IRISH TAKEOVER PANEL
Panel Announcement
Arnotts plc (“Arnotts”) / Carrgran Limited (“Carrgran”)
Pursuant to a Panel ruling of 16 December, 2002, Carrgran was required by 17 January, 2003 to issue an announcement of a firm intention to make an offer for Arnotts or an announcement that it does not intend to make an offer in respect of Arnotts.
Following a request from Carrgran for an extension of the 17 January deadline, the Panel has consented to an extension of the deadline until 31 January, 2003. The board of Arnotts has confirmed to the Panel that it is supportive of such an extension.