Doc re. Confirmation that a Possible Offer will not be made
(Thomson Reuters ONE) - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE AVIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION TAPESTRY INVESTMENT COMPANY PCC LIMITED (the "Company")4 September 2009Confirmation that a Possible Offer will not be madeOn 2 July 2009, the Board announced that it had received an approachfrom the Company's investment manager, Ramius, which might lead to acash offer for the entire issued share capital of the Company andstressed that there could be no certainty that an offer would bemade. Ramius has now informed the Board that it will not beproceeding with an offer. Accordingly, the Company is no longer in anoffer period for the purposes of the City Code on Takeovers andMergers (the 'Code').Under Rule 2.8 of the Code, and except with the consent of theTakeover Panel, the statement in the preceding paragraph will preventRamius (and anyone acting in concert with it) from announcing anoffer or possible offer for the Company or taking certain actionswithin the next six months unless there has occurred an event, setout below, which enables the statement to be set aside.Accordingly, for the purposes of Rule 2.8 of the Code, Ramiusreserves the right (on behalf of itself and anyone acting in concertwith it) to announce an offer or possible offer for the Companyand/or to take any other action which would otherwise be restrictedunder Rule 2.8 of the Code within the next six months in the eventthat:(i) the agreement or recommendation of the board of the Company isgiven to the making of such an announcement or the taking of any suchother action; or(ii) a third party announces an offer or possible offer for theCompany; or(iii) the Company announces a 'whitewash proposal' or a 'reversetakeover' (each as defined in the Code); or(iv) there is a material change in circumstances.As envisaged the recommended proposals for the managed wind-down ofthe Company (the terms of which are set out in the Circular sent toshareholders dated 21 August 2009) will be put to shareholders fortheir approval at Extraordinary and Class Meetings to be held on 11September 2009.This announcement has been issued with the consent of Ramius.Contacts for queries:Tapestry Investment Company PCC LimitedMel Carvill (Chairman)01481 727111Ann Spelman (Company Secretary)01481 752441Collins Stewart Europe LimitedAndrew Zychowski020 7523 8363Collins Stewart, which is authorised and regulated by the FinancialServices Authority, is acting for the Company and for no one else inconnection with the matters detailed in this announcement and willnot be responsible to anyone other than the Company for providing theprotections afforded to clients of Collins Stewart or for affordingadvice in relation hereto, or any other matters referred to herein.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 04.09.2009 - 08:01 Uhr
Sprache: Deutsch
News-ID 5491
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