Business
Statement regarding Mouchel's
Statement regarding Mouchel's.
About this update from Costain Group Plc
[{"type":"text","content":"\n RNS Number : 0570Z Costain Group PLC 06 January 2011 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n \nCostain Group PLC\n(\"Costain\" or the \"Company\")\n \nStatement regarding Mouchel Group plc's (\"Mouchel\") response to Costain's revised approach\n \nThe Board of Costain is surprised by Mouchel's response to Costain's significantly enhanced proposal which, based on Costain's closing share price on 5 January 2011, values each Mouchel share at 135p per share, a premium of 138.9 per cent. to the closing Mouchel share price of 56.5p immediately prior to Mouchel entering the current offer period on 6 December 2010. \n \nThis decision by the Board of Mouchel denies its shareholders the opportunity to have a major stake in a well capitalised, financially efficient, enlarged business, with a clear strategy for future profitable growth.\n \nEnquiries:\n \n\n\n\n\nCostain Group PLC\n\n\nTel: +44 1628 842 444\n\n\n\n\nAndrew Wyllie, Chief Executive\n\n\n\n\n\n\n\nTony Bickerstaff, Finance Director\n\n\n\n\n\n\n\nGraham Read, Communications Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInvestec Investment Banking (Financial adviser & broker to Costain)\n\n\nTel: +44 20 7597 5970\n\n\n\n\nDavid Currie\n\n\n\n\n\n\n\nCharles Batten\n\n\n\n\n\n\n\nJames Rudd\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCollege Hill (PR adviser to Costain)\n\n\nTel: +44 20 7457 2020\n\n\n\n\nMark Garraway\n\n\n\n\n\n\n\nMike Davies\n\n\n\n\n\n\n\nAdam Aljewicz\n\n\n\n\n\n\n\n \nA copy of this announcement will shortly be available, free of charge, on the Company's website at www.Costain.com \n \nInvestec (which is authorised and regulated in the United Kingdom by the Financial Services Authority) is acting exclusively for Costain and for no one else in connection with the possible offer and will not be responsible to anyone other than Costain for providing the protections afforded to Investec clients nor for providing advice in relation to the possible offer or any other matters referred to in this announcement. \n \nThis announcement does not constitute an offer to purchase any securities, or an offer to sell or the solicitation of an offer...