Business
Rejection of Approach
Rejection of Approach.
About this update from Restore Plc
[{"type":"text","content":"\n Radstone Technology PLC\n18 August 2006\n\n\n\nFor Immediate Release 18 August 2006\n\n\n\n Radstone Technology PLC (\"Radstone\" or the \"Company\")\n\n Rejection of approach from Eurotech S.p.a (\"Eurotech\")\n\n\n\nThe Board of Radstone notes today's announcement by Eurotech and confirms that\nit received two conditional indicative proposals from Eurotech regarding a\npossible offer for Radstone.\n\n\nThe Board of Radstone reviewed the proposals carefully, in conjunction with its\nfinancial advisers Close Brothers and with its stockbrokers JPMorgan Cazenove.\nThe Board unanimously concluded that the proposals significantly undervalued the\nCompany and its prospects and as such, the Board of Radstone unanimously\nrejected Eurotech's proposals.\n\n\nIn accordance with Rule 2.10 of the City Code on Takeovers and Mergers the\nCompany confirms that, as at close of business today, it has in issue 30,339,640\nordinary shares of 121/2 pence each. The International Securities Identification\nNumber for these shares is GB0007204836.\n\n\nFor further information, please contact:\n\nRadstone Technology 01327 359444\nJeff Perrin, Chief Executive\nPeter Cavill, Director\n\n\nClose Brothers Corporate Finance 020 7655 3100\nSimon Willis\nDavid Wardrop\n\n\nJPMorgan Cazenove 020 7588 2828\nJulian Cazalet\nDavid Harvey-Evers\n\n\nBuchanan Communications 020 7466 5000\nMark Edwards 07801 480 322\nNicola Cronk 07973 313 365\n\n\n\n\nDealing Disclosure Requirements\n\n\nUnder the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the\n\"Code\"), if any person is, or becomes, \"interested\" (directly or indirectly) in\n1% or more of any class of \"relevant securities\" of Radstone Technology PLC, all\n\" dealings\" in any \"relevant securities\" of that company (including by means of\nan option in respect of, or a derivative referenced to, any such \"relevant\nsecurities\") must be publicly disclosed by no later than 3.30 pm (London time)\non the London business day following the date of the relevant transaction. This\nrequirement will continue until the date on which the offer becomes, or is\ndeclared, unconditional as to acceptances, lapses or is otherwise withdrawn or\non which the \"offer period\" otherwise ends. If two or more persons act together\npursuant to an agreement or understanding, whether formal or informal, to\nac...