Business
Statement re Baggeridge Brick
Statement re Baggeridge Brick.
About this update from Michelmersh Brick Holdings Plc
[{"type":"text","content":"\n Michelmersh Brick Holdings PLC\n01 August 2007\n\n\n Michelmersh Brick Holdings plc\n\n ('Michelmersh' or 'the Company')\n\nAcceptance of Offer for Baggeridge Brick Plc Shares at 247p Per Share\n\nMichelmersh announced on 4 June 2007 that it held a 23.12 per cent. stake in \nBaggeridge Brick PLC ('Baggeridge') and was continuing to evaluate a possible \noffer for Baggeridge at a price of no less than 225 pence per share. In light of \nan increased offer for Baggeridge by Wienerberger Finance Service B.V. \n('Wienerberger') at a price of 247 pence per share, the Board of Michelmersh \nconfirmed on 15 June 2007, that it would no longer be proceeding with an offer \nfor Baggeridge. Michelmersh acquired its 23.1 per cent. interest in Baggeridge \nat an average cash acquisition price of 214.8 pence per share.\n\nOn 3 July 2007, Michelmersh announced that it had acquired a further 809,000 \nBaggeridge ordinary shares, increasing its holding to 25.1 per cent of the \nissued share capital of Baggeridge. The consideration for these shares was \nsatisfied by way of the issue of 1,998,230 new Michelmersh shares.\n\nAfter further consideration, the Board of Michelmersh has decided that it is in \nthe best interests of the Company to accept the offer of 247 pence per share by \nWienerberger in respect of its entire holding of 10,356,869 ordinary shares \nin Baggeridge and has effected this acceptance.\n\nIn a trading update issued on 3 July 2007, Michelmersh announced that it\ncontinues to see strong demand for its products across all group companies and\nthat the Board anticipates underlying operating profit for the six months to 30\nJune 2007 will be significantly higher than the comparable period in 2006 and\nwill be ahead of estimates for the period.\n\nThe Company will announce its interim results on 10 September 2007.\n\nEnquiries:\n\nMichelmersh Brick Holdings plc\nMartin Warner 01442 870 227\n\nNominated Adviser and Broker\nCharles Stanley Securities 020 7149 6000\nRussell Cook\nAnthony Noakes\n\nTavistock Communications 020 7920 3150\nJeremy Carey\nRachel Drysdale\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2313,"tagName":"div"}]