TUI Travel PLC Announcement re: Press Speculation (7114V)
16 Januar 2013 - 3:43PM
UK Regulatory
TIDMTT.
RNS Number : 7114V
TUI Travel PLC
16 January 2013
For Immediate Release
Not for release, publication or distribution, in whole or in
part, in or into or from any jurisdiction where to do so would
constitute a violation of the relevant laws of such
jurisdiction
This announcement is not an announcement of a firm intention to
make an offer under Rule 2.7 of the City Code on Takeovers and
Mergers (the "Code") and there can be no certainty that an offer
will be made
16 January 2013
Announcement by TUI Travel PLC ("TUI Travel") Regarding Press
Speculation
The Independent Directors of TUI Travel are aware of recent
speculation and are making this announcement in the interests of
market clarity. The Independent Directors of TUI Travel have
recently received an approach from TUI AG which may or may not
result in a combination of the two companies. Discussions are at a
very early stage, but are on the basis that any such combination,
if effected, would be achieved not by a reverse takeover but by
means of a nil premium all-share merger.
In accordance with Rule 2.6(a) of the Code, TUI AG is required,
by not later than 5.00 p.m. on 13 February 2013, to either announce
a firm intention to make an offer for TUI Travel in accordance with
Rule 2.7 of the Code or announce that it does not intend to make an
offer, in which case the announcement will be treated as a
statement to which Rule 2.8 of the Code applies. This deadline can
be extended with the consent of the Panel in accordance with Rule
2.6(c) of the Code.
This announcement does not amount to an announcement of a firm
intention to make an offer and there can be no certainty that an
offer will be made, nor as to the terms on which any offer will be
made.
This announcement has been made without the consent of TUI
AG.
A further announcement will be made in due course.
A copy of this announcement will be available at
www.tuitravelplc.com. The contents of the website referred to in
this announcement are not incorporated into and do not form part of
this announcement.
Enquiries:
TUI Travel
Lesley Allan, Corporate Communications +44 (0) 1293
Director 645 774
Mike Ward, External Communications +44 (0) 1293
Manager 645 776
Andy Long, Head of Strategy & +44 (0) 1293
Investor Relations 645 769
+44 (0) 207 187
Lazard 2000
Nicholas Shott
Cyrus Kapadia
Vasco Litchfield
+44 (0) 207 796
Hudson Sandler 4133
Michael Sandler
Important Notice
Lazard & Co., Limited, who is authorised and regulated in
the UK by the Financial Services Authority, is acting for TUI
Travel and no-one else in connection with the potential merger and
will not regard any other person as a client in relation to the
potential merger and will not be responsible to anyone other than
TUI Travel for providing the protections afforded to its clients or
for providing advice in relation to the potential merger or any
matters referred to in this announcement.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of an offeree
company or of any paper offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer
is, or is likely to be, solely in cash) must make an Opening
Position Disclosure following the commencement of the offer period
and, if later, following the announcement in which any paper
offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in,
and rights to subscribe for, any relevant securities of each of (i)
the offeree company and (ii) any paper offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies must be
made by no later than 3.30 pm (London time) on the 10th business
day following the commencement of the offer period and, if
appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any paper offeror
is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a paper offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any paper offeror must make a Dealing
Disclosure if the person deals in any relevant securities of the
offeree company or of any paper offeror. A Dealing Disclosure must
contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
paper offeror, save to the extent that these details have
previously been disclosed under Rule 8. A Dealing Disclosure by a
person to whom Rule 8.3(b) applies must be made by no later than
3.30 pm (London time) on the business day following the date of the
relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a paper
offeror, they will be deemed to be a single person for the purpose
of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGUGCGUPWGCQ
TUI Travel (LSE:TT.)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
TUI Travel (LSE:TT.)
Historical Stock Chart
Von Jul 2023 bis Jul 2024