Heiton Group plc (“Heiton”) – Recommended Offers by Grafton Group Holdings Limited (“Grafton”)
On 8 November, 2004 Grafton’s ordinary share offer (the “offer”) for Heiton became unconditional as to acceptances. Consequently, under Rule 31.7(a) the offer shall, except with the consent of the Panel, lapse unless all conditions of the offer are satisfied by 29 November i.e. the 21st day after the date on which the offer became unconditional as to acceptances.
The Panel has been informed by Grafton that the offer remains subject to clearance by the Competition Authority and consequently, Grafton has requested the Panel to extend the offer timetable. The Board of Heiton has confirmed to the Panel that it is supportive of such an extension.
The Panel has agreed to an extension under Rule 31.7(a) of the date by which all conditions of the offer must be satisfied until 5.00 p.m. on 20 December, 2004.
