Gresham Hotel Group plc (“Gresham”)
On 22 December, 2003 Gresham announced that it has been in discussions with representatives of a Consortium (“the Consortium”) regarding an approach. Following representations made by Gresham and its advisers, and correspondence with the advisers to both the Consortium and Gresham, the Panel announced on 7 January, 2004 that it had ruled that except with the consent of the Panel the Consortium must by 5.00 p.m. on 16 January, 2004 either announce an offer for Gresham under Rule 2.5 of the Takeover Rules or announce that it will not proceed with an offer for Gresham.
Following a request from the Consortium for an extension of the 16 January deadline, the Panel has consented to an extension of the deadline until 5.00 p.m. on Friday 30 January, 2004. The Board of Gresham has confirmed to the Panel that it is supportive of such an extension.
