form of Acceptance.  The laws of relevant jurisdictions may affect the
availability of the Offer to persons not resident in the United Kingdom.
Persons who are not resident in the United Kingdom, or who are subject to the
laws of any jurisdiction other than the United Kingdom, should inform themselves
about and observe any applicable legal or regulatory requirements of their
jurisdiction.  The Offer Document is available for public inspection.

Unless otherwise determined by SCAMP, the Offer is not being made, directly or
indirectly, in, into or from or by the use of mails of, or by any means of
instrumentality (including, without limitation, telephonically or
electronically) of interstate or foreign commerce of, or through any facilities
of a national securities exchange of the United States, Canada, Australia or
Japan and the Offer is not capable of acceptance by any such use, means,
instrumentality or facilities or from or within the United States, Canada,
Australia or Japan.  Accordingly, copies of this announcement are not being, and
must not be, mailed or otherwise forwarded, distributed or sent in, into or from
the United States, Canada, Australia or Japan and persons receiving this
announcement (including, without limitation, custodians, nominees and trustees)
must not mail or otherwise forward, distribute or send it in, into or from any
such jurisdiction.  Doing so may render invalid any purported acceptance of the
Offer.

END


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

OUPUAONRBKRAARR

Teesland (LSE:TLD)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024

Teesland (LSE:TLD)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024