Business
Response to Press Comment
Response to Press Comment.
About this update from Pagegroup Plc
[{"type":"text","content":"\n RNS Number : 6371A Michael Page International PLC 05 August 2008 \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n\n\nFOR IMMEDIATE RELEASE\n\n5 August 2008\n\nMichael Page International plc (\"Michael Page\" or the \"Company\")\n\nResponse to Press Speculation\n\nThe Board of Michael Page notes the recent movement in its share price and press speculation and confirms that it has received an unsolicited preliminary approach from Adecco regarding a possible offer for the Company. The approach is subject to a number of waivable pre-conditions, including due diligence.\n\nThe Board of Michael Page continues to believe that the Company has a very strong future as an independent group. The clear strategy of organically diversifying the group's activities by geography and discipline and increasing its exposure to growth markets, together with the longer-term structural growth drivers of the specialist recruitment market, mean that the Company has excellent prospects. \n\nThis announcement is made without the consent of Adecco. There can be no certainty that an offer will be made, nor as to the terms on which any offer might be made even if the pre-conditions are satisfied or waived.\n\nA further announcement will be made when appropriate. \n\nEnquiries:\n\n\n\n\nFinancial Dynamics\nDavid Yates / Richard Mountain\n\n\nTel: +44 (0)207 269 7156\n\n\n\n\n\n\nDealing Disclosure Requirements:\n\nUnder 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 Adecco or Michael Page, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the \"offer period\" otherwise ends.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 togeth...