Offer for Peel Holdings p.l.c

Peel Hldgs PLC 16 August 2004 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF IRELAND OR SOUTH AFRICA 16 August 2004 FOR IMMEDIATE RELEASE Peel Holdings p.l.c. ('Peel') Results of the Court Hearing The Board of Peel announces that, at a court hearing held earlier today, the High Court sanctioned the scheme of arrangement between Peel and its shareholders in connection with the offer by Peel Acquisitions Limited ('Acquisitions') to buy-out the minority shareholders in Peel by way of a scheme of arrangement under s.425 of the Companies Act 1985. The Record Date of the Scheme is expected to be Tuesday 17 August 2004 and the Effective Date of the Scheme is expected to be Wednesday 18 August 2004, at which point Peel will become a wholly owned subsidiary of Acquisitions. Assuming that the Effective Date falls on Wednesday 18 August 2004, Peel shares will be delisted from AIM on this day. Assuming that the Effective Date falls on Wednesday 18 August 2004, the latest date for the despatch of cheques to Scheme Shareholders is Wednesday 1 September 2004. Defined terms used in this announcement have the same meaning as in the circular posted to Shareholders on 30 June 2004. Enquiries: Peel Holdings p.l.c. Telephone: 0161 629 8200 Peter Scott N M Rothschild & Sons Limited Telephone: 0161 827 3800 Richard Bailey/Andrew Thomas The Directors of Peel Holdings p.l.c accept responsibility for the information contained in this announcement. To the best of knowledge and belief of the Directors, who have taken all reasonable care to ensure 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. N M Rothschild & Sons Limited is acting for Peel Holdings p.l.c and no one else in connection with the possible transaction and will not be responsible to anyone other than Peel Holdings p.l.c for providing the protections afforded to clients of N M Rothschild & Sons Limited or for providing advice in relation to the possible transaction. This information is provided by RNS The company news service from the London Stock Exchange