Business
Possible Offer
Possible Offer.
About this update from Truetide Plc
[{"type":"text","content":"\n Braveheart Investment Group plc\n09 April 2008\n\n\nNot for release, publication or distribution in whole or in part, in or into the\nUnited States, Canada, Australia, Japan or the Republic of Ireland\n\n\n Braveheart Investment Group plc ('Braveheart' or the 'Company')\n Possible Offer\n\n\nBraveheart is considering making a recommended offer for the entire issued and\nto be issued share capital of ANGLE. The consideration for any such offer would\nbe satisfied in full by the issue of new ordinary shares in Braveheart.\n\nPrior to ANGLE entering into an offer period, Braveheart obtained signed,\nnon-binding, letters of intent to support a recommended offer from institutional\nshareholders in ANGLE, in respect of shares representing 35.76 per cent. of\nANGLE's issued ordinary share capital.\n\nThe Board of Braveheart intends shortly to meet with the board of ANGLE to seek\naccess to further information with a view to obtaining a recommendation for any\nproposed offer.\nA further announcement will be made as and when appropriate.\n\nThere can be no certainty that an offer will be made at all. It would be a\nprecondition to making an offer that Braveheart receive a recommendation from\nthe Board of ANGLE and that (in the opinion of the Board of Braveheart) no\nmaterial adverse findings arose from due diligence. Were a recommendation not\nforthcoming and/or due diligence on ANGLE give rise to any such material adverse\nfindings then the Board of Braveheart reserve the right not to proceed with an\noffer. These preconditions are capable of being waived at the discretion of the\nBoard of Braveheart. Even if the preconditions are satisfied or waived there can\nbe no certainty that an offer will be made. An offer, if made, will require the\npublication of a prospectus or prospectus equivalent document for Braveheart, as\nenlarged by the acquisition of ANGLE.\n\n\nFor further information please contact:\n\nBraveheart Investment Group plc\nGarry Watson, Chairman Tel: 01738 587555\n\nNoble & Company Limited\nDavid Ovens, Director Tel: 0131 225 9677\n\nSeymour Pierce Limited (nomad/broker to Braveheart)\nJeremy Garrett-Cox, Director Tel: 020 7107 8000\n\n\nDealing Disclosure Requirements\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 o...